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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Homer, NY Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Homer, NY Housing Market Trends

With a population of 3,121, 1,536 total housing units (homes and apartments), and a median house value of $213,304, house prices in Homer are solidly below the national average.

Single-family detached homes are the single most common housing type in Homer, accounting for 76.84% of the village's housing units. Other types of housing that are prevalent in Homer include duplexes, homes converted to apartments or other small apartment buildings ( 13.56%), large apartment complexes or high rise apartments ( 7.87%), and a few row houses and other attached homes ( 1.73%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Homer. Owner-occupied housing accounts for 74.13% of Homer's homes, and 58.54% have either three or four bedrooms, which is average sized relative to America.

The housing in Homer was primarily built before 1939 ( 49.39%), making the housing stock in Homer some of the oldest overall in America, although there is a range of ages of homes in Homer. The next most important housing age is between 1940-1969 ( 35.51%), followed by between 1970-1999 ( 9.21%). There's also some housing in Homer built between 2000 and later ( 5.89%).

Homer Home Appreciation Rates

Real estate appreciation rates in Homer's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.77% during the period.

Appreciation rates are so strong in Homer that despite a nationwide downturn in the housing market, Homer real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Homer appreciation rates continue to be some of the highest in America, at 8.56%, which is higher than appreciation rates in 89.47% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Homer. Homer appreciation rates in the latest quarter were at 4.61%, which equates to an annual appreciation rate of 19.76%.

Importantly, this makes Homer one of the highest appreciating communities in the nation for the latest quarter, and may signal the village's near-future real estate investment strength.

Relative to New York, our data show that Homer's latest annual appreciation rate is higher than 50% of the other cities and towns in New York.

Average Home Values

Median Home Value

$213,304

Homer, NY Home Prices
> $1,333,000
$999,001 - $1,333,000
$666,001 - $999,000
$533,001 - $666,000
$400,001 - $533,000
$267,001 - $400,000
$133,001 - $267,000
$67,001 - $133,000
$0 - $67,000
5.4%
5.4%
0.5%
0.5%
0.8%
0.8%
0.0%
0.0%
0.6%
0.6%
14.2%
14.2%
62.6%
62.6%
14.8%
14.8%
1.0%
1.0%
0% 100.0%
% of Homes
Low

for New york

Low

for nation

Number of Homes And Apartments:

1,536

Homer Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,478 / per month

Homeownership Rate

Owners
Renters
74.1%
74.1%
25.9%
25.9%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
1.7%
1.7%
98.3%
98.3%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
5.9%
5.9%
9.2%
9.2%
35.5%
35.5%
49.4%
49.4%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
76.8%
76.8%
1.7%
1.7%
13.6%
13.6%
7.9%
7.9%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.3%
1.3%
12.9%
12.9%
22.8%
22.8%
39.9%
39.9%
18.6%
18.6%
4.5%
4.5%
0% 100.0%
% of Homes