Orchard Park, 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 Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

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

Orchard Park, NY Housing Market Trends

With 3,131 people, 1,368 houses or apartments, and a median cost of homes of $297,874, Orchard Park real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Orchard Park, accounting for 66.14% of the village's housing units. Other types of housing that are prevalent in Orchard Park include large apartment complexes or high rise apartments ( 24.10%), duplexes, homes converted to apartments or other small apartment buildings ( 8.45%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Orchard Park. Owner-occupied housing accounts for 70.79% of Orchard Park's homes, and 50.21% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Orchard Park's housing was primarily built during this period, from the '40s through the '60s. A full 57.48% of the village's housing hails from this era. Other housing ages represented in Orchard Park include homes built between 1970-1999 ( 24.86%) and housing constructed before 1939 ( 16.34%). There's also some housing in Orchard Park built between 2000 and later ( 1.32%).

Orchard Park Home Appreciation Rates

Real estate appreciation rates in Orchard Park's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 3.45% during the period.

Appreciation rates are so strong in Orchard Park that despite a nationwide downturn in the housing market, Orchard Park real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Orchard Park appreciation rates continue to be some of the highest in America, at 11.80%, which is higher than appreciation rates in 82.59% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Orchard Park. Orchard Park appreciation rates in the latest quarter were at 3.99%, which equates to an annual appreciation rate of 16.95%.

Importantly, this makes Orchard Park 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 Orchard Park's latest annual appreciation rate is higher than 60% of the other cities and towns in New York.

One very important thing to keep in mind is that these are average appreciation rates for the village. Individual neighborhoods within Orchard Park differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Orchard Park - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Orchard Park real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$297,874

Orchard Park, NY HOME PRICES

> $1,231,000
0.1%
0.1%
$924,001 - $1,231,000
0.2%
0.2%
$616,001 - $924,000
2.9%
2.9%
$493,001 - $616,000
2.8%
2.8%
$369,001 - $493,000
19.5%
19.5%
$246,001 - $369,000
47.3%
47.3%
$123,001 - $246,000
24.8%
24.8%
$62,001 - $123,000
0.4%
0.4%
$0 - $62,000
2.0%
2.0%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

High for NY

Value Relative To Nation

Number Of Homes And Apartments:
1,368

Orchard Park Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NY*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
85.15% 2.91%
3
6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,530 / per month

Homeownership Rate

Owners
70.8%
70.8%
Renters
29.2%
29.2%
Vacant
5.3%
5.3%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1.3%
1.3%
1970 - 1999
24.9%
24.9%
1940 - 1969
57.5%
57.5%
1939 or Older
16.3%
16.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
66.1%
66.1%
Townhomes
0.7%
0.7%
Small Apt. Buildings
8.4%
8.4%
Apt. Complexes
24.1%
24.1%
Mobile Homes
0.6%
0.6%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.8%
2.8%
1 Bedroom
5.3%
5.3%
2 Bedrooms
32.5%
32.5%
3 Bedrooms
30.7%
30.7%
4 Bedrooms
19.5%
19.5%
5 or more bedrooms
9.1%
9.1%
0.0% 100.0%
% OF HOMES