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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 9,248, 4,344 total housing units (homes and apartments), and a median house value of $236,289, house prices in Rensselaer are solidly below the national average.
Duplexes, homes converted to apartments or other small apartment buildings are the single most common housing type in Rensselaer, accounting for 36.79% of the city's housing units. Other types of housing that are prevalent in Rensselaer include single-family detached homes ( 29.52%), large apartment complexes or high rise apartments ( 23.86%), and a few row houses and other attached homes ( 9.07%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.
People in Rensselaer primarily live in small (one, two or no bedroom) units, chiefly found in duplexes, homes converted to apartments or other small apartment buildings. Rensselaer has a mixture of owner-occupied and renter-occupied housing.
The housing in Rensselaer was primarily built before 1939 ( 33.55%), making the housing stock in Rensselaer some of the oldest overall in America, although there is a range of ages of homes in Rensselaer. The next most important housing age is between 1970-1999 ( 30.29%), followed by between 1940-1969 ( 19.79%). There's also some housing in Rensselaer built between 2000 and later ( 16.37%).
Vacant housing appears to be an issue in Rensselaer. Fully 12.10% of the housing stock is classified as vacant. Left unchecked, vacant Rensselaer homes and apartments can be a drag on the real estate market, holding Rensselaer real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Real estate appreciation rates in Rensselaer's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.59% during the period.
Appreciation rates are so strong in Rensselaer that despite a nationwide downturn in the housing market, Rensselaer real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Rensselaer appreciation rates continue to be some of the highest in America, at 11.31%, which is higher than appreciation rates in 98.42% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Rensselaer. Rensselaer appreciation rates in the latest quarter were at 4.90%, which equates to an annual appreciation rate of 21.09%.
Importantly, this makes Rensselaer one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to New York, our data show that Rensselaer's latest annual appreciation rate is higher than 90% 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 city. Individual neighborhoods within Rensselaer differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Rensselaer - 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 Rensselaer real estate investment or home purchase decisions.
$236,289
for New york
for nation
4,344
$1,758 / per month