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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.



Springville, 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

Springville, NY Housing Market Trends

With 4,179 people, 1,828 houses or apartments, and a median cost of homes of $206,289, house prices in Springville are solidly below the national average.

Single-family detached homes are the single most common housing type in Springville, accounting for 55.56% of the village's housing units. Other types of housing that are prevalent in Springville include large apartment complexes or high rise apartments ( 20.53%), duplexes, homes converted to apartments or other small apartment buildings ( 19.05%), and a few row houses and other attached homes ( 4.34%).

The most prevalent building size and type in Springville are three and four bedroom dwellings, chiefly found in single-family detached homes. The village has a mixture of owners and renters, with 55.63% owning and 44.37% renting.

The housing in Springville was primarily built before 1939 ( 32.60%), making the housing stock in Springville some of the oldest overall in America, although there is a range of ages of homes in Springville. The next most important housing age is between 1970-1999 ( 28.16%), followed by between 1940-1969 ( 22.91%). There's also some housing in Springville built between 2000 and later ( 16.32%).

Vacant housing appears to be an issue in Springville. Fully 12.74% of the housing stock is classified as vacant. Left unchecked, vacant Springville homes and apartments can be a drag on the real estate market, holding Springville 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.

Springville Home Appreciation Rates

Springville's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Springville during the period has been just 5.14%, which is lower than 70% of US communities.

Appreciation rates are so strong in Springville that despite a nationwide downturn in the housing market, Springville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Springville appreciation rates continue to be some of the highest in America, at 7.14%, which is higher than appreciation rates in 75.34% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Springville. Springville appreciation rates in the latest quarter were at 1.32%, which equates to an annual appreciation rate of 5.36%.

Relative to New York, our data show that Springville's latest annual appreciation rate is lower than 60% of the other cities and towns in New York.

Average Home Values

Median Home Value

$206,289

Springville, NY Home Prices
> $1,234,000
$926,001 - $1,234,000
$618,001 - $926,000
$494,001 - $618,000
$371,001 - $494,000
$247,001 - $371,000
$124,001 - $247,000
$62,001 - $124,000
$0 - $62,000
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
1.2%
1.2%
6.0%
6.0%
17.7%
17.7%
56.9%
56.9%
12.0%
12.0%
6.2%
6.2%
0% 100.0%
% of Homes
Low

for New york

Low

for nation

Number of Homes And Apartments:

1,828

Springville Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,041 / per month

Homeownership Rate

Owners
Renters
55.6%
55.6%
44.4%
44.4%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
12.7%
12.7%
87.3%
87.3%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
16.3%
16.3%
28.2%
28.2%
22.9%
22.9%
32.6%
32.6%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
55.6%
55.6%
4.3%
4.3%
19.0%
19.0%
20.5%
20.5%
0.5%
0.5%
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
0.5%
0.5%
19.4%
19.4%
27.2%
27.2%
31.2%
31.2%
19.2%
19.2%
2.5%
2.5%
0% 100.0%
% of Homes

Popular Neighborhoods in Springville

Zip Codes in Springville, NY