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 4,979, 2,184 total housing units (homes and apartments), and a median house value of $352,484, Ballston Spa real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Ballston Spa, accounting for 58.70% of the village's housing units. Other types of housing that are prevalent in Ballston Spa include duplexes, homes converted to apartments or other small apartment buildings ( 34.80%), large apartment complexes or high rise apartments ( 6.50%).
The most prevalent building size and type in Ballston Spa are three and four bedroom dwellings, chiefly found in single-family detached homes. The village has a mixture of owners and renters, with 63.20% owning and 36.80% renting.
The housing in Ballston Spa was primarily built before 1939 ( 57.33%), making the housing stock in Ballston Spa some of the oldest overall in America, although there is a range of ages of homes in Ballston Spa. The next most important housing age is between 1970-1999 ( 22.20%), followed by between 1940-1969 ( 14.33%). There's also some housing in Ballston Spa built between 2000 and later ( 6.14%).
Vacant housing appears to be an issue in Ballston Spa. Fully 11.83% of the housing stock is classified as vacant. Left unchecked, vacant Ballston Spa homes and apartments can be a drag on the real estate market, holding Ballston Spa 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.
Ballston Spa's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Ballston Spa during the period has been just 5.52%, which is lower than 70% of US communities.
NeighborhoodScout's data show that during the latest twelve months, Ballston Spa's appreciation rate, at 6.96%, has been at or slightly above the national average. In the latest quarter, Ballston Spa's appreciation rate has been -0.27%, which annualizes to a rate of -1.07%.
Notably, Ballston Spa's appreciation rate in the latest quarter is one of the lowest in America.
Relative to New York, our data show that Ballston Spa's latest annual appreciation rate is higher than 50% 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 Ballston Spa differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Ballston Spa - 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 Ballston Spa real estate investment or home purchase decisions.
$352,484
for New york
for nation
2,184
$1,738 / per month