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 4,491, 1,837 total housing units (homes and apartments), and a median house value of $211,541, house prices in Canastota are solidly below the national average.
Single-family detached homes are the single most common housing type in Canastota, accounting for 54.50% of the village's housing units. Other types of housing that are prevalent in Canastota include duplexes, homes converted to apartments or other small apartment buildings ( 35.69%), large apartment complexes or high rise apartments ( 7.92%), and a few row houses and other attached homes ( 1.09%).
The most prevalent building size and type in Canastota are three and four bedroom dwellings, chiefly found in single-family detached homes. The village has a mixture of owners and renters, with 63.38% owning and 36.62% renting.
The housing in Canastota was primarily built before 1939 ( 45.18%), making the housing stock in Canastota some of the oldest overall in America, although there is a range of ages of homes in Canastota. The next most important housing age is between 1940-1969 ( 23.02%), followed by between 1970-1999 ( 19.76%). There's also some housing in Canastota built between 2000 and later ( 12.03%).
Vacant housing appears to be an issue in Canastota. Fully 16.92% of the housing stock is classified as vacant. Left unchecked, vacant Canastota homes and apartments can be a drag on the real estate market, holding Canastota 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 Canastota's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.96% during the period.
NeighborhoodScout's data show that during the latest twelve months, Canastota's appreciation rate, at 5.43%, has been at or slightly above the national average. In the latest quarter, Canastota's appreciation rate has been 1.77%, which annualizes to a rate of 7.28%.
Relative to New York, our data show that Canastota's latest annual appreciation rate is lower than 60% of the other cities and towns in New York.
$211,541
for New york
for nation
1,837
$1,349 / per month