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 7,748, 1,883 total housing units (homes and apartments), and a median house value of $264,222, Geneseo real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Geneseo, accounting for 41.48% of the village's housing units. Other types of housing that are prevalent in Geneseo include large apartment complexes or high rise apartments ( 39.20%), duplexes, homes converted to apartments or other small apartment buildings ( 15.13%), and a few row houses and other attached homes ( 4.19%).
Renters dominate Geneseo's housing market, and most live in three of four bedroom dwellings, chiefly found in single-family detached homes.
There is a lot of housing in Geneseo built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Geneseo built before 1939 ( 29.33%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.18%). There's also some housing in Geneseo built between 1940-1969 ( 15.92%).
Vacant housing appears to be an issue in Geneseo. Fully 12.34% of the housing stock is classified as vacant. Left unchecked, vacant Geneseo homes and apartments can be a drag on the real estate market, holding Geneseo 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.
Geneseo's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Geneseo during the period has been just 4.90%, which is lower than 80% of US communities.
Over the last year, Geneseo appreciation rates have trailed the rest of the nation. In the last twelve months, Geneseo's appreciation rate has been 4.33%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Geneseo were at 5.43%, which equates to an annual appreciation rate of 23.58%.
Importantly, this makes Geneseo 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 Geneseo's latest annual appreciation rate is lower than 70% of the other cities and towns in New York.
$264,222
for New york
for nation
1,883
$1,845 / per month