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 14,932, 6,226 total housing units (homes and apartments), and a median house value of $143,475, house prices in Gloversville are some of the most affordable in New York as well as the nation.
Single-family detached homes are the single most common housing type in Gloversville, accounting for 45.35% of the city's housing units. Other types of housing that are prevalent in Gloversville include duplexes, homes converted to apartments or other small apartment buildings ( 41.89%), large apartment complexes or high rise apartments ( 11.77%).
People in Gloversville primarily live in small (one, two or no bedroom) single-family detached homes. Gloversville has a mixture of owner-occupied and renter-occupied housing.
The housing in Gloversville was primarily built before 1939 ( 56.74%), making the housing stock in Gloversville some of the oldest overall in America, although there is a range of ages of homes in Gloversville. The next most important housing age is between 1940-1969 ( 30.62%), followed by between 1970-1999 ( 10.77%). There's also some housing in Gloversville built between 2000 and later ( 1.87%).
Vacant housing appears to be an issue in Gloversville. Fully 15.57% of the housing stock is classified as vacant. Left unchecked, vacant Gloversville homes and apartments can be a drag on the real estate market, holding Gloversville 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.
Gloversville's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Gloversville during the period has been just 4.88%, which is lower than 80% of US communities.
NeighborhoodScout's data show that during the latest twelve months, Gloversville's appreciation rate, at 5.73%, has been at or slightly above the national average. In the latest quarter, Gloversville's appreciation rate has been -2.87%, which annualizes to a rate of -11.00%.
Notably, Gloversville's appreciation rate in the latest quarter is one of the lowest in America.
Relative to New York, our data show that Gloversville's latest annual appreciation rate is lower than 60% 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 Gloversville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Gloversville - 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 Gloversville real estate investment or home purchase decisions.
$143,475
for New york
for nation
6,226
$1,317 / per month