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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.



Homer, 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 Q2 2024. 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

Homer, NY Housing Market Trends

With 3,121 people, 1,536 houses or apartments, and a median cost of homes of $197,752, house prices in Homer are solidly below the national average.

Single-family detached homes are the single most common housing type in Homer, accounting for 76.84% of the village's housing units. Other types of housing that are prevalent in Homer include duplexes, homes converted to apartments or other small apartment buildings ( 13.56%), large apartment complexes or high rise apartments ( 7.87%), and a few row houses and other attached homes ( 1.73%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Homer. Owner-occupied housing accounts for 74.13% of Homer's homes, and 58.54% have either three or four bedrooms, which is average sized relative to America.

The housing in Homer was primarily built before 1939 ( 49.39%), making the housing stock in Homer some of the oldest overall in America, although there is a range of ages of homes in Homer. The next most important housing age is between 1940-1969 ( 35.51%), followed by between 1970-1999 ( 9.21%). There's also some housing in Homer built between 2000 and later ( 5.89%).

Homer Home Appreciation Rates

Homer's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Homer during the period has been just 5.02%, which is lower than 80% of US communities.

Over the last year, Homer appreciation rates have trailed the rest of the nation. In the last twelve months, Homer's appreciation rate has been 2.06%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Homer were at -2.87%, which equates to an annual appreciation rate of -11.00%.

Notably, Homer's appreciation rate in the latest quarter is one of the lowest in America.

Relative to New York, our data show that Homer's latest annual appreciation rate is lower than 90% of the other cities and towns in New York.

Average Home Values

Median Home Value

$197,752

Homer, NY Home Prices
> $1,236,000
$927,001 - $1,236,000
$618,001 - $927,000
$494,001 - $618,000
$371,001 - $494,000
$247,001 - $371,000
$124,001 - $247,000
$62,001 - $124,000
$0 - $62,000
5.4%
5.4%
0.5%
0.5%
0.8%
0.8%
0.0%
0.0%
0.6%
0.6%
14.2%
14.2%
62.6%
62.6%
14.8%
14.8%
1.0%
1.0%
0% 100.0%
% of Homes
Low

for New york

Low

for nation

Number of Homes And Apartments:

1,536

Homer Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,491 / per month

Homeownership Rate

Owners
Renters
74.1%
74.1%
25.9%
25.9%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
1.7%
1.7%
98.3%
98.3%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
5.9%
5.9%
9.2%
9.2%
35.5%
35.5%
49.4%
49.4%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
76.8%
76.8%
1.7%
1.7%
13.6%
13.6%
7.9%
7.9%
0.0%
0.0%
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
1.3%
1.3%
12.9%
12.9%
22.8%
22.8%
39.9%
39.9%
18.6%
18.6%
4.5%
4.5%
0% 100.0%
% of Homes