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 8,093 people, 3,734 houses or apartments, and a median cost of homes of $102,541, house prices in Hornell 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 Hornell, accounting for 54.89% of the city's housing units. Other types of housing that are prevalent in Hornell include duplexes, homes converted to apartments or other small apartment buildings ( 29.53%), large apartment complexes or high rise apartments ( 13.24%), and a few row houses and other attached homes ( 2.08%).
The most prevalent building size and type in Hornell are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 47.86% owning and 52.14% renting.
The housing in Hornell was primarily built before 1939 ( 59.48%), making the housing stock in Hornell some of the oldest overall in America, although there is a range of ages of homes in Hornell. The next most important housing age is between 1940-1969 ( 24.14%), followed by between 1970-1999 ( 13.12%). There's also some housing in Hornell built between 2000 and later ( 3.26%).
Vacant housing appears to be an issue in Hornell. Fully 11.73% of the housing stock is classified as vacant. Left unchecked, vacant Hornell homes and apartments can be a drag on the real estate market, holding Hornell 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.
Hornell's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Hornell during the period has been just 5.71%, which is lower than 70% of US communities.
NeighborhoodScout's data show that during the latest twelve months, Hornell's appreciation rate, at 7.88%, has been at or slightly above the national average. In the latest quarter, Hornell's appreciation rate has been -2.87%, which annualizes to a rate of -11.00%.
Notably, Hornell's appreciation rate in the latest quarter is one of the lowest in America.
Relative to New York, our data show that Hornell's latest annual appreciation rate is higher than 60% of the other cities and towns in New York.
$102,541
for New york
for nation
3,734
$1,174 / per month