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 7,621 people, 3,340 houses or apartments, and a median cost of homes of $153,739, house prices in Ilion 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 Ilion, accounting for 64.40% of the village's housing units. Other types of housing that are prevalent in Ilion include duplexes, homes converted to apartments or other small apartment buildings ( 20.28%), large apartment complexes or high rise apartments ( 14.38%).
The most prevalent building size and type in Ilion are three and four bedroom dwellings, chiefly found in single-family detached homes. The village has a mixture of owners and renters, with 63.96% owning and 36.04% renting.
The housing in Ilion was primarily built before 1939 ( 47.12%), making the housing stock in Ilion some of the oldest overall in America, although there is a range of ages of homes in Ilion. The next most important housing age is between 1940-1969 ( 36.16%), followed by between 1970-1999 ( 15.73%).
Vacant housing appears to be an issue in Ilion. Fully 15.12% of the housing stock is classified as vacant. Left unchecked, vacant Ilion homes and apartments can be a drag on the real estate market, holding Ilion 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.
Ilion's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Ilion during the period has been just 5.54%, which is lower than 70% of US communities.
Over the last year, Ilion appreciation rates have trailed the rest of the nation. In the last twelve months, Ilion's appreciation rate has been 4.52%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Ilion were at -4.59%, which equates to an annual appreciation rate of -17.15%.
Notably, Ilion's appreciation rate in the latest quarter is one of the lowest in America.
Relative to New York, our data show that Ilion's latest annual appreciation rate is lower than 70% of the other cities and towns in New York.
$153,739
for New york
for nation
3,340
$1,062 / per month