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 5,448 people, 2,480 houses or apartments, and a median cost of homes of $150,598, house prices in Malone 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 Malone, accounting for 54.76% of the village's housing units. Other types of housing that are prevalent in Malone include duplexes, homes converted to apartments or other small apartment buildings ( 31.34%), large apartment complexes or high rise apartments ( 11.94%), and a few mobile homes or trailers ( 1.09%).
The most prevalent building size and type in Malone are three and four bedroom dwellings, chiefly found in single-family detached homes. The village has a mixture of owners and renters, with 47.28% owning and 52.72% renting.
The housing in Malone was primarily built before 1939 ( 49.22%), making the housing stock in Malone some of the oldest overall in America, although there is a range of ages of homes in Malone. The next most important housing age is between 1940-1969 ( 25.94%), followed by between 1970-1999 ( 23.75%). There's also some housing in Malone built between 2000 and later ( 1.09%).
Vacant housing appears to be an issue in Malone. Fully 17.74% of the housing stock is classified as vacant. Left unchecked, vacant Malone homes and apartments can be a drag on the real estate market, holding Malone 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.
Appreciation rates for homes in Malone have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 89.76%, which ranks in the top 50% nationwide. This equates to an annual average Malone house appreciation rate of 6.62%.
NeighborhoodScout's data show that during the latest twelve months, Malone's appreciation rate, at 6.52%, has been at or slightly above the national average. In the latest quarter, Malone's appreciation rate has been -2.87%, which annualizes to a rate of -11.00%.
Notably, Malone's appreciation rate in the latest quarter is one of the lowest in America.
Relative to New York, our data show that Malone's latest annual appreciation rate is lower than 50% of the other cities and towns in New York.
$150,598
for New york
for nation
2,480
$1,129 / per month