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 5,874, 2,420 total housing units (homes and apartments), and a median house value of $86,501, house prices in Salamanca 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 Salamanca, accounting for 59.92% of the city's housing units. Other types of housing that are prevalent in Salamanca include duplexes, homes converted to apartments or other small apartment buildings ( 22.55%), large apartment complexes or high rise apartments ( 13.99%), and a few mobile homes or trailers ( 1.82%).
The most prevalent building size and type in Salamanca are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 51.00% owning and 49.00% renting.
The housing in Salamanca was primarily built before 1939 ( 57.96%), making the housing stock in Salamanca some of the oldest overall in America, although there is a range of ages of homes in Salamanca. The next most important housing age is between 1940-1969 ( 24.37%), followed by between 1970-1999 ( 11.72%). There's also some housing in Salamanca built between 2000 and later ( 5.95%).
Vacant housing appears to be an issue in Salamanca. Fully 16.81% of the housing stock is classified as vacant. Left unchecked, vacant Salamanca homes and apartments can be a drag on the real estate market, holding Salamanca 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.
Salamanca's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Salamanca during the period has been just 5.36%, which is lower than 70% of US communities.
Appreciation rates are so strong in Salamanca that despite a nationwide downturn in the housing market, Salamanca real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Salamanca appreciation rates continue to be some of the highest in America, at 8.03%, which is higher than appreciation rates in 70.54% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Salamanca. Salamanca appreciation rates in the latest quarter were at -2.87%, which equates to an annual appreciation rate of -11.00%.
Notably, Salamanca's appreciation rate in the latest quarter is one of the lowest in America.
Relative to New York, our data show that Salamanca's latest annual appreciation rate is higher than 60% of the other cities and towns in New York.
$86,501
for New york
for nation
2,420
$1,112 / per month