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 518 people, 198 houses or apartments, and a median cost of homes of $222,841, house prices in Springwater are solidly below the national average.
Single-family detached homes are the single most common housing type in Springwater, accounting for 70.54% of the town's housing units. Other types of housing that are prevalent in Springwater include mobile homes or trailers ( 20.33%), duplexes, homes converted to apartments or other small apartment buildings ( 7.47%), and a few row houses and other attached homes ( 1.66%).
Dwellings in Springwater tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 59.75% of the homes in Springwater have two or fewer bedrooms.
There is a lot of housing in Springwater built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Springwater built before 1939 ( 35.68%). A lesser amount of the housing stock also hails from between 1940-1969 ( 7.05%). There's also some housing in Springwater built between 2000 and later ( 3.73%).
Vacant housing appears to be an issue in Springwater. Fully 17.84% of the housing stock is classified as vacant. Left unchecked, vacant Springwater homes and apartments can be a drag on the real estate market, holding Springwater 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 Springwater have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 103.42%, which ranks in the top 40% nationwide. This equates to an annual average Springwater house appreciation rate of 7.36%.
NeighborhoodScout's data show that during the latest twelve months, Springwater's appreciation rate, at 5.90%, has been at or slightly above the national average. In the latest quarter, Springwater's appreciation rate has been 5.43%, which annualizes to a rate of 23.57%.
Importantly, this makes Springwater one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to New York, our data show that Springwater's latest annual appreciation rate is lower than 60% of the other cities and towns in New York.
$222,841
for New york
for nation
198
$1,744 / per month