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 30,989, 9,461 total housing units (homes and apartments), and a median house value of $252,331, house prices in Vestal are solidly below the national average.
Single-family detached homes are the single most common housing type in Vestal, accounting for 76.78% of the town's housing units. Other types of housing that are prevalent in Vestal include large apartment complexes or high rise apartments ( 13.99%), duplexes, homes converted to apartments or other small apartment buildings ( 6.08%), and a few mobile homes or trailers ( 1.82%).
The most prevalent building size and type in Vestal are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 59.32% owning and 40.68% renting.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Vestal's housing was primarily built during this period, from the '40s through the '60s. A full 48.99% of the town's housing hails from this era. Other housing ages represented in Vestal include homes built between 1970-1999 ( 32.96%) and housing constructed before 1939 ( 10.27%). There's also some housing in Vestal built between 2000 and later ( 7.78%).
Some of the lowest real estate appreciation rates in America over the last ten years have been in Vestal, where house values have increased just 45.04%, which is annualized rate of 3.79%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Over the last year, Vestal appreciation rates have trailed the rest of the nation. In the last twelve months, Vestal's appreciation rate has been 0.51%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Vestal were at -7.79%, which equates to an annual appreciation rate of -27.70%.
Notably, Vestal's appreciation rate in the latest quarter is one of the lowest in America.
Relative to New York, our data show that Vestal's latest annual appreciation rate is lower than 90% of the other cities and towns in New York.
One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Vestal differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Vestal - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Vestal real estate investment or home purchase decisions.
$252,331
for New york
for nation
9,461
$1,730 / per month