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 1,588 people, 647 houses or apartments, and a median cost of homes of $121,439, house prices in Wolcott 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 Wolcott, accounting for 47.07% of the village's housing units. Other types of housing that are prevalent in Wolcott include duplexes, homes converted to apartments or other small apartment buildings ( 20.54%), mobile homes or trailers ( 16.07%), and a few large apartment complexes or high rise apartments ( 14.16%).
People in Wolcott primarily live in small (one, two or no bedroom) single-family detached homes. Wolcott has a mixture of owner-occupied and renter-occupied housing.
The housing in Wolcott was primarily built before 1939 ( 47.70%), making the housing stock in Wolcott some of the oldest overall in America, although there is a range of ages of homes in Wolcott. The next most important housing age is between 1970-1999 ( 30.74%), followed by between 1940-1969 ( 16.07%). There's also some housing in Wolcott built between 2000 and later ( 5.48%).
Vacant housing appears to be an issue in Wolcott. Fully 17.47% of the housing stock is classified as vacant. Left unchecked, vacant Wolcott homes and apartments can be a drag on the real estate market, holding Wolcott 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 Wolcott have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 89.05%, which ranks in the top 50% nationwide. This equates to an annual average Wolcott house appreciation rate of 6.58%.
Over the last year, Wolcott appreciation rates have trailed the rest of the nation. In the last twelve months, Wolcott's appreciation rate has been 2.79%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Wolcott were at 5.43%, which equates to an annual appreciation rate of 23.57%.
Importantly, this makes Wolcott one of the highest appreciating communities in the nation for the latest quarter, and may signal the village's near-future real estate investment strength.
Relative to New York, our data show that Wolcott's latest annual appreciation rate is lower than 80% of the other cities and towns in New York.
$121,439
for New york
for nation
647
$1,390 / per month