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 591 people, 293 houses or apartments, and a median cost of homes of $316,507, Hammondsport real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Hammondsport, accounting for 70.78% of the village's housing units. Other types of housing that are prevalent in Hammondsport include duplexes, homes converted to apartments or other small apartment buildings ( 20.64%), large apartment complexes or high rise apartments ( 7.51%).
People in Hammondsport primarily live in small (one, two or no bedroom) single-family detached homes. Hammondsport has a mixture of owner-occupied and renter-occupied housing.
The housing in Hammondsport was primarily built before 1939 ( 89.54%), making the housing stock in Hammondsport some of the oldest overall in America, although there is a range of ages of homes in Hammondsport. The next most important housing age is between 1940-1969 ( 5.90%), followed by between 1970-1999 ( 3.22%). There's also some housing in Hammondsport built between 2000 and later ( 1.34%).
Vacant housing appears to be an issue in Hammondsport. Fully 21.45% of the housing stock is classified as vacant. Left unchecked, vacant Hammondsport homes and apartments can be a drag on the real estate market, holding Hammondsport 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 Hammondsport have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 117.46%, which ranks in the top 30% nationwide. This equates to an annual average Hammondsport house appreciation rate of 8.08%.
Appreciation rates are so strong in Hammondsport that despite a nationwide downturn in the housing market, Hammondsport real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Hammondsport appreciation rates continue to be some of the highest in America, at 12.91%, which is higher than appreciation rates in 78.65% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Hammondsport. Hammondsport appreciation rates in the latest quarter were at 4.41%, which equates to an annual appreciation rate of 18.86%.
Relative to New York, our data show that Hammondsport's latest annual appreciation rate is higher than 70% of the other cities and towns in New York.
$316,507
for New york
for nation
293
$1,066 / per month