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 3,344 people, 1,487 houses or apartments, and a median cost of homes of $219,976, house prices in Lowville are solidly below the national average.
Single-family detached homes are the single most common housing type in Lowville, accounting for 60.52% of the village's housing units. Other types of housing that are prevalent in Lowville include duplexes, homes converted to apartments or other small apartment buildings ( 24.58%), large apartment complexes or high rise apartments ( 13.12%), and a few row houses and other attached homes ( 1.55%).
The most prevalent building size and type in Lowville are three and four bedroom dwellings, chiefly found in single-family detached homes. The village has a mixture of owners and renters, with 57.43% owning and 42.57% renting.
The housing in Lowville was primarily built before 1939 ( 66.39%), making the housing stock in Lowville some of the oldest overall in America, although there is a range of ages of homes in Lowville. The next most important housing age is between 1940-1969 ( 16.78%), followed by between 1970-1999 ( 14.06%). There's also some housing in Lowville built between 2000 and later ( 2.77%).
Vacant housing appears to be an issue in Lowville. Fully 17.66% of the housing stock is classified as vacant. Left unchecked, vacant Lowville homes and apartments can be a drag on the real estate market, holding Lowville 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 Lowville have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 91.65%, which ranks in the top 50% nationwide. This equates to an annual average Lowville house appreciation rate of 6.72%.
Appreciation rates are so strong in Lowville that despite a nationwide downturn in the housing market, Lowville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lowville appreciation rates continue to be some of the highest in America, at 12.54%, which is higher than appreciation rates in 76.28% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Lowville. Lowville appreciation rates in the latest quarter were at 4.08%, which equates to an annual appreciation rate of 17.36%.
Relative to New York, our data show that Lowville's latest annual appreciation rate is higher than 60% of the other cities and towns in New York.
$219,976
for New york
for nation
1,487
$1,055 / per month