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 3,938, 1,766 total housing units (homes and apartments), and a median house value of $177,438, house prices in Owego are solidly below the national average.
Single-family detached homes are the single most common housing type in Owego, accounting for 49.23% of the village's housing units. Other types of housing that are prevalent in Owego include duplexes, homes converted to apartments or other small apartment buildings ( 32.56%), large apartment complexes or high rise apartments ( 16.92%).
The most prevalent building size and type in Owego are three and four bedroom dwellings, chiefly found in single-family detached homes. The village has a mixture of owners and renters, with 47.57% owning and 52.43% renting.
The housing in Owego was primarily built before 1939 ( 59.72%), making the housing stock in Owego some of the oldest overall in America, although there is a range of ages of homes in Owego. The next most important housing age is between 1940-1969 ( 17.39%), followed by between 1970-1999 ( 14.40%). There's also some housing in Owego built between 2000 and later ( 8.49%).
Owego's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Owego during the period has been just 5.47%, which is lower than 70% of US communities.
Appreciation rates are so strong in Owego that despite a nationwide downturn in the housing market, Owego real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Owego appreciation rates continue to be some of the highest in America, at 20.19%, which is higher than appreciation rates in 95.38% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Owego. Owego appreciation rates in the latest quarter were at 1.52%, which equates to an annual appreciation rate of 6.20%.
Relative to New York, our data show that Owego's latest annual appreciation rate is higher than 90% of the other cities and towns in New York.
$177,438
for New york
for nation
1,766
$1,382 / per month