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 4,590, 2,217 total housing units (homes and apartments), and a median house value of $134,618, house prices in Wellsville 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 Wellsville, accounting for 61.61% of the village's housing units. Other types of housing that are prevalent in Wellsville include large apartment complexes or high rise apartments ( 18.87%), duplexes, homes converted to apartments or other small apartment buildings ( 16.63%), and a few mobile homes or trailers ( 2.36%).
People in Wellsville primarily live in small (one, two or no bedroom) single-family detached homes. Wellsville has a mixture of owner-occupied and renter-occupied housing.
The housing in Wellsville was primarily built before 1939 ( 41.93%), making the housing stock in Wellsville some of the oldest overall in America, although there is a range of ages of homes in Wellsville. The next most important housing age is between 1940-1969 ( 34.76%), followed by between 1970-1999 ( 22.37%).
Appreciation rates for homes in Wellsville have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 95.40%, which ranks in the top 50% nationwide. This equates to an annual average Wellsville house appreciation rate of 6.93%.
Appreciation rates are so strong in Wellsville that despite a nationwide downturn in the housing market, Wellsville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Wellsville appreciation rates continue to be some of the highest in America, at 12.66%, which is higher than appreciation rates in 77.13% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Wellsville. Wellsville appreciation rates in the latest quarter were at 3.52%, which equates to an annual appreciation rate of 14.82%.
Relative to New York, our data show that Wellsville's latest annual appreciation rate is higher than 60% of the other cities and towns in New York.
$134,618
for New york
for nation
2,217
$912 / per month