Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Cattaraugus County | New York Avg | US Average |
|---|---|---|---|
| Median Home Price | $95,952 | $436,407 | $242,182 |
| Price Trend (Annual %) | 5.2% | 6.9% | 8.2% |
| Median Gross Rent | $759 | $1,576 | $1,342 |
| Rent Trend (Annual %) | 3.1% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Cattaraugus County is about 78% lower than in New York. Rent is about 52% lower than the New York average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Cattaraugus County, up about 5.2% and 3.1% a year respectively. Home prices are changing faster.
Median rent in Cattaraugus County rose about 23.2% between 2015 and 2023, from $616 to $759. Over the same span, rent in New York rose about 39.2%.
Affordability
On average, housing unit costs 1.6 yearly household incomes in Cattaraugus County.
Buying the median-priced home in Cattaraugus County costs roughly 10.5 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Cattaraugus County. The price-to-rent ratio in New York is about 23.1.
| Metric | Cattaraugus County | New York Avg | US Average |
|---|---|---|---|
| Median Home Price | $95,952 | $436,407 | $242,182 |
| Median Household Income | $58,209 | $85,191 | $78,145 |
| Price-to-Income Ratio | 1.6 | 5.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Cattaraugus County rose about 15.9%, while median household income rose about 40.4% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Cattaraugus County | New York Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 58.9% | 48.7% | 58.2% |
| Rental Rate | 20.1% | 41.1% | 31.3% |
| Vacancy Rate | 21.0% | 10.2% | 10.6% |
| Median Tenure (years) | 18.0 | 17.0 | 15.0 |
| Median Year Moved In | 2008 | 2009 | 2011 |
Cattaraugus County has a homeownership rate of 58.9%, higher than the New York average of 48.7%. Its housing vacancy rate is 21.0%, compared with 10.2% in New York.
Housing Stock
| Metric | Cattaraugus County | New York Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.31 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1961 | 1960 | 1978 |
| Median Number of Rooms | 5.9 | 5.0 | 5.5 |
The typical housing unit in Cattaraugus County was built around 1961. On average, 2.3 people live in a home with about 5.9 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Cattaraugus County, New York.
What is the median home price in Cattaraugus County, New York?
The median home price in Cattaraugus County, New York is $95,952, lower than the New York average of $436,407.
What is the average home price in Cattaraugus County, New York?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Cattaraugus County, New York?
The median gross rent in Cattaraugus County, New York is $759 per month, lower than the New York average of $1,576.
What was the median gross rent in Cattaraugus County in 2020?
In 2020, the median gross rent in Cattaraugus County, New York was $654 per month.
What is the price-to-rent ratio in Cattaraugus County, New York?
The price-to-rent ratio in Cattaraugus County, New York is about 10.5, meaning it would take roughly 10.5 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Cattaraugus County.
Are home prices or rent rising faster in Cattaraugus County, New York?
Both home prices and rent are rising in Cattaraugus County, up about 5.2% and 3.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Cattaraugus County, New York?
58.9% of households in Cattaraugus County, New York own their home, higher than the New York average of 48.7%.
What is the vacancy rate in Cattaraugus County, New York?
The housing vacancy rate in Cattaraugus County, New York is 21.0%, higher than the New York average of 10.2%.