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 | Jefferson County | New York Avg | US Average |
|---|---|---|---|
| Median Home Price | $140,602 | $436,407 | $242,182 |
| Price Trend (Annual %) | -0.7% | 6.9% | 8.2% |
| Median Gross Rent | $1,213 | $1,576 | $1,342 |
| Rent Trend (Annual %) | 3.7% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Jefferson County is about 68% lower than in New York. Rent is about 23% lower than the New York average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Home prices and rent are moving in opposite directions in Jefferson County: home prices fell about 0.7% a year while rent rose about 3.7% a year. That is an unusual pattern worth watching.
Median rent in Jefferson County rose about 28.1% between 2015 and 2023, from $946 to $1,213. Over the same span, rent in New York rose about 39.2%.
Affordability
On average, housing unit costs 2.1 yearly household incomes in Jefferson County.
Buying the median-priced home in Jefferson County costs roughly 9.7 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 Jefferson County. The price-to-rent ratio in New York is about 23.1.
| Metric | Jefferson County | New York Avg | US Average |
|---|---|---|---|
| Median Home Price | $140,602 | $436,407 | $242,182 |
| Median Household Income | $65,777 | $85,191 | $78,145 |
| Price-to-Income Ratio | 2.1 | 5.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Jefferson County fell about 4.9%, while median household income rose about 51.6% 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 | Jefferson County | New York Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 41.0% | 48.7% | 58.2% |
| Rental Rate | 34.7% | 41.1% | 31.3% |
| Vacancy Rate | 24.3% | 10.2% | 10.6% |
| Median Tenure (years) | 14.0 | 17.0 | 15.0 |
| Median Year Moved In | 2012 | 2009 | 2011 |
Jefferson County has a homeownership rate of 41.0%, lower than the New York average of 48.7%. Its housing vacancy rate is 24.3%, compared with 10.2% in New York.
Housing Stock
| Metric | Jefferson County | New York Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.38 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1971 | 1960 | 1978 |
| Median Number of Rooms | 5.6 | 5.0 | 5.5 |
The typical housing unit in Jefferson County was built around 1971. On average, 2.4 people live in a home with about 5.6 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Jefferson County, New York.
What is the median home price in Jefferson County, New York?
The median home price in Jefferson County, New York is $140,602, lower than the New York average of $436,407.
What is the average home price in Jefferson 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 Jefferson County, New York?
The median gross rent in Jefferson County, New York is $1,213 per month, lower than the New York average of $1,576.
What was the median gross rent in Jefferson County in 2020?
In 2020, the median gross rent in Jefferson County, New York was $1,018 per month.
What is the price-to-rent ratio in Jefferson County, New York?
The price-to-rent ratio in Jefferson County, New York is about 9.7, meaning it would take roughly 9.7 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 Jefferson County.
Are home prices or rent rising faster in Jefferson County, New York?
Home prices and rent are moving in opposite directions in Jefferson County: home prices fell about 0.7% a year while rent rose about 3.7% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Jefferson County, New York?
41.0% of households in Jefferson County, New York own their home, lower than the New York average of 48.7%.
What is the vacancy rate in Jefferson County, New York?
The housing vacancy rate in Jefferson County, New York is 24.3%, higher than the New York average of 10.2%.