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 | Oswego County | New York Avg | US Average |
|---|---|---|---|
| Median Home Price | $118,837 | $436,407 | $242,182 |
| Price Trend (Annual %) | 7.8% | 6.9% | 8.2% |
| Median Gross Rent | $943 | $1,576 | $1,342 |
| Rent Trend (Annual %) | 3.8% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Oswego County is about 73% lower than in New York. Rent is about 40% 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 Oswego County, up about 7.8% and 3.8% a year respectively. Home prices are changing faster.
Median rent in Oswego County rose about 30.8% between 2015 and 2023, from $721 to $943. Over the same span, rent in New York rose about 39.2%.
Affordability
On average, housing unit costs 1.7 yearly household incomes in Oswego County.
Buying the median-priced home in Oswego 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 Oswego County. The price-to-rent ratio in New York is about 23.1.
| Metric | Oswego County | New York Avg | US Average |
|---|---|---|---|
| Median Home Price | $118,837 | $436,407 | $242,182 |
| Median Household Income | $68,901 | $85,191 | $78,145 |
| Price-to-Income Ratio | 1.7 | 5.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Oswego County rose about 59.1%, while median household income rose about 52.9% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Oswego County | New York Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 63.7% | 48.7% | 58.2% |
| Rental Rate | 22.5% | 41.1% | 31.3% |
| Vacancy Rate | 13.8% | 10.2% | 10.6% |
| Median Tenure (years) | 18.0 | 17.0 | 15.0 |
| Median Year Moved In | 2008 | 2009 | 2011 |
Oswego County has a homeownership rate of 63.7%, higher than the New York average of 48.7%. Its housing vacancy rate is 13.8%, compared with 10.2% in New York.
Housing Stock
| Metric | Oswego County | New York Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.40 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1969 | 1960 | 1978 |
| Median Number of Rooms | 5.9 | 5.0 | 5.5 |
The typical housing unit in Oswego County was built around 1969. On average, 2.4 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 Oswego County, New York.
What is the median home price in Oswego County, New York?
The median home price in Oswego County, New York is $118,837, lower than the New York average of $436,407.
What is the average home price in Oswego 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 Oswego County, New York?
The median gross rent in Oswego County, New York is $943 per month, lower than the New York average of $1,576.
What was the median gross rent in Oswego County in 2020?
In 2020, the median gross rent in Oswego County, New York was $806 per month.
What is the price-to-rent ratio in Oswego County, New York?
The price-to-rent ratio in Oswego 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 Oswego County.
Are home prices or rent rising faster in Oswego County, New York?
Both home prices and rent are rising in Oswego County, up about 7.8% and 3.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Oswego County, New York?
63.7% of households in Oswego County, New York own their home, higher than the New York average of 48.7%.
What is the vacancy rate in Oswego County, New York?
The housing vacancy rate in Oswego County, New York is 13.8%, higher than the New York average of 10.2%.