Schenectady, New York Housing Market Prices
Schenectady Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 46% below the New York median$256,319
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Median rent 29% below the New York median$1,144
Housing Market Overview
| Metric | Schenectady | New York Avg | US Average |
|---|---|---|---|
| Median Home Price | $256,319 | $471,885 | $248,835 |
| Price Trend (Annual %) | 18.4% | 7.1% | 7.5% |
| Median Gross Rent | $1,144 | $1,621 | $1,407 |
| Rent Trend (Annual %) | 4.4% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Schenectady is about 46% lower than in New York. Rent is about 29% lower than the New York average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Schenectady, up about 18.4% and 4.4% a year respectively. Home prices are changing faster.
Median rent in Schenectady rose about 41.1% between 2015 and 2024, from $811 to $1,144. Over the same span, rent in New York rose about 43.2%.
Affordability
On average, housing unit costs 4.4 yearly household incomes in Schenectady.
Buying the median-priced home in Schenectady costs roughly 18.7 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Schenectady. The price-to-rent ratio in New York is about 24.3.
| Metric | Schenectady | New York Avg | US Average |
|---|---|---|---|
| Median Home Price | $256,319 | $471,885 | $248,835 |
| Median Household Income | $57,874 | $86,556 | $80,455 |
| Price-to-Income Ratio | 4.4 | 5.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Schenectady rose about 255.5%, while median household income rose about 45.7% between 2009 and 2025 — 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 | Schenectady | New York Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 42.6% | 48.8% | 58.5% |
| Rental Rate | 50.3% | 41.1% | 31.2% |
| Vacancy Rate | 7.1% | 10.1% | 10.2% |
| Median Tenure (years) | 12.0 | 17.0 | 15.0 |
| Median Year Moved In | 2014 | 2009 | 2011 |
Schenectady has a homeownership rate of 42.6%, lower than the New York average of 48.8%. Its housing vacancy rate is 7.1%, compared with 10.1% in New York.
Housing Stock
| Metric | Schenectady | New York Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.23 people | 2.49 people | 2.53 people |
| Median Structure Built Year | 1951 | 1960 | 1978 |
| Median Number of Rooms | 5.2 | 5.0 | 5.5 |
The typical housing unit in Schenectady was built around 1951. On average, 2.2 people live in a home with about 5.2 rooms, staying for about 12.0 years on average.
Schenectady, NY Housing Compared With Nearby Cities
How Schenectady, NY compares with the 2 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Schenectady, NY | 68,515 | $256,319 #1/3 | $1,144 #3/3 | 45.9% #3/3 |
| Rotterdam, NY | 21,779 | $249,703 | $1,258 | 78.9% |
| Niskayuna, NY | 20,872 | $169,645 | $1,535 | 78.8% |
Frequently Asked Questions
Common questions about the housing market in Schenectady, New York.
What is the median home price in Schenectady, New York?
The median home price in Schenectady, New York is $256,319, lower than the New York average of $471,885.
What is the average home price in Schenectady, New York?
The typical home price in Schenectady, New York, reported as the median sale price, is $256,319. 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 Schenectady, New York?
The median gross rent in Schenectady, New York is $1,144 per month, lower than the New York average of $1,621.
What was the median gross rent in Schenectady in 2020?
In 2020, the median gross rent in Schenectady, New York was $918 per month.
What is the price-to-rent ratio in Schenectady, New York?
The price-to-rent ratio in Schenectady, New York is about 18.7, meaning it would take roughly 18.7 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Schenectady.
Are home prices or rent rising faster in Schenectady, New York?
Both home prices and rent are rising in Schenectady, up about 18.4% and 4.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Schenectady, New York?
42.6% of households in Schenectady, New York own their home, lower than the New York average of 48.8%.
What is the vacancy rate in Schenectady, New York?
The housing vacancy rate in Schenectady, New York is 7.1%, lower than the New York average of 10.1%.
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