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 | Yates County | New York Avg | US Average |
|---|---|---|---|
| Median Home Price | $273,913 | $436,407 | $242,182 |
| Price Trend (Annual %) | 24.1% | 6.9% | 8.2% |
| Median Gross Rent | $802 | $1,576 | $1,342 |
| Rent Trend (Annual %) | 2.1% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Yates County is about 37% lower than in New York. Rent is about 49% 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 Yates County, up about 24.1% and 2.1% a year respectively. Home prices are changing faster.
Median rent in Yates County rose about 16.8% between 2015 and 2023, from $687 to $802. Over the same span, rent in New York rose about 39.2%.
Affordability
On average, housing unit costs 4.1 yearly household incomes in Yates County.
Buying the median-priced home in Yates County costs roughly 28.4 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Yates County. The price-to-rent ratio in New York is about 23.1.
| Metric | Yates County | New York Avg | US Average |
|---|---|---|---|
| Median Home Price | $273,913 | $436,407 | $242,182 |
| Median Household Income | $67,092 | $85,191 | $78,145 |
| Price-to-Income Ratio | 4.1 | 5.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Yates County rose about 100.5%, while median household income rose about 49.2% 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 | Yates County | New York Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 53.4% | 48.7% | 58.2% |
| Rental Rate | 15.8% | 41.1% | 31.3% |
| Vacancy Rate | 30.8% | 10.2% | 10.6% |
| Median Tenure (years) | 19.0 | 17.0 | 15.0 |
| Median Year Moved In | 2007 | 2009 | 2011 |
Yates County has a homeownership rate of 53.4%, higher than the New York average of 48.7%. Its housing vacancy rate is 30.8%, compared with 10.2% in New York.
Housing Stock
| Metric | Yates County | New York Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.57 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1969 | 1960 | 1978 |
| Median Number of Rooms | 6.2 | 5.0 | 5.5 |
The typical housing unit in Yates County was built around 1969. On average, 2.6 people live in a home with about 6.2 rooms, staying for about 19.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Yates County, New York.
What is the median home price in Yates County, New York?
The median home price in Yates County, New York is $273,913, lower than the New York average of $436,407.
What is the average home price in Yates 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 Yates County, New York?
The median gross rent in Yates County, New York is $802 per month, lower than the New York average of $1,576.
What was the median gross rent in Yates County in 2020?
In 2020, the median gross rent in Yates County, New York was $712 per month.
What is the price-to-rent ratio in Yates County, New York?
The price-to-rent ratio in Yates County, New York is about 28.4, meaning it would take roughly 28.4 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Yates County.
Are home prices or rent rising faster in Yates County, New York?
Both home prices and rent are rising in Yates County, up about 24.1% and 2.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Yates County, New York?
53.4% of households in Yates County, New York own their home, higher than the New York average of 48.7%.
What is the vacancy rate in Yates County, New York?
The housing vacancy rate in Yates County, New York is 30.8%, higher than the New York average of 10.2%.