Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 4,179 people, 1,828 houses or apartments, and a median cost of homes of $196,657, house prices in Springville are solidly below the national average.
Single-family detached homes are the single most common housing type in Springville, accounting for 55.56% of the village's housing units. Other types of housing that are prevalent in Springville include large apartment complexes or high rise apartments ( 20.53%), duplexes, homes converted to apartments or other small apartment buildings ( 19.05%), and a few row houses and other attached homes ( 4.34%).
The most prevalent building size and type in Springville are three and four bedroom dwellings, chiefly found in single-family detached homes. The village has a mixture of owners and renters, with 55.63% owning and 44.37% renting.
The housing in Springville was primarily built before 1939 ( 32.60%), making the housing stock in Springville some of the oldest overall in America, although there is a range of ages of homes in Springville. The next most important housing age is between 1970-1999 ( 28.16%), followed by between 1940-1969 ( 22.91%). There's also some housing in Springville built between 2000 and later ( 16.32%).
Vacant housing appears to be an issue in Springville. Fully 12.74% of the housing stock is classified as vacant. Left unchecked, vacant Springville homes and apartments can be a drag on the real estate market, holding Springville real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Some of the lowest real estate appreciation rates in America over the last ten years have been in Springville, where house values have increased just 53.13%, which is annualized rate of 4.35%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Over the last year, Springville appreciation rates have trailed the rest of the nation. In the last twelve months, Springville's appreciation rate has been -0.63%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Springville were at 2.79%, which equates to an annual appreciation rate of 11.65%.
Relative to New York, our data show that Springville's latest annual appreciation rate is lower than 90% of the other cities and towns in New York.
$196,657
for New york
for nation
1,828
$1,096 / per month