Schenectady, NY—12308
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Schenectady, NY
As of Oct '25, the median home price in Schenectady, NY is $255,000, with a year-over-year change of 3.7%. This indicates that home prices in Schenectady, NY are increasing. According to Zillow, the 1-year price projection is 2.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $255,000 | 3.7% |
| Single Family | $256,000 | 3.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $204,000 | 1.0% |
3 Bed | $245,000 | 3.8% |
4 Bed | $270,000 | 3.4% |
| 5 Bed | $321,000 | 2.6% |
% of Housing Stock
Rental Trends — Schenectady, NY
As of July '25, Rentcast reports the average rent in Schenectady, NY is $1,440, with a year-over-year rent change of 0.7%. Per bedroom, the median rent as of July '25 in Schenectady, NY is 1-bedrooms: $1,180, 2-bedrooms: $1,570, 3-bedrooms: $1,820, 4-bedrooms: $1,960. The most common rental property sizes in Schenectady, NY are 2-bedroom and 1-bedroom, accounting for 39.5% and 30.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,420 | $1,440 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,200 | $1,180 |
| 2 Bed Rent | $1,600 | $1,570 |
| 3 Bed Rent | $1,600 | $1,820 |
| 4 Bed Rent | $1,900 | $1,960 |
% of Rental Stock
Property Listings — Schenectady, NY
As of Oct '25, Realtor.com reports that the median days on market for a home in Schenectady, NY is 28. This is a decrease of -15.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 23.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $288,000 | 11.0% |
Listing Count | 43 | 14.0% |
| Listings as % of Homes | 0.4% | 14.0% |
Days on Market | 28 | -15.0% |
Demographics — Schenectady, NY
As of the latest ACS Survey released in 2023, Schenectady, NY has a population of 14,000, which has decreased by -9.3% over the past 5 years. Schenectady, NY is a moderately popular place for families, as children make up 16.0% of the population. The area has a moderately educated workforce, with 29.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 14,000 | -9.3% |
% Under 18 | 16.0% | -14.9% |
% Seniors | 15.6% | 28.9% |
% WFH | 11.7% | 234.3% |
% w/ College Degree | 29.5% | 2.4% |
As of the latest ACS Survey released in 2023, Schenectady, NY is a predominantly white area, with 57.0% of the population identifying as white. The white population has shrunk by 1.9% in the last 5 years. The second most common race or ethnicity in Schenectady, NY is black, making up 19.8% of the population. Foreign-born residents account for 10.4% of the population in Schenectady, NY, and this percentage has decreased by 36.2% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 57.0% | -1.9% |
% Black | 19.8% | 23.0% |
% Hispanic | 13.1% | 22.4% |
% Asian | 2.7% | -65.4% |
% Foreign Born | 10.4% | -36.2% |
Mortgage and Risk — Schenectady, NY
According to HUD data as of 2023, there were 156 mortgage originations in Schenectady, NY, of which 73.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 44.0% above 90% LTV (very high). This implies large mortgage risk in Schenectady, NY. Investor activity is low, as 7.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 156 |
% Conventional Loans | 73.0% |
% Government Loans | 27.0% |
% Investor Loans | 7.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Schenectady, NY
As of 2024, the percent of homes in Schenectady, NY under the Section 8 program is 17.0%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Schenectady, NY, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 640 |
Total Units Section 8 | 640 |
% Rentals under Section 8 | 17.0% |
% Occupied Section 8 | 85.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$80 | $1,200 | $1,120 |
| 2 Bedroom | -$240 | $1,600 | $1,360 |
| 3 Bedroom | $40 | $1,600 | $1,640 |
| 4 Bedroom | -$100 | $1,900 | $1,800 |
Affordability — Schenectady, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.6 |
| Median Home Price | $255,000 |
| Median Household Income | $59,800 |