Herkimer, NY—13350
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Herkimer, NY
As of Oct '25, the median home price in Herkimer, NY is $158,000, with a year-over-year change of 6.2%. This indicates that home prices in Herkimer, NY are increasing. According to Zillow, the 1-year price projection is 3.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $158,000 | 6.2% |
| Single Family | $158,000 | 6.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $142,000 | 7.6% |
3 Bed | $157,000 | 6.8% |
4 Bed | $171,000 | 5.6% |
| 5 Bed | $225,000 | 6.1% |
% of Housing Stock
Rental Trends — Herkimer, NY
As of July '25, Rentcast reports the average rent in Herkimer, NY is $1,040, with a year-over-year rent change of 1.0%. Per bedroom, the median rent as of July '25 in Herkimer, NY is 1-bedrooms: $950, 2-bedrooms: $1,180. The most common rental property sizes in Herkimer, NY are 2-bedroom and 3-bedroom, accounting for 42.1% and 24.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,000 | $1,040 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $950 | $950 |
| 2 Bed Rent | $1,100 | $1,180 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Herkimer, NY
As of Oct '25, Realtor.com reports that the median days on market for a home in Herkimer, NY is 54. This is a decrease of -13.0% 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 15.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $171,000 | -6.0% |
Listing Count | 39 | 12.0% |
| Listings as % of Homes | 0.7% | 12.0% |
Days on Market | 54 | -13.0% |
Demographics — Herkimer, NY
As of the latest ACS Survey released in 2023, Herkimer, NY has a population of 9,640, which has decreased by -1.9% over the past 5 years. Herkimer, NY is a less popular place for families, as children make up 14.7% of the population. The area has a poorly educated workforce, with 20.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 9,640 | -1.9% |
% Under 18 | 14.7% | -9.3% |
% Seniors | 22.2% | -3.5% |
% WFH | 8.8% | 166.7% |
% w/ College Degree | 20.3% | 34.4% |
As of the latest ACS Survey released in 2023, Herkimer, NY is a predominantly white area, with 90.3% of the population identifying as white. The white population has shrunk by 2.4% in the last 5 years. The second most common race or ethnicity in Herkimer, NY is black, making up 1.6% of the population. Foreign-born residents account for 4.3% of the population in Herkimer, NY, and this percentage has increased by 43.3% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 90.3% | -2.4% |
% Black | 1.6% | -33.3% |
% Hispanic | 1.4% | -6.7% |
% Asian | 1.5% | 87.5% |
% Foreign Born | 4.3% | 43.3% |
Mortgage and Risk — Herkimer, NY
According to HUD data as of 2023, there were 135 mortgage originations in Herkimer, NY, of which 77.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 26.0% above 90% LTV (very high). This implies large mortgage risk in Herkimer, NY. Investor activity is low, as 1.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 135 |
% Conventional Loans | 77.0% |
% Government Loans | 23.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Herkimer, NY
Herkimer, NY lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 381 |
Total Units Section 8 | 381 |
% Rentals under Section 8 | 21.2% |
% Occupied Section 8 | 93.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$30 | $950 | $920 |
| 2 Bedroom | $50 | $1,100 | $1,150 |
| 3 Bedroom | N/A | N/A | $1,390 |
| 4 Bedroom | N/A | N/A | $1,640 |
Affordability — Herkimer, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.1 |
| Median Home Price | $158,000 |
| Median Household Income | $62,500 |