Binghamton, NY—13905
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Binghamton, NY
As of Oct '25, the median home price in Binghamton, NY is $183,000, with a year-over-year change of 5.0%. This indicates that home prices in Binghamton, NY are increasing. According to Zillow, the 1-year price projection is 1.9%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $183,000 | 5.0% |
| Single Family | $183,000 | 5.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $148,000 | 5.0% |
3 Bed | $180,000 | 4.7% |
4 Bed | $206,000 | 5.1% |
| 5 Bed | $221,000 | 5.7% |
% of Housing Stock
Rental Trends — Binghamton, NY
As of July '25, Rentcast reports the average rent in Binghamton, NY is $1,580, with a year-over-year rent change of 14.5%. Per bedroom, the median rent as of July '25 in Binghamton, NY is 1-bedrooms: $985, 2-bedrooms: $1,230, 3-bedrooms: $1,620, 4-bedrooms: $2,600. The most common rental property sizes in Binghamton, NY are 2-bedroom and 3-bedroom, accounting for 31.8% and 25.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,400 | $1,580 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $900 | $985 |
| 2 Bed Rent | $1,250 | $1,230 |
| 3 Bed Rent | $1,650 | $1,620 |
| 4 Bed Rent | $2,900 | $2,600 |
% of Rental Stock
Property Listings — Binghamton, NY
As of Oct '25, Realtor.com reports that the median days on market for a home in Binghamton, NY is 73. This is a increase of 29.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 7.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $187,000 | -13.0% |
Listing Count | 56 | -16.0% |
| Listings as % of Homes | 0.4% | -16.0% |
Days on Market | 73 | 29.0% |
Demographics — Binghamton, NY
As of the latest ACS Survey released in 2023, Binghamton, NY has a population of 28,400, which has increased by 8.3% over the past 5 years. Binghamton, NY is a moderately popular place for families, as children make up 15.4% of the population. The area has a moderately educated workforce, with 36.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 28,400 | 8.3% |
% Under 18 | 15.4% | -8.3% |
% Seniors | 17.3% | -4.4% |
% WFH | 9.7% | 246.4% |
% w/ College Degree | 36.7% | 27.9% |
As of the latest ACS Survey released in 2023, Binghamton, NY is a predominantly white area, with 67.9% of the population identifying as white. The white population has shrunk by 10.5% in the last 5 years. The second most common race or ethnicity in Binghamton, NY is black, making up 10.6% of the population. Foreign-born residents account for 11.2% of the population in Binghamton, NY, and this percentage has increased by 7.7% 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 | 67.9% | -10.5% |
% Black | 10.6% | 7.1% |
% Hispanic | 7.4% | 54.2% |
% Asian | 10.1% | 71.2% |
% Foreign Born | 11.2% | 7.7% |
Mortgage and Risk — Binghamton, NY
According to HUD data as of 2023, there were 278 mortgage originations in Binghamton, NY, of which 87.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 29.0% above 90% LTV (very high). This implies large mortgage risk in Binghamton, NY. Investor activity is low, as 8.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 278 |
% Conventional Loans | 87.0% |
% Government Loans | 13.0% |
% Investor Loans | 8.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Binghamton, NY
As of 2024, the percent of homes in Binghamton, NY under the Section 8 program is 6.2%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Binghamton, NY, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 361 |
Total Units Section 8 | 341 |
% Rentals under Section 8 | 6.2% |
% Occupied Section 8 | 71.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $100 | $900 | $1,000 |
| 2 Bedroom | $10 | $1,250 | $1,260 |
| 3 Bedroom | -$20 | $1,650 | $1,630 |
| 4 Bedroom | -$1,040 | $2,900 | $1,860 |
Affordability — Binghamton, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.7 |
| Median Home Price | $183,000 |
| Median Household Income | $53,800 |