Elma, NY—14059
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Elma, NY
As of Oct '25, the median home price in Elma, NY is $408,000, with a year-over-year change of 3.7%. This indicates that home prices in Elma, 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 | $408,000 | 3.7% |
| Single Family | $408,000 | 4.1% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $343,000 | 3.6% |
3 Bed | $380,000 | 3.5% |
4 Bed | $493,000 | 4.2% |
| 5 Bed | $577,000 | 3.0% |
% of Housing Stock
Rental Trends — Elma, NY
As of July '25, Rentcast reports the average rent in Elma, NY is $1,850, with a year-over-year rent change of -27.5%. Per bedroom, the median rent as of July '25 in Elma, NY is 2-bedrooms: $1,850. The most common rental property sizes in Elma, NY are 2-bedroom and 3-bedroom, accounting for 54.3% and 32.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,850 | $1,850 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,850 | $1,850 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Elma, NY
As of Oct '25, Realtor.com reports that the median days on market for a home in Elma, NY is 41. This is a decrease of -27.0% 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 11.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $690,000 | 22.0% |
Listing Count | 37 | -14.0% |
| Listings as % of Homes | 0.4% | -14.0% |
Days on Market | 41 | -27.0% |
Demographics — Elma, NY
As of the latest ACS Survey released in 2023, Elma, NY has a population of 9,410, which has decreased by -7.2% over the past 5 years. Elma, NY is a moderately popular place for families, as children make up 21.9% of the population. The area has a moderately educated workforce, with 42.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 9,410 | -7.2% |
% Under 18 | 21.9% | 14.1% |
% Seniors | 23.1% | 4.5% |
% WFH | 11.0% | 107.5% |
% w/ College Degree | 42.3% | 0.5% |
As of the latest ACS Survey released in 2023, Elma, NY is a predominantly white area, with 97.5% of the population identifying as white. The white population has shrunk by 1.7% in the last 5 years. The second most common race or ethnicity in Elma, NY is hispanic, making up 0.5% of the population. Foreign-born residents account for 2.5% of the population in Elma, NY, and this percentage has increased by 31.6% 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 | 97.5% | -1.7% |
% Black | 0.1% | ∞% |
% Hispanic | 0.5% | 400.0% |
% Asian | 0.3% | -25.0% |
% Foreign Born | 2.5% | 31.6% |
Mortgage and Risk — Elma, NY
According to HUD data as of 2023, there were 182 mortgage originations in Elma, NY, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 53.0%, with 12.0% above 90% LTV (elevated). This implies medium mortgage risk in Elma, NY. Investor activity is low, as 0.0% 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 | 182 |
% Conventional Loans | 90.0% |
% Government Loans | 10.0% |
% Investor Loans | 0.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Elma, NY
Elma, NY lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 6 |
Total Units Section 8 | 6 |
% Rentals under Section 8 | 1.0% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,300 |
| 2 Bedroom | -$320 | $1,850 | $1,530 |
| 3 Bedroom | N/A | N/A | $1,870 |
| 4 Bedroom | N/A | N/A | $2,110 |
Affordability — Elma, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.6 |
| Median Home Price | $408,000 |
| Median Household Income | $102,000 |