Penfield, NY—14526
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Penfield, NY
As of Oct '25, the median home price in Penfield, NY is $374,000, with a year-over-year change of 4.9%. This indicates that home prices in Penfield, 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 | $374,000 | 4.9% |
| Single Family | $378,000 | 4.7% |
| Condos | $251,000 | 4.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $243,000 | 3.4% |
3 Bed | $322,000 | 3.5% |
4 Bed | $455,000 | 5.1% |
| 5 Bed | $526,000 | 5.2% |
% of Housing Stock
Rental Trends — Penfield, NY
As of July '25, Rentcast reports the average rent in Penfield, NY is $2,080, with a year-over-year rent change of -16.8%. Per bedroom, the median rent as of July '25 in Penfield, NY is 1-bedrooms: $1,540, 2-bedrooms: $1,800, 3-bedrooms: $3,200, 4-bedrooms: $2,850. The most common rental property sizes in Penfield, NY are 1-bedroom and 2-bedroom, accounting for 37.8% and 31.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,800 | $2,080 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,410 | $1,540 |
| 2 Bed Rent | $1,800 | $1,800 |
| 3 Bed Rent | $3,200 | $3,200 |
| 4 Bed Rent | $2,850 | $2,850 |
% of Rental Stock
Property Listings — Penfield, NY
As of Oct '25, Realtor.com reports that the median days on market for a home in Penfield, NY is 35. This is a decrease of -25.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $518,000 | 1.0% |
Listing Count | 67 | 16.0% |
| Listings as % of Homes | 0.1% | 16.0% |
Days on Market | 35 | -25.0% |
Demographics — Penfield, NY
As of the latest ACS Survey released in 2023, Penfield, NY has a population of 19,300, which has decreased by -4.9% over the past 5 years. Penfield, NY is a moderately popular place for families, as children make up 23.0% of the population. The area has a highly educated workforce, with 62.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 23.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 19,300 | -4.9% |
% Under 18 | 23.0% | -5.3% |
% Seniors | 22.2% | 9.9% |
% WFH | 23.5% | 312.3% |
% w/ College Degree | 62.4% | 17.7% |
As of the latest ACS Survey released in 2023, Penfield, NY is a predominantly white area, with 87.4% of the population identifying as white. The white population has remained stable in the last 5 years. The second most common race or ethnicity in Penfield, NY is hispanic, making up 5.1% of the population. Foreign-born residents account for 7.7% of the population in Penfield, NY, and this percentage has increased by 10.0% 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 | 87.4% | 0.0% |
% Black | 1.2% | -61.3% |
% Hispanic | 5.1% | 24.4% |
% Asian | 2.0% | -44.4% |
% Foreign Born | 7.7% | 10.0% |
Mortgage and Risk — Penfield, NY
According to HUD data as of 2023, there were 481 mortgage originations in Penfield, NY, of which 96.0% 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 Penfield, NY. Investor activity is low, as 1.0% 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 | 481 |
% Conventional Loans | 96.0% |
% Government Loans | 4.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Penfield, NY
As of 2024, the percent of homes in Penfield, NY under the Section 8 program is 12.5%. 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. In Penfield, NY, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 176 |
Total Units Section 8 | 176 |
% Rentals under Section 8 | 12.5% |
% Occupied Section 8 | 86.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$220 | $1,410 | $1,190 |
| 2 Bedroom | -$320 | $1,800 | $1,480 |
| 3 Bedroom | -$1,420 | $3,200 | $1,780 |
| 4 Bedroom | -$890 | $2,850 | $1,960 |
Affordability — Penfield, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.8 |
| Median Home Price | $374,000 |
| Median Household Income | $111,000 |