Penn Yan, NY—14527
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Penn Yan, NY
As of Oct '25, the median home price in Penn Yan, NY is $320,000, with a year-over-year change of 2.3%. This indicates that home prices in Penn Yan, NY are increasing. According to Zillow, the 1-year price projection is 2.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $320,000 | 2.3% |
| Single Family | $320,000 | 1.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $294,000 | 2.4% |
2 Bed | $286,000 | 1.8% |
3 Bed | $302,000 | -0.3% |
4 Bed | $425,000 | 3.7% |
| 5 Bed | $764,000 | 8.5% |
% of Housing Stock
Rental Trends — Penn Yan, NY
As of July '25, Rentcast reports the average rent in Penn Yan, NY is $1,520, with a year-over-year rent change of 24.6%. Per bedroom, the median rent as of July '25 in Penn Yan, NY is studios: $750, 3-bedrooms: $1,500, 4-bedrooms: $2,300. The most common rental property sizes in Penn Yan, NY are 1-bedroom and 2-bedroom, accounting for 45.2% and 25.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,500 | $1,520 |
| Studio Rent | $750 | $750 |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $1,500 | $1,500 |
| 4 Bed Rent | $2,300 | $2,300 |
% of Rental Stock
Property Listings — Penn Yan, NY
As of Oct '25, Realtor.com reports that the median days on market for a home in Penn Yan, NY is 64. This is a increase of 14.0% 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 14.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $539,000 | 1.0% |
Listing Count | 43 | -8.0% |
| Listings as % of Homes | 0.2% | -8.0% |
Days on Market | 64 | 14.0% |
Demographics — Penn Yan, NY
As of the latest ACS Survey released in 2023, Penn Yan, NY has a population of 12,400, which has decreased by -3.9% over the past 5 years. Penn Yan, NY is a moderately popular place for families, as children make up 22.8% of the population. The area has a moderately educated workforce, with 27.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 12,400 | -3.9% |
% Under 18 | 22.8% | -0.9% |
% Seniors | 25.5% | 22.0% |
% WFH | 13.2% | 14.8% |
% w/ College Degree | 27.2% | 18.8% |
As of the latest ACS Survey released in 2023, Penn Yan, NY is a predominantly white area, with 94.0% of the population identifying as white. The white population has shrunk by 2.0% in the last 5 years. The second most common race or ethnicity in Penn Yan, NY is hispanic, making up 3.3% of the population. Foreign-born residents account for 1.8% of the population in Penn Yan, NY, and this percentage has increased by 80.0% 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 | 94.0% | -2.0% |
% Black | 0.5% | -37.5% |
% Hispanic | 3.3% | 120.0% |
% Asian | 0.2% | -60.0% |
% Foreign Born | 1.8% | 80.0% |
Mortgage and Risk — Penn Yan, NY
According to HUD data as of 2023, there were 244 mortgage originations in Penn Yan, NY, of which 96.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 14.0% above 90% LTV (elevated). This implies medium mortgage risk in Penn Yan, NY. Investor activity is low, as 2.0% 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 | 244 |
% Conventional Loans | 96.0% |
% Government Loans | 4.0% |
% Investor Loans | 2.0% |
% Second Loans | 18.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Penn Yan, NY
Penn Yan, NY lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 121 |
Total Units Section 8 | 115 |
% Rentals under Section 8 | 9.1% |
% Occupied Section 8 | 90.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $820 |
| 2 Bedroom | N/A | N/A | $1,070 |
| 3 Bedroom | -$180 | $1,500 | $1,320 |
| 4 Bedroom | -$600 | $2,300 | $1,700 |
Affordability — Penn Yan, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.2 |
| Median Home Price | $320,000 |
| Median Household Income | $65,200 |