Ithaca, NY—14850
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Ithaca, NY
As of Oct '25, the median home price in Ithaca, NY is $402,000, with a year-over-year change of 2.0%. This indicates that home prices in Ithaca, NY are increasing. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $402,000 | 2.0% |
| Single Family | $404,000 | 2.0% |
| Condos | $277,000 | 1.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $246,000 | -1.2% |
2 Bed | $286,000 | 1.4% |
3 Bed | $378,000 | 2.2% |
4 Bed | $511,000 | 2.8% |
| 5 Bed | $580,000 | 2.3% |
% of Housing Stock
Rental Trends — Ithaca, NY
As of July '25, Rentcast reports the average rent in Ithaca, NY is $2,020, with a year-over-year rent change of -7.3%. Per bedroom, the median rent as of July '25 in Ithaca, NY is studios: $1,720, 1-bedrooms: $1,540, 2-bedrooms: $2,200, 3-bedrooms: $2,190, 4-bedrooms: $2,660. The most common rental property sizes in Ithaca, NY are 2-bedroom and 1-bedroom, accounting for 33.7% and 31.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,800 | $2,020 |
| Studio Rent | $1,600 | $1,720 |
| 1 Bed Rent | $1,500 | $1,540 |
| 2 Bed Rent | $2,000 | $2,200 |
| 3 Bed Rent | $2,400 | $2,190 |
| 4 Bed Rent | $2,800 | $2,660 |
% of Rental Stock
Property Listings — Ithaca, NY
As of Oct '25, Realtor.com reports that the median days on market for a home in Ithaca, NY is 71. This is a decrease of -2.0% 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 | $477,000 | 8.0% |
Listing Count | 175 | 38.0% |
| Listings as % of Homes | 0.2% | 38.0% |
Days on Market | 71 | -2.0% |
Demographics — Ithaca, NY
As of the latest ACS Survey released in 2023, Ithaca, NY has a population of 66,500, which has increased by 3.1% over the past 5 years. Ithaca, NY is a less popular place for families, as children make up 11.9% of the population. The area has a highly educated workforce, with 71.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 22.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 66,500 | 3.1% |
% Under 18 | 11.9% | -4.8% |
% Seniors | 14.7% | 22.5% |
% WFH | 22.3% | 189.6% |
% w/ College Degree | 71.8% | 13.1% |
As of the latest ACS Survey released in 2023, Ithaca, NY is a predominantly white area, with 68.5% of the population identifying as white. The white population has shrunk by 2.7% in the last 5 years. The second most common race or ethnicity in Ithaca, NY is asian, making up 13.3% of the population. Foreign-born residents account for 17.8% of the population in Ithaca, NY, and this percentage has decreased by 3.8% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 68.5% | -2.7% |
% Black | 4.8% | 0.0% |
% Hispanic | 8.2% | 43.9% |
% Asian | 13.3% | -11.9% |
% Foreign Born | 17.8% | -3.8% |
Mortgage and Risk — Ithaca, NY
According to HUD data as of 2023, there were 570 mortgage originations in Ithaca, NY, of which 97.0% of loans were conventional mortgages. The average loan-to-value was 58.0%, with 12.0% above 90% LTV (elevated). This implies medium mortgage risk in Ithaca, NY. Investor activity is low, as 3.0% 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 | 570 |
% Conventional Loans | 97.0% |
% Government Loans | 3.0% |
% Investor Loans | 3.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Ithaca, NY
As of 2024, the percent of homes in Ithaca, NY under the Section 8 program is 9.7%. 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 units appear to be good home sizes to consider for Section 8 housing in Ithaca, NY, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 1,836 |
Total Units Section 8 | 1,601 |
% Rentals under Section 8 | 9.7% |
% Occupied Section 8 | 90.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $60 | $1,500 | $1,560 |
| 2 Bedroom | -$220 | $2,000 | $1,780 |
| 3 Bedroom | -$260 | $2,400 | $2,140 |
| 4 Bedroom | -$340 | $2,800 | $2,460 |
Affordability — Ithaca, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.1 |
| Median Home Price | $402,000 |
| Median Household Income | $69,700 |