Elmira, NY—14901
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Elmira, NY
As of Oct '25, the median home price in Elmira, NY is $105,000, with a year-over-year change of -6.9%. This indicates that home prices in Elmira, NY are decreasing. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $105,000 | -6.9% |
| Single Family | $105,000 | -6.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $89,000 | -6.3% |
3 Bed | $108,000 | -6.1% |
4 Bed | $115,000 | -8.0% |
| 5 Bed | $127,000 | -6.6% |
% of Housing Stock
Rental Trends — Elmira, NY
As of July '25, Rentcast reports the average rent in Elmira, NY is $1,110, with a year-over-year rent change of -0.9%. Per bedroom, the median rent as of July '25 in Elmira, NY is 1-bedrooms: $965, 2-bedrooms: $1,080, 3-bedrooms: $1,280. The most common rental property sizes in Elmira, NY are 1-bedroom and 2-bedroom, accounting for 33.3% and 29.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $950 | $1,110 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $900 | $965 |
| 2 Bed Rent | $950 | $1,080 |
| 3 Bed Rent | $1,260 | $1,280 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Elmira, NY
As of Oct '25, Realtor.com reports that the median days on market for a home in Elmira, NY is 60. This is a increase of 107.0% 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 11.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $83,000 | -29.0% |
Listing Count | 72 | 47.0% |
| Listings as % of Homes | 0.3% | 47.0% |
Days on Market | 60 | 107.0% |
Demographics — Elmira, NY
As of the latest ACS Survey released in 2023, Elmira, NY has a population of 14,400, which has decreased by -9.6% over the past 5 years. Elmira, NY is a moderately popular place for families, as children make up 20.9% of the population. The area has a poorly educated workforce, with 16.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 14,400 | -9.6% |
% Under 18 | 20.9% | -7.1% |
% Seniors | 16.6% | 24.8% |
% WFH | 8.7% | 107.1% |
% w/ College Degree | 16.1% | 34.2% |
As of the latest ACS Survey released in 2023, Elmira, NY is a predominantly white area, with 70.3% of the population identifying as white. The white population has shrunk by 1.4% in the last 5 years. The second most common race or ethnicity in Elmira, NY is black, making up 15.1% of the population. Foreign-born residents account for 3.9% of the population in Elmira, NY, and this percentage has increased by 30.0% 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 | 70.3% | -1.4% |
% Black | 15.1% | -14.2% |
% Hispanic | 7.0% | 45.8% |
% Asian | 1.4% | 75.0% |
% Foreign Born | 3.9% | 30.0% |
Mortgage and Risk — Elmira, NY
According to HUD data as of 2023, there were 109 mortgage originations in Elmira, NY, of which 76.0% of loans were conventional mortgages. The average loan-to-value was 72.0%, with 34.0% above 90% LTV (very high). This implies large mortgage risk in Elmira, NY. Investor activity is low, as 5.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 109 |
% Conventional Loans | 76.0% |
% Government Loans | 24.0% |
% Investor Loans | 5.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Elmira, NY
Elmira, NY lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 951 |
Total Units Section 8 | 787 |
% Rentals under Section 8 | 31.3% |
% Occupied Section 8 | 88.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$70 | $900 | $830 |
| 2 Bedroom | $140 | $950 | $1,090 |
| 3 Bedroom | $150 | $1,260 | $1,410 |
| 4 Bedroom | N/A | N/A | $1,530 |
Affordability — Elmira, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.5 |
| Median Home Price | $105,000 |
| Median Household Income | $40,500 |