Elmira, NY—14903
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 $151,000, with a year-over-year change of -0.6%. This indicates that home prices in Elmira, NY are flat. According to Zillow, the 1-year price projection is 1.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $151,000 | -0.6% |
| Single Family | $151,000 | -0.7% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $110,000 | -1.8% |
3 Bed | $150,000 | 0.0% |
4 Bed | $233,000 | 0.9% |
| 5 Bed | $344,000 | 3.3% |
% of Housing Stock
Rental Trends — Elmira, NY
As of July '25, Rentcast reports the average rent in Elmira, NY is $1,300, with a year-over-year rent change of -7.1%. Per bedroom, the median rent as of July '25 in Elmira, NY is studios: $850, 1-bedrooms: $989, 2-bedrooms: $1,240, 3-bedrooms: $1,550, 4-bedrooms: $2,220. The most common rental property sizes in Elmira, NY are 2-bedroom and 1-bedroom, accounting for 43.0% and 30.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,050 | $1,300 |
| Studio Rent | $850 | $850 |
| 1 Bed Rent | $950 | $989 |
| 2 Bed Rent | $1,050 | $1,240 |
| 3 Bed Rent | $1,550 | $1,550 |
| 4 Bed Rent | $1,850 | $2,220 |
% 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 50. This is a decrease of -11.0% 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 13.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $207,000 | 11.0% |
Listing Count | 31 | 15.0% |
| Listings as % of Homes | 0.6% | 15.0% |
Days on Market | 50 | -11.0% |
Demographics — Elmira, NY
As of the latest ACS Survey released in 2023, Elmira, NY has a population of 7,140, which has decreased by -5.9% over the past 5 years. Elmira, NY is a moderately popular place for families, as children make up 20.1% of the population. The area has a moderately educated workforce, with 27.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 7,140 | -5.9% |
% Under 18 | 20.1% | -6.5% |
% Seniors | 17.8% | 1.1% |
% WFH | 7.5% | 581.8% |
% w/ College Degree | 27.7% | 8.6% |
As of the latest ACS Survey released in 2023, Elmira, NY is a predominantly white area, with 81.2% of the population identifying as white. The white population has shrunk by 13.9% in the last 5 years. The second most common race or ethnicity in Elmira, NY is black, making up 7.5% of the population. Foreign-born residents account for 2.6% of the population in Elmira, NY, and this percentage has decreased by 7.1% 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 | 81.2% | -13.9% |
% Black | 7.5% | 971.4% |
% Hispanic | 4.8% | 336.4% |
% Asian | 1.4% | -30.0% |
% Foreign Born | 2.6% | -7.1% |
Mortgage and Risk — Elmira, NY
According to HUD data as of 2023, there were 177 mortgage originations in Elmira, NY, of which 79.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 34.0% above 90% LTV (very high). This implies large mortgage risk in Elmira, NY. Investor activity is low, as 1.0% 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 | 177 |
% Conventional Loans | 79.0% |
% Government Loans | 21.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Elmira, NY
As of 2024, the percent of homes in Elmira, NY under the Section 8 program is 27.0%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Elmira, NY, because HUD payments exceed market rent, while 1-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 278 |
Total Units Section 8 | 278 |
% Rentals under Section 8 | 27.0% |
% Occupied Section 8 | 90.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$70 | $950 | $880 |
| 2 Bedroom | $110 | $1,050 | $1,160 |
| 3 Bedroom | -$80 | $1,550 | $1,470 |
| 4 Bedroom | -$300 | $1,850 | $1,550 |
Affordability — Elmira, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.1 |
| Median Home Price | $151,000 |
| Median Household Income | $66,100 |