Elmira, NY—14904
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 $97,000, with a year-over-year change of -3.9%. This indicates that home prices in Elmira, NY are decreasing. According to Zillow, the 1-year price projection is 1.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $97,000 | -3.9% |
| Single Family | $97,000 | -4.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $90,000 | -3.2% |
3 Bed | $100,000 | -3.8% |
4 Bed | $105,000 | -2.8% |
| 5 Bed | $89,000 | -9.2% |
% of Housing Stock
Rental Trends — Elmira, NY
As of July '25, Rentcast reports the average rent in Elmira, NY is $1,290, with a year-over-year rent change of 24.0%. Per bedroom, the median rent as of July '25 in Elmira, NY is 1-bedrooms: $912, 2-bedrooms: $1,140, 3-bedrooms: $1,290, 4-bedrooms: $1,970. The most common rental property sizes in Elmira, NY are 3-bedroom and 1-bedroom, accounting for 35.6% and 29.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,200 | $1,290 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $675 | $912 |
| 2 Bed Rent | $1,000 | $1,140 |
| 3 Bed Rent | $1,250 | $1,290 |
| 4 Bed Rent | $1,500 | $1,970 |
% 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 59. This is a increase of 76.0% 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 10.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $80,600 | -4.0% |
Listing Count | 96 | 81.0% |
| Listings as % of Homes | 0.5% | 81.0% |
Days on Market | 59 | 76.0% |
Demographics — Elmira, NY
As of the latest ACS Survey released in 2023, Elmira, NY has a population of 14,300, which has decreased by -7.8% over the past 5 years. Elmira, NY is a moderately popular place for families, as children make up 20.8% of the population. The area has a poorly educated workforce, with 17.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 14,300 | -7.8% |
% Under 18 | 20.8% | -14.8% |
% Seniors | 18.8% | 42.4% |
% WFH | 5.9% | 168.2% |
% w/ College Degree | 17.2% | 13.9% |
As of the latest ACS Survey released in 2023, Elmira, NY is a predominantly white area, with 83.0% 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 Elmira, NY is black, making up 7.0% of the population. Foreign-born residents account for 2.3% of the population in Elmira, NY, and this percentage has increased by 109.1% 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 | 83.0% | 0.0% |
% Black | 7.0% | -10.3% |
% Hispanic | 4.7% | 34.3% |
% Asian | 0.3% | 50.0% |
% Foreign Born | 2.3% | 109.1% |
Mortgage and Risk — Elmira, NY
According to HUD data as of 2023, there were 214 mortgage originations in Elmira, NY, of which 77.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 36.0% above 90% LTV (very high). This implies large mortgage risk in Elmira, NY. Investor activity is low, as 4.0% 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 | 214 |
% Conventional Loans | 77.0% |
% Government Loans | 23.0% |
% Investor Loans | 4.0% |
% 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 16.7%. 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. In Elmira, NY, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 602 |
Total Units Section 8 | 382 |
% Rentals under Section 8 | 16.7% |
% Occupied Section 8 | 90.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $295 | $675 | $970 |
| 2 Bedroom | $270 | $1,000 | $1,270 |
| 3 Bedroom | $360 | $1,250 | $1,610 |
| 4 Bedroom | $200 | $1,500 | $1,700 |
Affordability — Elmira, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 1.6 |
| Median Home Price | $97,000 |
| Median Household Income | $54,600 |