Elmira, NY—14905
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 $168,000, with a year-over-year change of 1.9%. This indicates that home prices in Elmira, NY are increasing. According to Zillow, the 1-year price projection is 0.9%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $168,000 | 1.9% |
| Single Family | $168,000 | 1.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $128,000 | 2.4% |
3 Bed | $165,000 | 2.5% |
4 Bed | $201,000 | 2.0% |
| 5 Bed | $244,000 | 1.7% |
% of Housing Stock
Rental Trends — Elmira, NY
As of July '25, Rentcast reports the average rent in Elmira, NY is $1,250, with a year-over-year rent change of 5.9%. Per bedroom, the median rent as of July '25 in Elmira, NY is 1-bedrooms: $1,020, 2-bedrooms: $1,090, 3-bedrooms: $1,880, 4-bedrooms: $1,480. The most common rental property sizes in Elmira, NY are 2-bedroom and 3-bedroom, accounting for 46.9% and 27.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,150 | $1,250 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $950 | $1,020 |
| 2 Bed Rent | $999 | $1,090 |
| 3 Bed Rent | $1,550 | $1,880 |
| 4 Bed Rent | $1,480 | $1,480 |
% 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 89. This is a increase of 161.0% 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 | $205,000 | 7.0% |
Listing Count | 56 | 32.0% |
| Listings as % of Homes | 0.6% | 32.0% |
Days on Market | 89 | 161.0% |
Demographics — Elmira, NY
As of the latest ACS Survey released in 2023, Elmira, NY has a population of 8,980, which has increased by 4.5% over the past 5 years. Elmira, NY is a moderately popular place for families, as children make up 23.3% of the population. The area has a moderately educated workforce, with 42.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 8,980 | 4.5% |
% Under 18 | 23.3% | 13.1% |
% Seniors | 19.3% | -7.2% |
% WFH | 9.0% | 900.0% |
% w/ College Degree | 42.2% | 4.2% |
As of the latest ACS Survey released in 2023, Elmira, NY is a predominantly white area, with 81.6% of the population identifying as white. The white population has shrunk by 9.7% in the last 5 years. The second most common race or ethnicity in Elmira, NY is black, making up 6.6% of the population. Foreign-born residents account for 4.6% of the population in Elmira, NY, and this percentage has increased by 43.8% 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 | 81.6% | -9.7% |
% Black | 6.6% | 29.4% |
% Hispanic | 3.0% | -21.1% |
% Asian | 2.9% | 866.7% |
% Foreign Born | 4.6% | 43.8% |
Mortgage and Risk — Elmira, NY
According to HUD data as of 2023, there were 147 mortgage originations in Elmira, NY, of which 84.0% of loans were conventional mortgages. The average loan-to-value was 62.0%, with 29.0% above 90% LTV (very high). This implies large mortgage risk in Elmira, NY. Investor activity is low, as 0.0% of loans were by investors. 4.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 147 |
% Conventional Loans | 84.0% |
% Government Loans | 16.0% |
% Investor Loans | 0.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 4.0% |
Loan Activity
Rentals and Section 8 — Elmira, NY
As of 2024, the percent of homes in Elmira, NY under the Section 8 program is 5.6%. 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. 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 | 210 |
Total Units Section 8 | 66 |
% Rentals under Section 8 | 5.6% |
% Occupied Section 8 | 90.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $60 | $950 | $1,010 |
| 2 Bedroom | $331 | $999 | $1,330 |
| 3 Bedroom | $140 | $1,550 | $1,690 |
| 4 Bedroom | $300 | $1,480 | $1,780 |
Affordability — Elmira, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 1.8 |
| Median Home Price | $168,000 |
| Median Household Income | $85,900 |