Ballston Spa, NY—12020
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Ballston Spa, NY
As of Oct '25, the median home price in Ballston Spa, NY is $414,000, with a year-over-year change of 3.5%. This indicates that home prices in Ballston Spa, NY are increasing. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $414,000 | 3.5% |
| Single Family | $418,000 | 3.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $305,000 | 3.4% |
3 Bed | $403,000 | 3.3% |
4 Bed | $522,000 | 4.4% |
| 5 Bed | $573,000 | 4.6% |
% of Housing Stock
Rental Trends — Ballston Spa, NY
As of July '25, Rentcast reports the average rent in Ballston Spa, NY is $2,250, with a year-over-year rent change of -8.9%. Per bedroom, the median rent as of July '25 in Ballston Spa, NY is studios: $1,400, 1-bedrooms: $2,260, 2-bedrooms: $2,040, 3-bedrooms: $2,500, 4-bedrooms: $2,900. The most common rental property sizes in Ballston Spa, NY are 2-bedroom and 1-bedroom, accounting for 45.4% and 32.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,980 | $2,250 |
| Studio Rent | $1,400 | $1,400 |
| 1 Bed Rent | $1,580 | $2,260 |
| 2 Bed Rent | $1,980 | $2,040 |
| 3 Bed Rent | $2,300 | $2,500 |
| 4 Bed Rent | $2,900 | $2,900 |
% of Rental Stock
Property Listings — Ballston Spa, NY
As of Oct '25, Realtor.com reports that the median days on market for a home in Ballston Spa, NY is 47. 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 11.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $559,000 | 12.0% |
Listing Count | 175 | 25.0% |
| Listings as % of Homes | 0.9% | 25.0% |
Days on Market | 47 | -11.0% |
Demographics — Ballston Spa, NY
As of the latest ACS Survey released in 2023, Ballston Spa, NY has a population of 34,100, which has increased by 2.0% over the past 5 years. Ballston Spa, NY is a moderately popular place for families, as children make up 19.8% of the population. The area has a moderately educated workforce, with 42.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 34,100 | 2.0% |
% Under 18 | 19.8% | -6.6% |
% Seniors | 18.4% | 17.9% |
% WFH | 13.9% | 183.7% |
% w/ College Degree | 42.6% | 10.9% |
As of the latest ACS Survey released in 2023, Ballston Spa, NY is a predominantly white area, with 89.3% of the population identifying as white. The white population has shrunk by 1.7% in the last 5 years. The second most common race or ethnicity in Ballston Spa, NY is hispanic, making up 4.0% of the population. Foreign-born residents account for 3.8% of the population in Ballston Spa, NY, and this percentage has remained stable as of the ACS Survey 5 years prior, suggesting immigration has remained steady.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 89.3% | -1.7% |
% Black | 1.8% | 20.0% |
% Hispanic | 4.0% | 2.6% |
% Asian | 1.9% | -17.4% |
% Foreign Born | 3.8% | 0.0% |
Mortgage and Risk — Ballston Spa, NY
According to HUD data as of 2023, there were 821 mortgage originations in Ballston Spa, NY, of which 92.0% of loans were conventional mortgages. The average loan-to-value was 58.0%, with 20.0% above 90% LTV (very high). This implies large mortgage risk in Ballston Spa, NY. Investor activity is low, as 2.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 821 |
% Conventional Loans | 92.0% |
% Government Loans | 8.0% |
% Investor Loans | 2.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Ballston Spa, NY
As of 2024, the percent of homes in Ballston Spa, NY under the Section 8 program is 8.5%. 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 Ballston Spa, NY, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 362 |
Total Units Section 8 | 362 |
% Rentals under Section 8 | 8.5% |
% Occupied Section 8 | 84.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$60 | $1,580 | $1,520 |
| 2 Bedroom | -$140 | $1,980 | $1,840 |
| 3 Bedroom | -$80 | $2,300 | $2,220 |
| 4 Bedroom | -$460 | $2,900 | $2,440 |
Affordability — Ballston Spa, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.6 |
| Median Home Price | $414,000 |
| Median Household Income | $102,000 |