Saranac Lake, NY—12983
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Saranac Lake, NY
As of Oct '25, the median home price in Saranac Lake, NY is $331,000, with a year-over-year change of -1.1%. This indicates that home prices in Saranac Lake, NY are decreasing. According to Zillow, the 1-year price projection is 0.5%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $331,000 | -1.1% |
| Single Family | $331,000 | -1.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $251,000 | -0.8% |
2 Bed | $264,000 | -1.9% |
3 Bed | $343,000 | -0.9% |
4 Bed | $462,000 | 1.8% |
| 5 Bed | $649,000 | 1.7% |
% of Housing Stock
Rental Trends — Saranac Lake, NY
As of July '25, Rentcast reports the average rent in Saranac Lake, NY is $3,050, with a year-over-year rent change of 121.0%. Per bedroom, the median rent as of July '25 in Saranac Lake, NY is studios: $945, 4-bedrooms: $3,750. The most common rental property sizes in Saranac Lake, NY are 1-bedroom and 2-bedroom, accounting for 44.3% and 31.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,750 | $3,050 |
| Studio Rent | $945 | $945 |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | $3,750 | $3,750 |
% of Rental Stock
Property Listings — Saranac Lake, NY
As of Oct '25, Realtor.com reports that the median days on market for a home in Saranac Lake, NY is 95. This is a decrease of -23.0% 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 4.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $528,000 | -8.0% |
Listing Count | 54 | 12.0% |
| Listings as % of Homes | 0.6% | 12.0% |
Days on Market | 95 | -23.0% |
Demographics — Saranac Lake, NY
As of the latest ACS Survey released in 2023, Saranac Lake, NY has a population of 7,410, which has remained stable by 0.5% over the past 5 years. Saranac Lake, NY is a moderately popular place for families, as children make up 16.5% 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 few residents working remotely, with 6.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 7,410 | 0.5% |
% Under 18 | 16.5% | -10.8% |
% Seniors | 23.5% | 18.7% |
% WFH | 6.9% | 38.0% |
% w/ College Degree | 42.6% | 12.4% |
As of the latest ACS Survey released in 2023, Saranac Lake, NY is a predominantly white area, with 92.5% of the population identifying as white. The white population has shrunk by 1.2% in the last 5 years. The second most common race or ethnicity in Saranac Lake, NY is hispanic, making up 2.5% of the population. Foreign-born residents account for 1.2% of the population in Saranac Lake, NY, and this percentage has decreased by 42.9% 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 | 92.5% | -1.2% |
% Black | 2.0% | -35.5% |
% Hispanic | 2.5% | 78.6% |
% Asian | 0.4% | 300.0% |
% Foreign Born | 1.2% | -42.9% |
Mortgage and Risk — Saranac Lake, NY
According to HUD data as of 2023, there were 91 mortgage originations in Saranac Lake, NY, of which 96.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 16.0% above 90% LTV (elevated). This implies medium mortgage risk in Saranac Lake, NY. Investor activity is low, as 2.0% 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 | 91 |
% Conventional Loans | 96.0% |
% Government Loans | 4.0% |
% Investor Loans | 2.0% |
% Second Loans | 11.0% |
% Cash Out Refinance | 4.0% |
Loan Activity
Rentals and Section 8 — Saranac Lake, NY
Saranac Lake, NY lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 289 |
Total Units Section 8 | 176 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 86.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $830 |
| 2 Bedroom | N/A | N/A | $1,000 |
| 3 Bedroom | N/A | N/A | $1,280 |
| 4 Bedroom | -$2,280 | $3,750 | $1,470 |
Affordability — Saranac Lake, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.8 |
| Median Home Price | $331,000 |
| Median Household Income | $64,600 |