The housing market in Lorraine, NY is an attractive option for many potential homeowners. The median value of a home in Lorraine, NY is $145,700 which is much lower than the US median house value of $338,100. This makes Lorraine a more affordable option than other parts of the country. Furthermore, houses in Lorraine have appreciated by 9.27% over the last year compared to 8.27% for the US as a whole. With this increase in value and its relatively low cost, Lorraine's housing market offers great potential for families looking to become homeowners while still having access to all the amenities that come with living in New York State.
The median home cost in Lorraine is $145,700. Home appreciation the last 10 years has been 30.9%. Home Appreciation in Lorraine is up 11.4%.
Average Age of Homes
- The median age of Lorraine real estate is 30 years old
The Rental Market in Lorraine
- Renters make up 15.8% of the Lorraine population
- 1.6% of houses and apartments in Lorraine, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.