The housing market in Otto, NY is booming. The median value for a house in the area is $158,800 which is significantly lower than the US median value of $338,100. Additionally, the 1 year appreciation rate for houses in Otto was 12.09%, which is higher than the national average of 8.27%. This suggests that housing prices are increasing at a faster rate in Otto than they are on average across the country. This makes Otto an attractive option for those looking to buy a home due to its relatively low prices and high property appreciation potential.
The median home cost in Otto is $158,800. Home appreciation the last 10 years has been 64.5%. Home Appreciation in Otto is up 14.6%.
Average Age of Homes
- The median age of Otto real estate is 56 years old
The Rental Market in Otto
- Renters make up 12.4% of the Otto population
- 0.0% of houses and apartments in Otto, 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.