Lackawanna, New York Real Estate & Housing Market

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Lackawanna Housing Information

Index	Lackawanna	New York	National
Median home price	$84,800	$286,300	$184,700
Median rent asked	$604	$1,159	$949
Avg. people per household	2.3	2.6	2.6
Owner occupied households	52.8%	53.6%	63.6%
Renter occupied households	47.2%	46.4%	36.4%

The above shows an overview of the real estate market in Lackawanna, NY. Note how the median home price for Lackawanna, NY runs $84,800, which is 70% lower than the average property price for New York. So you’re going to get real estate in Lackawanna, NY that is on-average more affordable than what you’ll find in the rest of New York. As for rent, the median for Lackawanna, NY runs $604, which is comparatively 48% lower than the average rent for New York. For Lackawanna, NY, about 52.8% of the population consist of home owners with about 2.3 people living in each property on average. Whether you’re looking for condos or townhomes that are low-maintenance and affordable or sprawling mansions, Lackawanna, NY offers a wide variety of real estate. To find your perfect home in Lackawanna, NY, filter your choice by price, location, and number of beds and baths using the search area above.

Lackawanna Home Affordability

When deciding where to purchase Lackawanna, NY real estate, home affordability is one of the top deciding factors. One way that you can calculate the affordability of your next home is to use this formula: median home price to median household income ratio. In Lackawanna, NY the median home price is $84,800 and $35,563 is the median household income. As a result, the home price to income ratio in Lackawanna, NY is 2.4x, which is 49% lower than the New York average. In order to determine the home affordability ratio, you would divide the median home price by the median home income. If you find that in Lackawanna, NY the home price to income ratio is lower than average, that means that in general, housing is more affordable. While there more than just one factor in deciding home affordability, you can use the home affordability calculator below as an additional tool when deciding how much you can and should pay for real estate in Lackawanna, NY.

Nearby cities with low home prices

City, State	Population	Home Price	National Avg.
University at Buffalo, NY	6,230	$0	100%
Buffalo, NY	258,989	$72,600	61%
Sloan, NY	3,606	$75,700	59%
Blasdell, NY	2,616	$92,200	50%
Tonawanda city, NY	14,991	$94,600	49%
Lackawanna, NY	17,992	$84,800	54%

Cities with similar population

City, State	Population	Home Price	National Avg.
Fairhope, AL	17,996	$243,900	32%
Wisconsin Rapids, WI	17,987	$84,600	54%
Suwanee, GA	18,001	$251,300	36%
Springboro, OH	17,978	$207,500	12%
Westbrook, ME	17,969	$204,300	11%
Lackawanna, NY	17,992	$84,800	54%

Source: The Lackawanna, NY housing data displayed above is derived from the 2016 United States Census Bureau American Community Survey (ACS).