Elmira ranked one of the most affordable housing markets in the nation

Good news for Elmira, New York!

According to a new report from the NYS Association of Realtors, Elmira is one of the most affordable housing markets in the NATION! The other is top area in New York State is Syracuse.

Elmira was ranked tops for small market affordability in the second quarter of 2015.

This report was pulled from data recently released from the National Association of Home Builders called the HOI, Housing Opportunity Index, which calculates affordability of homes to the median salary earned by families who live in that area. California was consistently at the bottom of the list. Kokomo, Indiana was deemed the single most affordable small housing market in this year’s second quarter. There, 95.5 percent of homes sold were affordable to families earning the area’s median income of $55,200.

Smaller markets joining Kokomo at the top of the list included Davenport-Moline-Rock Island, Iowa; Lima, Ohio; Cumberland, Maryland; and Elmira, New York.

I also had this confirmed last week by a local appraiser who said Elmira properties are holding their value, and even increasing.

Check out the short article, dated August 14, here.