Cities with the most expensive homes in Ithaca metro area
Buying a home is an investment and an increasingly expensive one. The typical value of a home in the United States today is $316,368, a 19.3% increase over the last year.
Stacker compiled a list of cities with the most expensive homes in Ithaca, NY metro area using data from Zillow. Cities are ranked by the Zillow Home Values Index for all homes as of January 2022. Cities with at least three years of historical data were included. The charts in this story were created automatically using Matplotlib.
Home buyers have a lot to consider when house-hunting or looking to invest in rental properties, from the state of the housing market itself to taxes and potential resale value. The housing market grew robust and pricey in the decade following the 2008 recession, and more recently saw a boom during the coronavirus pandemic. Another consideration is the house itself, including what kind of upkeep it requires and those associated costs. Depreciation affects all homes at an average rate of 3.636% each year, which can be a help come tax season if you use your home for business or rentals but may cost you later in capital gains taxes when you sell. Meanwhile, land value tends to increase over time depending on several factors including where the house is located and what amenities and homes are nearby. More desirable neighborhoods allow sellers to charge more; the mantra "location, location, location" has never been more relevant.
How does your city rank? See the cities with most expensive houses in Ithaca, NY metro below:
