Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 20,602, 9,220 total housing units (homes and apartments), and a median house value of $176,967, house prices in Lockport are solidly below the national average.
Single-family detached homes are the single most common housing type in Lockport, accounting for 57.96% of the city's housing units. Other types of housing that are prevalent in Lockport include duplexes, homes converted to apartments or other small apartment buildings ( 23.64%), large apartment complexes or high rise apartments ( 16.12%), and a few row houses and other attached homes ( 1.59%).
The most prevalent building size and type in Lockport are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 55.35% owning and 44.65% renting.
The housing in Lockport was primarily built before 1939 ( 51.25%), making the housing stock in Lockport some of the oldest overall in America, although there is a range of ages of homes in Lockport. The next most important housing age is between 1940-1969 ( 25.69%), followed by between 1970-1999 ( 19.51%). There's also some housing in Lockport built between 2000 and later ( 3.55%).
Vacant housing appears to be an issue in Lockport. Fully 10.08% of the housing stock is classified as vacant. Left unchecked, vacant Lockport homes and apartments can be a drag on the real estate market, holding Lockport real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Appreciation rates for homes in Lockport have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 96.03%, which ranks in the top 40% nationwide. This equates to an annual average Lockport house appreciation rate of 6.96%.
Over the last year, Lockport appreciation rates have trailed the rest of the nation. In the last twelve months, Lockport's appreciation rate has been 2.73%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Lockport were at 2.79%, which equates to an annual appreciation rate of 11.65%.
Relative to New York, our data show that Lockport's latest annual appreciation rate is lower than 80% of the other cities and towns in New York.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Lockport differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lockport - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Lockport real estate investment or home purchase decisions.
$176,967
for New york
for nation
9,220
$1,513 / per month