Metropolitan Statistical Area (MSA):
Corning, NY is a Metropolitan Statistical Area (MSA) comprising counties including .
There is no doubt that the Corning, NY metropolitan statistical area (MSA) has seen better days when it comes to real estate trends in the housing market. The area has been struggling for quite some time now, and it seems as if things are only getting worse. The vacancy rate in the MSA is currently at 11.6%, which is nearly double the national average of 6%. This means that there are a lot of homes sitting empty and not being used, which is obviously not good for the housing market. The median home price in the MSA is also quite low, at just $85,000. This is significantly lower than the national median home price of $219,700.
The good news is that there are still some pockets of hope within the MSA. For example, Elmira Heights has seen a slight uptick in home prices over the past year or so. Additionally, while many areas within the MSA have been struggling with high vacancy rates, this has not been as much of an issue in Horseheads. In fact, Horseheads actually has a lower vacancy rate than both Elmira and Corning (9% vs 11%).
Overall, it is clear that real estate trends in the Corning MSA are not looking too good right now. However, there are still some bright spots within the region that could be worth investing in if you are looking to buy a home in this area.