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Ithaca, NY Investment Data and Rental Metrics
Investment Data & Rental Metrics
LTR & STR financial performance, market growth indicators, and school ratings.
LTR Financial Performance
Median Price
LTR Rent
$2,231
Monthly Cash Flow
-$798
Principal + Equity
$2,080
Annual Total Gain
$15,381
Cash on Cash
-9.39%
Net ROI %
STR Financial Performance
Median Price
Avg. Daily Rate
$225
Occupancy Rate
60.87%
Monthly Revenue
$2,949
Monthly Cash Flow
-$522
Principal + Equity
$2,080
Annual Total Gain
$18,689
Cash on Cash %
-6.15%
Net ROI %
Market Health & Growth
Median Income
$48,617
Population
31,792
LTR Renter %
71.1%
Forecast (1 yr)
1.7%
Appreciation (1 yr)
2.07%
Appreciation (5 yr)
42.79%
Appreciation (10 yr)
66.01%
Job Growth
-0.11%
LTR Rentability
Low
STR Demand
67
STR Rentals
752
Top Public Schools
A-Ithaca Senior High School
A-Northeast School
B
B
B
Market Grades and Information
Best Places to Live Ranking
Public school quality, cost of living, commute, and lifestyle ratings.
B
Overall
Top-level market grade
Best Places to Live in New York
#278out of 912 markets
Best Places for Young Professionals in New York
#213out of 912 markets
Places with the Best Public Schools in New York
#239out of 591 markets
B
Public School
C-
Crime And Safety
D
Housing
A
Nightlife
B
Good For Families
Diversity
Jobs
Weather
Cost Of Living
Health And Fitness
Outdoor Activities
Commute
Short-Term Rental (STR) Regulations
Local rules and guidelines for operating short-term rentals in Ithaca, NY.
In Ithaca, NY, short term rentals are regulated by the city's Zoning Code. The city defines short term rentals as any rental of a dwelling unit for a period of less than 30 consecutive days.
Investors looking to purchase a property for short term rental in Ithaca should be aware of the following regulations:
1. Zoning Restrictions: The city of Ithaca has specific zoning regulations that govern short term rentals. Investors should ensure that the property they are considering is located in a zone that allows for short term rentals.
2. Licensing and Registration: Short term rental hosts in Ithaca are required to obtain a Short Term Rental Permit from the city. This permit must be renewed annually and hosts must comply with all applicable regulations.
3. Occupancy Limits: The city of Ithaca has occupancy limits for short term rentals, which vary depending on the size of the property. Investors should be aware of these limits and ensure that they are in compliance.
4. Safety and Building Code Requirements: Short term rental properties in Ithaca must meet all applicable safety and building code requirements. Investors should ensure that their property is up to code before renting it out.
5. Taxes: Short term rental hosts in Ithaca are required to collect and remit occupancy taxes to the city. Investors should be aware of these tax obligations and factor them into their financial planning.
Overall, investors looking to purchase a property for short term rental in Ithaca should familiarize themselves with the city's regulations and ensure that they are in compliance to avoid any potential legal issues.
Market Trends Over Time
Explore 25 years of market data for Ithaca, NY, including median property prices, long-term rental rates, and days on market — identify growth potential and gauge market stability.
Median Price
Median Rent
Days on Market
Nearest Markets
Explore nearby investment markets close to Ithaca, NY.
The LTR Genie Score of Ithaca, NY is 59 and STR Genie Score is 64, indicating a moderate to high level of investment potential in both long-term and short-term rental markets. The LTR Rentability is low, which may be due to factors such as high property prices or low demand for long-term rentals in the area. However, the LTR Net ROI of 15.09% suggests that long-term rental investments can still be profitable. On the other hand, the STR Net ROI of 18.33% and high STR Genie Score indicate that short-term rental investments may offer higher returns and better rentability in Ithaca.
Ithaca, NY is known for being a college town with a strong rental market driven by students and faculty members from Cornell University and Ithaca College. This can create opportunities for both long-term and short-term rental investments, as there is a consistent demand for housing in the area. Additionally, the 1-Year Price Appreciation Forecast of 1.7% suggests that property values in Ithaca are expected to increase slightly in the near future, making it a potentially lucrative market for real estate investors.
In conclusion, Ithaca, NY presents opportunities for both long-term and short-term rental investments, with the potential for solid returns in both markets. Investors may want to consider diversifying their portfolio by investing in both rental strategies to maximize their profits in this market.
LTR Genie Score 56
$525,000
🛏 4 Beds🛁 2.0000 Baths🏙 2,316 sqft.🏠 SINGLE FAMILY
