Why Live in Niagara Falls
While its name may conjure nostalgic images of a bustling tourist destination, the city of Niagara Falls, New York, is considerably more understated than its next-door neighbor, Buffalo. From the late 1800s until the late 1960s, Niagara Falls boomed as industry and tourism grew at a steady pace, attracting large numbers of workers and their families. Since then, the core city has experienced its share of hardship and decline, as industry left for cheaper options elsewhere and environmental concerns bubbled to the surface of the southernmost neighborhoods.
Today the city is home to fewer than 50,000 residents, with a constant flow of tourism driving economic programs. “There are attempts at revitalization happening in Niagara Falls,” says John Cook, a lifelong area resident and a Realtor with Signature Real Estate Services. “In past years, we had a lot of out-of-town people buying up cheap properties to convert into absentee rentals, but they didn’t really make improvements. We’ve lately had a wave of Airbnb owners who are treating it differently. They’re taking more pride in their property, and the city is regulating it.”
Other attempts at reindustrialization are more
Home Trends in Niagara Falls, NY
On average, homes in Niagara Falls, NY sell after 34 days on the market compared to the national average of 70 days. The median sale price for homes in Niagara Falls, NY over the last 12 months is $197,500, up 660% from the median home sale price over the previous 12 months.
Median Sale Price
$197,500
Median Single Family Sale Price
$420,000
Median 2 Bedroom Sale Price
$265,000
Median 1 Bedroom Sale Price
$150,000
Average Price Per Sq Ft
$204
Number of Homes for Sale
8
Last 12 months Home Sales
46
Median List Price
$300,000
Median Change From 1st List Price
7%
Median Home Sale Price YoY Change
660%
