Real Estate Investing in Homer, New York (13077)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 13077 (Homer, NY)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 8.4% vacancy may signal weakening demand.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Homer, NY (13077)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 13077 Homer
Not every below-median market is a bargain. Homer's 13077 ZIP registers signals that favor experienced operators who can absorb the risk $235K pricing implies.
Distressed markets are won on execution, not on spreadsheets. ZIP 13077 reflects the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Statewide comparisons place 13077 among NY's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Employment concentration in 13077 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
looks to the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Homer:
Property Strategy for 13077
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $185,303 | $1,380 | 5.4% | +7.6% | $92,652 |
| 3BR | $212,793 | $1,740 | 5.9% | +7.7% | $70,931 |
| 4BR | $244,421 | $2,290 | 6.7% | +7.9% | $61,105 |
| 5BR | $302,182 | — | — | +7.5% | $60,436 |
Market Trends
Home Value History (with trend line)
📊 How Does 13077 Compare?
| Metric | 13077 | Homer | Cortland, NY | New York |
|---|---|---|---|---|
| Home Value | $235,161 | $235,161 | N/A | $505,608 |
| 5-Year CAGR | 6.7% | 6.7% | N/A | 6.6% |
| Avg Rent | $1,242 | $1,242 | N/A | - |
| Cap Rate | 4.1% | 4.1% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 13077 (Homer, NY). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $235,161 |
| Monthly Rent | $1,242 |
| Price-to-Rent | 15.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.3% |
| Cap Rate | 4.1% |
| 5-Year IRR | 10.8% |
📈 Home Appreciation
| 1-Year | +9.1% ▲ |
| 3-Year CAGR | +6.2% ▲ |
| 5-Year CAGR | +6.7% ▲ |
| 10-Year CAGR | +6.2% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.1%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 13077
Population: 6,567
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 13077
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
What are rental rates like in Homer, NY?
Rents in Homer, NY run near $1,242/mo. Compared with median home prices of $235K that produces solid gross yields for typical rentals.
What is the best play in Homer, NY?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Homer, NY. The numbers - $235K homes against $1,242/mo rents - support that play.
Is Homer, NY good for landlords?
Rental owners in Homer, NY deal with a tenant-protective legal framework. Most standard eviction processes run on reasonable timelines.
Is Homer, NY good for house hacking?
Homer, NY is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $235K price point reasonable to enter.
What is the median home value in Homer, NY?
Homer, NY home values average about $235K. That price point suits investors targeting rentals with $1,242/mo in monthly income.
You know 13077 now. You don’t know where it ranks.
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How 13077 ranks in Cortland, NY
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