Real Estate Investing in Ithaca, New York (14850)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 14850 (Ithaca, NY)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 9.5% vacancy may signal weakening demand.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
What’s happening in Ithaca, NY (14850)?
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Market Analysis: 14850 Ithaca
ZIP 14850 in Ithaca, NY carries a robust set of headwinds. Home values near $420K and rents of $1,929/mo sit inside a market where underwriting has to be tight.
From an investor standpoint, the numbers look inviting — $420K purchase price, 0.0% nominal cap — the work to hit that pro forma in 14850 is substantial and deserves full respect.
Nearby ZIPs in Ithaca have seen price recovery that 14850 has not matched. Tompkins County data supports the view that the spread is structural rather than temporary.
Demographically, 14850 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
Strategically, 14850 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Ithaca:
Property Strategy for 14850
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $245,829 | $1,580 | 4.6% | +4.0% | $245,829 |
| 2BR | $286,349 | $1,890 | 4.8% | +6.8% | $143,175 |
| 3BR | $377,950 | $2,270 | 4.3% | +7.4% | $125,983 |
| 4BR | $511,165 | $2,830 | 4.0% | +7.9% | $127,791 |
| 5BR | $580,143 | — | — | +7.5% | $116,029 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 14850 Compare?
| Metric | 14850 | Ithaca | Ithaca, NY | New York |
|---|---|---|---|---|
| Home Value | $420,389 | $105,097 | N/A | $505,608 |
| 5-Year CAGR | 6.3% | 6.3% | N/A | 6.6% |
| Avg Rent | $1,929 | $1,929 | N/A | - |
| Cap Rate | 3.6% | 3.6% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 14850 (Ithaca, NY). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $420,389 |
| Monthly Rent | $1,929 |
| Price-to-Rent | 18.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.5% |
| Cap Rate | 3.6% |
| 5-Year IRR | 9.9% |
📈 Home Appreciation
| 1-Year | +5.2% ▲ |
| 3-Year CAGR | +4.6% ▲ |
| 5-Year CAGR | +6.3% ▲ |
| 10-Year CAGR | +5.5% ▲ |
🏠 Rent Trends
| 1-Year | -10.2% ▼ |
| 3-Year CAGR | -2.0% ▼ |
| 5-Year CAGR | +2.2% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.6%). 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 14850
Population: 66,495
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 14850
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
Investor Insight: With 1,137 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Where do rents currently stand in Ithaca, NY?
The typical rental in Ithaca, NY commands about $1,929/mo monthly. That rent profile consistent cash flow against the $420K purchase basis.
Is Ithaca, NY good for landlords?
For rental operators, Ithaca, NY rates as tenant-protective. The regulatory environment standard buy-and-hold operations.
Is Ithaca, NY a good place for real estate investing?
Yes - Ithaca, NY a 3.0/5 investability score. With $420K home prices against $1,929/mo monthly rent, the market delivers a reasonable entry point for new investors.
What is the best play in Ithaca, NY?
Ithaca, NY investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($420K prices, $1,929/mo rents) make it a reasonable choice.
What kind of vacancy should I budget for in Ithaca, NY?
Occupancy in Ithaca, NY runs reliable with elevated vacancy. Well-priced units at $1,929/mo lease on reasonable timelines.
You know 14850 now. You don’t know where it ranks.
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How 14850 ranks in Ithaca, NY
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