ZIP Code 13748 Housing Market

📝 Local Market Notes

ZIP code 13748 exhibits a volatile and atypical price trajectory over the recent five-year period. The Home Price Index (HPI) peaked at 170.6 in 2024 before retreating to 148.05 in 2025, representing a sharp year-over-year decline of 13.22%. This recent contraction contrasts with the broader regional stability, as the HPI had previously fluctuated between 117.04 in 2022 and 158.71 in 2020. Such erratic movement suggests limited transaction volume or idiosyncratic sales data rather than a sustained market shift, a common characteristic of smaller, rural sub-markets where individual high-value transactions can disproportionately skew index calculations. This performance signals a significant divergence from both the county and state levels. While Broome County’s overall housing market expanded by 7.82% and New York State grew by 3.55% in the same period, ZIP 13748 contracted substantially. This negative deviation indicates that local supply and demand dynamics are not tracking with the broader county recovery. The disparity highlights that 13748 is operating as an isolated micro-market, likely influenced by specific local factors such as aging housing stock or limited new construction, rather than benefiting from the general appreciation seen in neighboring areas. The sub-market character of 13748 appears to be entry-level and modest relative to the county median. With a parent county median home value of $154,900 and an HPI level of 148.05, the area likely features lower-priced housing stock compared to nearby ZIPs like 13901, which commands an HPI of 279.1. The county’s 64.5% owner-occupancy rate and median household income of $62,616 suggest a mixed market with a significant rental component, evidenced by the $941 median gross rent. For prospective buyers, the current 7.40% national mortgage rate combined with the local price correction may present an opportunity for affordability. However, the data volatility necessitates caution, as the limited transaction history in this specific ZIP code reduces the reliability of short-term trend analysis.

Based on FHFA House Price Index data.