ZIP Code 14070 Housing Market

📝 Local Market Notes

ZIP code 14070 in Cattaraugus County exhibits a robust upward price trajectory, with the FHFA Home Price Index rising from 132.74 in 2019 to 221.94 in 2025. This represents a cumulative appreciation of approximately 67% over the six-year period, indicating sustained demand that has outpaced broader regional trends. The acceleration is particularly notable between 2021 and 2025, where the index climbed from 162.91 to 221.94, reflecting a significant tightening of the local market. The ZIP’s year-over-year growth of 8.42% diverges sharply from both the county and state averages. While Cattaraugus County reported a 8.42% increase, the state of New York saw a more moderate 3.55% rise. This divergence signals that 14070 is experiencing localized momentum that exceeds the general state-level recovery. The performance also contrasts with nearby ZIP 14731, which shows a higher HPI of 346.9 and a 16.03% YoY change, suggesting that while 14070 is appreciating, it remains in a different price tier than the premium sub-markets within the county. Contextualized by parent county data, 14070 functions as an affordable, owner-occupied sub-market. With a median home value of $113,100 and a median household income of $59,540, the area supports a high owner-occupancy rate of 75.2%. The HPI level of 221.9, despite the strong growth, aligns with entry-level pricing rather than luxury segments. For prospective buyers, the key consideration is the rapid appreciation rate relative to the low baseline price. While the 7.40% national mortgage rate increases carrying costs, the low median home value in 14070 preserves relative affordability compared to state averages. Residents should note that the market is moving faster than the state norm, requiring timely engagement to secure properties before further price adjustments.

Based on FHFA House Price Index data.