Niagara Falls, New York Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Niagara Falls, New York rental market.
Niagara Falls, New York
Average Apartment Rent
$979
Y-o-Y Change in Average
Apartment Rent
5%
As of November 2024
Compared to a year ago, Niagara Falls, New York apartments have recorded a 5% rent increase.
Niagara Falls, New York Average apartment rent trend
Niagara Falls, New York Average Apartment Rent
Niagara Falls, New York Apartment rent ranges
At 67.61%, apartments priced $700 - $1000 represent the bulk of Niagara Falls, New York rentals, while condos priced $1,500 - $2,000 hold the lowest share of the market – 3.76%.
Niagara Falls, New York Housing tenure**
Renters take up 44% of Niagara Falls, New York real estate, occupying a total of 9,870 units, while homeowners live in 12,558 properties.
Median number of rooms of renter-occupied housing units**
4.8
Renter median household income**
$23,762
Average household size of renter-occupied housing units**
2.06
Rental vacancy rate**
7.1%
Niagara Falls, New York Renter-occupied housing units by no. of bedrooms**
There are 4,273 rentals in Niagara Falls, New York with 2 beds making up the highest share of the market, at 43%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 107 units. Overall, the median number of rooms in Niagara Falls, New York homes for rent is 4.8.
Niagara Falls, New York Renter-occupied units by age of householder**
Most condos for rent in Niagara Falls, New York are occupied by residents in the 25 - 34 years age group (25%), followed by those in the 45 - 54 years age group (18%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 2%.
Niagara Falls, New York Renter-occupied housing units by family type**
Niagara Falls, New York Renter-occupied housing units by the presence of own children**
A total of 4,211 apartments for rent in Niagara Falls, New York, or 43% of all rentals are family households. Additionally, 33% of rental homes include children under the age of 18 – that’s 3,232 units. All in all, the median size of a renter-occupied household in Niagara Falls, New York is 2.06.
Niagara Falls, New York Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 15% of the rental market. In contrast, residents with less than a high school degree reside in 18% of the homes for rent in Niagara Falls, New York.
Niagara Falls, New York Renter-occupied units by year structure built**
The highest share of Niagara Falls, New York apartment rentals, namely 35% or 3,489 units, were Built 1939 or earlier, followed by those Built 1970 - 1979 (14%, 1,363 units), and the ones Built 1940 - 1949 (13%, 1,323 units).
Niagara Falls, New York Renter-occupied units by year householder moved in**
Median year renter moved into unit 2015
Most Niagara Falls, New York renters (50%) moved in 2010 to 2017, while only 2% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Niagara Falls, New York condos for rent is 2015.
Niagara Falls, New York Renter-occupied housing units by vehicles available**
When it comes to transportation options, 44% of Niagara Falls, New York renters have 1 vehicle available per household, 40% of them have No vehicle available, and 14% have 2 vehicles available.
Niagara Falls, New York Means of transportation to work of householders living in renter-occupied housing units**
Niagara Falls, New York Geographical mobility in the past year for householders living in renter-occupied housing units**
Niagara Falls, New York Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Niagara Falls, New York apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
