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No Fear of Freddy? Buying on Elm Street Can Be a Bargain
The biggest discount for living on Elm Street is in Youngstown, Ohio, where homes on Elm Street are worth 83 percent less than other homes in the city
Oct 25, 2018
SEATTLE, Oct. 25, 2018 /PRNewswire/ -- Home buyers can find a deal on Elm Streets across the U.S., where the typical home is worth $133,000. Nationally, the median U.S. home value is $220,100, about 65 percent higher.
Just in time for Halloween, Zillow® analyzed homes on Elm Streets across the country to find out where the most valuable Elm Streets are, and where buyers looking for a haunted experience have the best chances of finding a home on Elm Streeti. Across the country, there are 1,070 cities with at least 25 homes on an Elm Street.
The city with the priciest Elm Streets is Southampton, N.Y., where home values overall are among the highest in the country. The biggest premium for living on Elm Street is in Austin, Texas. People looking for a home in Youngstown, Ohio, will find the biggest Elm Street discount, with homes on Elm Streets worth 83 percent less than the typical home in the city.
These are the cities with the most and least expensive Elm Streets across the countryii:
Highest Elm Street Home Values | |||
City | Median Elm Street | Median City | Elm Street |
Southampton, N.Y. | $ 2,263,500 | $ 1,553,800 | 45.7% |
Wellesley, Mass. | $ 1,617,500 | $ 1,272,500 | 27.1% |
Chevy Chase, Md. | $ 1,565,900 | $ 944,100 | 65.9% |
San Carlos, Calif. | $ 1,533,800 | $ 1,935,300 | -20.7% |
San Francisco, Calif. | $ 1,257,700 | $ 1,374,400 | -8.5% |
Lowest Elm Street Home Values | |||
City | Median Elm Street | Median City | Elm Street |
Decatur, Ill. | $ 18,500 | $ 65,200 | -71.7% |
Hogansville, Ga. | $ 18,900 | $ 57,000 | -66.9% |
Toledo, Ohio | $ 19,000 | $ 68,600 | -72.3% |
Cumberland, Md. | $ 22,000 | $ 82,800 | -73.4% |
Lancaster, S.C. | $ 22,200 | $ 115,200 | -80.7% |
"Elm Streets riddle the United States. Some are picturesque treelined streets carrying big price tags. Others house the salt of the earth, affordable places for new families," said Zillow Director of Economic Research and Outreach Skylar Olsen. "Some people may enjoy sharing a name with one of the most famous streets in Hollywood, if they're brave…but they could be the site of a nightmare waiting to happen this Halloween!"
Residents of Conshohocken, Pennsylvania, and Herscher, Illinois, have the highest chance of encountering Freddy Krueger this Halloween. Just over 10 percent of homes in these cities are on Elm Streets, giving them the highest concentration in the country.
Staten Island and San Antonio residents have fewer opportunities to dream their nightmares on Elm Street, with less than one of every 10,000 homes in the city located along the haunted street.
Zillow
Zillow is the leading real estate and rental marketplace dedicated to empowering consumers with data, inspiration and knowledge around the place they call home, and connecting them with great real estate professionals. In addition, Zillow operates an industry-leading economics and analytics bureau led by Zillow Group's Chief Economist Dr. Svenja Gudell. Dr. Gudell and her team of economists and data analysts produce extensive housing data and research covering more than 450 markets at Zillow Real Estate Research. Zillow also sponsors the quarterly Zillow Home Price Expectations Survey, which asks more than 100 leading economists, real estate experts and investment and market strategists to predict the path of the Zillow Home Value Index over the next five years. Launched in 2006, Zillow is owned and operated by Zillow Group, Inc. (NASDAQ:Z and ZG), and headquartered in Seattle.
Zillow is a registered trademark of Zillow, Inc.
i This analysis was limited to cities with at least 25 homes on an Elm Street | ||
ii Limited to cities for which Zillow has a median home value | ||
SOURCE Zillow
For further information: Lauren Braun, Zillow, press@zillow.com