Silver Creek is home to the best residential real estate investment market in New York.
The 14136 zip code in Silver Creek presents the greatest opportunity for the best real estate investments among the 8,600 individual real estate markets in New York we evaluated. We looked at property values, population trends, and six other metrics for each market. We used that data to calculate each market's InvestScore.
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Data sources
Most of the data in this article comes from the Zillow Home Value Index and the U.S. Census American Community Survey.
We update our data when the original sources update their data, usually monthly. Sometimes we'll update data more frequently.
Clever also performs regular quality checks to identify outdated data, broken data connections, and other data issues that may arise.
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5 best places to invest in New York
| Rank | City | InvestScore | Affordability | Property value appreciation |
|---|---|---|---|---|
| 1 | Silver Creek | 100 | 2.6 | 51% |
| 2 | Niagara Falls | 99.9 | 2.8 | 57% |
| 3 | Clay | 99.6 | 2.4 | 58% |
| 4 | Johnson City | 98.0 | 2.6 | 57% |
| 5 | Buffalo | 97.9 | 3.0 | 52% |
🚨 This article is for informational purposes only. It isn't intended to convey financial or legal advice. We recommend you talk to a real estate agent or real estate attorney when buying a home in New York.
1. Silver Creek
We've identified the 14136 zip code in Silver Creek as New York's best real estate investment market. Here's why.
🔎 Key data about Silver Creek (14136)
| Data point | Value | Rank in state (of 8,600 markets) |
|---|---|---|
| InvestScore | 100 | Highest |
| Typical property value | $180,274[1] | 71st lowest |
| Five-year appreciation | 51%[2] | 102nd highest |
| Household income | $69,567[3] | 526th highest |
| Affordability ratio | 2.6 | 37th most affordable |
| Five-year population growth | 3.3%[4] | 79th highest |
| Unemployment rate | 4%[5] | 8th lowest |
| Property taxes | $3,196[6] | 63rd lowest |
| Educational attainment | 27%[7] | 333rd highest |
Silver Creek (zip code 14136) is the best residential real estate investment market in New York. It has the 102nd highest property value appreciation among markets we evaluated, with a 51% appreciation of the typical property over the last five years.
Silver Creek is the 37th most affordable market among the 8,600 New York markets we evaluated, with an affordability ratio of 2.6.
2. Niagara Falls
The 14305 zip code in Niagara Falls is the runner-up spot for the best real estate investments in New York.
🔎 Key data about Niagara Falls (14305)
| Data point | Value | Rank in state (of 8,600 markets) |
|---|---|---|
| InvestScore | 99.9 | 2nd highest |
| Typical property value | $141,911[1] | 25th lowest |
| Five-year appreciation | 57%[2] | 26th highest |
| Household income | $51,004[3] | 654th highest |
| Affordability ratio | 2.8 | 62nd most affordable |
| Five-year population growth | 1.6%[4] | 182nd highest |
| Unemployment rate | 4%[5] | 7th lowest |
| Property taxes | $2,793[6] | 41st lowest |
| Educational attainment | 26%[7] | 342nd highest |
The 14305 zip code in Niagara Falls features a typical property value of $141,911, the 25th lowest in the state.
Property values have appreciated 57% over the past five years, the 26th highest increase among evaluated markets in the state. Niagara Falls homes have an affordability ratio of 2.8, the 62nd most affordable in the state.
3. Clay
The 13041 zip code in Clay comes in at No. 3 in our ranking of the best residential real estate investment markets in New York.
🔎 Key data about Clay (13041)
| Data point | Value | Rank in state (of 8,600 markets) |
|---|---|---|
| InvestScore | 99.6 | 3rd highest |
| Typical property value | $294,117[1] | 212th lowest |
| Five-year appreciation | 58%[2] | 24th highest |
| Household income | $120,188[3] | 198th highest |
| Affordability ratio | 2.4 | 30th most affordable |
| Five-year population growth | 2%[4] | 153rd highest |
| Unemployment rate | 3.8%[5] | 5th lowest |
| Property taxes | $5,473[6] | 270th lowest |
| Educational attainment | 39%[7] | 231st highest |
With a typical property value of $294,117, Clay's 13041 zip code features the 212th lowest property values in the state.
Clay homes have an affordability ratio of 2.4, the 30th most affordable among the markets we evaluated.
4. Johnson City
The 13790 zip code in Johnson City ranks No. 4 among New York's residential real estate investment markets.
🔎 Key data about Johnson City (13790)
| Data point | Value | Rank in state (of 8,600 markets) |
|---|---|---|
| InvestScore | 98.0 | 4th highest |
| Typical property value | $151,964[1] | 35th lowest |
| Five-year appreciation | 57%[2] | 27th highest |
| Household income | $59,045[3] | 27th highest |
| Affordability ratio | 2.6 | 35th most affordable |
| Five-year population growth | 1%[4] | 240th highest |
| Unemployment rate | 4.1%[5] | 9th lowest |
| Property taxes | $4,121[6] | 133rd lowest |
| Educational attainment | 30%[7] | 307th highest |
Property values in Johnson City's 13790 zip code have seen the 27th highest increase among evaluated markets in the state, with an appreciation of 57% over the past five years.
Johnson City's affordability ratio of 2.6 makes it the 35th most affordable among the 8,600 markets we evaluated.
5. Buffalo
The 14211 zip code in Buffalo rounds out our top five residential real estate investment markets in New York.
🔎 Key data about Buffalo (14211)
| Data point | Value | Rank in state (of 8,600 markets) |
|---|---|---|
| InvestScore | 97.9 | 5th highest |
| Typical property value | $108,077[1] | 9th lowest |
| Five-year appreciation | 52%[2] | 72nd highest |
| Household income | $36,300[3] | 72nd highest |
| Affordability ratio | 3.0 | 111th most affordable |
| Five-year population growth | 3%[4] | 95th highest |
| Unemployment rate | 4%[5] | 7th lowest |
| Property taxes | $1,082[6] | 2nd lowest |
| Educational attainment | 18%[7] | 406th highest |
Property values in Buffalo's 14211 zip code rose 52% over the last five years, ranking the city 72nd highest among evaluated markets in New York.
Buffalo homes have an affordability ratio of 3.0, the 111th most affordable among the markets we evaluated.
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Frequently asked questions
See our article Steps to Buying Your First Rental Property to learn the basics of real estate investing for beginners.
You'll learn the importance of setting goals, picking the right market, and more.
Cash investors often use what's called the 70% rule, which suggests they should pay around 70% of a house's after-repair value minus the cost of renovations.
By buying for about 70% of the after-repair value, they're positioning themselves to pay for repairs and other costs, and to lock in a profit.
The 70% rule isn’t a hard-and-fast formula, but a quick guideline investors use to evaluate potential deals.
Investing in residential real estate can be one of the best passive real estate investments in New York.
Residential real estate offers accessible passive income and the potential to compound your original investment.
Renting out residential units is the top way to invest in real estate. House hacking also offers a great opportunity for passive real estate investment income.
How we rank residential real estate markets in New York
To determine the best real estate investments in New York we evaluated 8,600 markets on eight metrics, and then assigned an InvestScore based on a proprietary weighting framework. Each market corresponds to a specific zip code in New York.
What is InvestScore?
InvestScore is a score on a scale of 0 (worst in state) to 100 (best in state) that estimates the residential real estate investment potential of a given market. It takes into account a suite of key data points for each city.
- Typical property value: This measures the typical home value in this zip code, according to the Zillow Home Value Index. It reflects the typical value for homes in the 35th to 65th percentile range, including all homes, with the numbers smoothed and seasonally adjusted. We prefer lower property values, which indicate both more room for growth and a greater ease of purchase.
- Property value appreciation: This measures how much property values have increased in the area over the past five years, according to the Zillow Home Value Index. We prefer a higher appreciation, as it indicates better returns on housing. However, past performance isn't indicative of future results.
- Median household income: This is the inflation-adjusted median household income in the zip code, according to U.S. Census American Community Survey data. We prefer a higher household income, as it indicates local residents have more income to spend on housing.
- Affordability ratio: This is the ratio of the typical home value to the median household income in the area. A lower ratio is better because it means more households can afford a home, which indicates higher demand.
- Population growth: This is how much the area's population has grown over the past five years, according to U.S. Census estimates. Higher is better, as it indicates residents are moving into the area at a rapid clip.
- Unemployment rate: This is the unemployment rate in the area, according to U.S. Census data. We prefer a lower rate, as it indicates the availability of steady employment in the area, meaning residents will find it much easier to afford homes.
- Property tax: This is the median real estate property tax paid in the area, according to U.S. Census estimates.
- Educational attainment: This is the percentage of residents in the area that have obtained a bachelor's degree or better, according to U.S. Census estimates. We prefer a higher rate because it indicates local residents who have higher earning potential and thus should be able to afford homes.
