And the healthiest housing market is ... Lackawanna? - The Buffalo News

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And the healthiest housing market is ... Lackawanna?

And the award for the healthiest housing market in New York State goes to ... Lackawanna?

No, it's not another example of envelope confusion, though some might argue that financial technology company SmartAsset could be moonlighting in La La Land.

The company, in its third-annual Healthiest Housing Markets Study, reported that the Southtowns city ranked No. 1 in the state for market health, based on factors such as the average number of years residents spend in their homes, home values, the ease of sale and the costs of home ownership.

According to the report, Lackawanna beat out the Long Island communities of Mineola and East Meadow, Central New York's Fairmount, and Hudson Falls north of Albany.

The specific measures were mixed. The study found that Lackawanna residents live in their homes for an average of 17.4 years, which is less than other communities in the ranking. It also reported that 7 percent of Lackawanna homes have "negative equity," and 14.1 percent are dropping in value - better than some cities and worse than others.

But housing expenses are just 21.2 percent of income - less than most other cities. And when homes go up for sale, they spend just 42 days on the market in Lackawanna - half the time of No. 2 Mineola.

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