In recent decades, Geneva has transformed from a city of homeowners to a city of renters.
The median value of owner-occupied housing in Geneva has declined. It was $106,100 in 2021. Nationally, the median was $244,900. The chart below shows the pattern of decline in the value of this housing in the city.
Note: Median values are adjusted for inflation.
The city has experienced a net loss in housing units over the decade. Although the census estimates show peaks and valleys, the dotted trendline in the chart below shows a steady decline of units.
SUBSIDIZED HOUSING
The National Low-Income Housing Coalition estimates that households in Ontario County needed an annual income of $40,240 in 2021 to afford a two-bedroom housing unit. According to the U.S. Census, a third of the city’s households made less than $35,000 in 2021.
Federal housing programs, administered nationally through HUD and locally primarily through the Geneva Housing Authority, provide assistance to these households through voucher programs. The authority pays about $370,000 per month – or $4.4 million annually – in vouchers. In some parts of the city, Castle Heights and Historic North, these vouchers are used in 30% of occupied housing. A separate HUD project, Geneva General Housing Development Fund (North Street Apartments), received HUD payments in 2022 totaling $381,496.
The current assessment roll lists 47 properties controlled by the Geneva Housing Authority. The parcels include single-family homes, two-family homes, senior-citizen housing, apartments, vacant land, and playgrounds. The following map shows properties owned by the authority and its affiliates, as listed on the city assessment roll.
