Freeville, NY

  • Overview
  • Performance
  • Listings
  • Buy Box

Key Performance Metrics

Market snapshot

Performance indicators for the Freeville short-term rental market based on reliable data.

Listings

9 / 17

Reliable / Active

Cap Rate

9%

Middle-Earners Gross Yield

Revenue

$27,647

Middle-Earners Revenue

Occupancy

54%

Middle-Earners Occupancy

Home Value

$297,444

Median Home Sale Price

Top Earners

$62,775

Top-Earners Revenue

Freeville

Market Revenue Seasonality

Top Listings

Highest revenue

The highest-performing listings in Freeville.

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C

Challenging to Investors

Freeville Regulations

Allowed in most zones, but a zoning permit plus mandatory site plan review and planning board approval create a multi-step, costly process; strict parking, dimensional and sign rules (including no advertising signs in residential areas) add operational burden, and the unknown enforcement stance raises investor risk.

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About Freeville

Freeville is a small village in Tompkins County, New York, tucked into the rolling countryside of the Finger Lakes region in central New York State. With a population of roughly five hundred residents, the village has a quiet, rural character defined by farmland, wooded hills, and easy access to the natural and cultural amenities of the surrounding area. Freeville is best known as a peaceful residential community within commuting distance of Ithaca, the largest nearby city and home to Cornell University. The village sits approximately seven miles east of downtown Ithaca, with a typical drive taking about ten to fifteen minutes, and about forty-five minutes north of the larger city of Elmira. It serves as a convenient base for visitors exploring the Finger Lakes, Cornell's campus, and the many state parks and gorges that dot the region.

Just a short drive northwest of Freeville, Taughannock Falls State Park offers one of the most dramatic natural attractions in the Finger Lakes. The park is home to Taughannock Falls, a 215-foot waterfall that drops into a deep gorge, making it taller than Niagara Falls. Visitors can hike along the rim trail, walk the gorge trail to the base of the falls, or enjoy the swimming beach on the shore of Cayuga Lake. The park is about a twenty-minute drive from Freeville and is one of the marquee outdoor destinations in the region.

South of the village, the city of Ithaca itself offers a lively downtown with restaurants, shops, and the scenic Ithaca Commons pedestrian area, all framed by views of Cayuga Lake and the surrounding hills. The drive into town takes about ten to fifteen minutes. From the Commons, visitors can easily access the campus of Cornell University, with its notable architecture, the Herbert F. Johnson Museum of Art, and the Cornell Botanic Gardens, which showcase an extensive collection of native and cultivated plants.

A short drive southwest of Freeville, Buttermilk Falls State Park is a popular spot for hiking, picnicking, and swimming. The park follows Buttermilk Creek as it cascades through a series of gorges and pools, with a main waterfall dropping nearly 200 feet. The park is roughly twenty minutes from the village and pairs well with visits to nearby Robert H. Treman State Park, which features the striking Lucifer Falls and additional gorge trails.

Freeville appeals to short-term rental owners because of its uncommon combination of small-village quiet and proximity to one of upstate New York's most dynamic destinations. Guests can retreat to a rural setting after days spent hiking gorges, touring vineyards along the Cayuga Lake Wine Trail, visiting Cornell, or enjoying Ithaca's restaurants and cultural scene. The village's central Tompkins County location makes it an ideal, lower-key alternative to staying in Ithaca itself while keeping the region's top attractions well within reach.

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