Redwood, NY
Population 342 · New York
About Redwood, NY
Redwood is a small community located in New York with a population of 342 residents according to the latest US Census Bureau American Community Survey data. The median household income is $124,125 per year, which is 65% above the national median of $75,149. The median age of 27.8 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Redwood features a median home value of $172,300, which is 30% below the national median of $244,900. This positions Redwood in a moderately priced market relative to the rest of the country. Median monthly rent is $0, 100% below the national average of $1,163/month. Of the 174 total housing units, 85% are owner-occupied (100 units) and 15% are renter-occupied (17 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Redwood shows an unemployment rate of 3.6%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 16.1%, above the national average of 12.4%. Workers in Redwood have an average one-way commute time of 30.7 minutes.
Education & Demographics
24.2% of Redwood residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 0.0% White, 0.0% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.0% of the population being foreign-born.
Cost of Living in Redwood, NY
Compared to national averages, Redwood has a median household income of $124,125 (65% above the national median of $75,149). Home values average $172,300, which is 30% below the national median. Monthly rent at $0 is 100% below the US average of $1,163. Within New York, Redwood's income is 28% above the state average of $96,987, and home values are 55% below the state median of $387,181.
Why Live in Redwood, NY?
Redwood offers a strong local economy with a median household income of $124,125, well above the national average, and affordable housing with a median home value of $172,300, below the US average of $244,900, and rent that’s lower than the national average at $0/month. Additionally, the city features a strong job market with an unemployment rate of just 3.6%.
Redwood has a population of 342 with a median age of 27.8 years. Compare Redwood with other cities to see how it stacks up, or explore all cities in New York.
Similar Cities Near Redwood
Cities in New York with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Ellicottville | 342 | $88,333 | $277,600 | Compare |
| Groveland Station | 343 | $77,039 | $138,400 | Compare |
| Chautauqua | 340 | $0 | $732,100 | Compare |
| Millport | 340 | $44,038 | $96,800 | Compare |
| Gorham | 345 | $85,893 | $214,100 | Compare |
| Pine Hill | 339 | $84,531 | $316,200 | Compare |
| Gilbertsville | 337 | $71,500 | $151,800 | Compare |
| Prospect | 337 | $46,413 | $104,400 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in New York
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Redwood
What is the population of Redwood, NY?
The population of Redwood, NY is 342 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in New York.
What is the median household income in Redwood?
The median household income in Redwood, NY is $124,125 per year, which is 65% above the national median of $75,149.
What is the median home value in Redwood?
The median home value in Redwood, NY is $172,300, which is 30% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Redwood?
The median monthly rent in Redwood, NY is $0, which is 100% below the national average of $1,163/month.
What is the unemployment rate in Redwood?
The unemployment rate in Redwood, NY is 3.6%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Redwood, NY a good place to live?
Redwood offers above-average incomes, affordable housing, and a strong job market. With a population of 342 and a median age of 27.8, the city appeals to young professionals and families.
How educated is Redwood, NY?
24.2% of residents in Redwood aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Redwood?
Key cost-of-living indicators for Redwood, NY: median home value is $172,300 (30% below national), median rent is $0/month, and median household income is $124,125. The home-value-to-income ratio is 1.4x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Redwood?
The poverty rate in Redwood, NY is 16.1%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Redwood, NY?
Redwood's population is 0.0% White, 0.0% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 0.0% of residents are foreign-born.