Charleroi appreciation rates and housing market information

Charleroi housing market information

With a population of 4,871, 2,624 total housing units (homes and apartments), and a median house value of $71,834, house prices in Charleroi are some of the most affordable in Pennsylvania as well as the nation.

single-family detached homes are the single most common housing type in Charleroi, accounting for 57.89% of the borough's housing units. Other types of housing that are prevalent in Charleroi include duplexes, homes converted to apartments, or other small apartment buildings (27.17%), large apartment complexes or high rise apartments (11.32%), row houses and other attached homes (3.12%), and a few mobile homes or trailers (0.50%).

People in Charleroi primarily live in small (one, two, or no bedroom) single-family detached homes. Charleroi has a mixture of owner-occupied and renter-occupied housing.

The housing in Charleroi was primarily built before 1939 (60.49%), making the housing stock in Charleroi some of the older overall in America, although there is a range of ages of homes in Charleroi. The next most important Charleroi housing age is 1940-1969 (32.96%), followed by 1970-1994 (5.56%). There's also some housing in Charleroi built between 1995 and later (.99%).

Vacant housing appears to be an issue in Charleroi. Fully 13.99% of the housing stock is classified as vacant. Left unchecked, vacant Charleroi homes and apartments can be a drag on the real estate market, holding Charleroi real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Charleroi home appreciation rates

Real estate appreciation rates in Charleroi have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 6.61% during the period.

Appreciation rates are so strong in Charleroi that despite a nationwide downturn in the housing market, Charleroi real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Charleroi appreciation rates continue to be some of the highest in America, at 3.01%, which is higher than appreciation rates in 75% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Charleroi. Charleroi appreciation rates in the latest quarter were at 1.99%, which equates to an annual appreciation rate of 7.96%.

Importantly, this makes Charleroi one of the highest appreciating communities in the nation for the latest quarter, and may signal the borough's near-future real estate investment strength.

Relative to Pennsylvania, our data show that Charleroi's latest annual appreciation rate is higher than 73% of the other cities and towns in Pennsylvania.

One very important thing to keep in mind is that these are average appreciation rates for the borough. Individual neighborhoods within Charleroi differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Charleroi - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Charleroi real estate investment or home purchase decisions.