Elizabeth appreciation rates and housing market information

Elizabeth housing market information

With 1,609 people, 758 houses or apartments, and a median cost of homes of $101,055, house prices in Elizabeth are solidly below the national average.

single-family detached homes are the single most common housing type in Elizabeth, accounting for 65.43% of the borough's housing units. Other types of housing that are prevalent in Elizabeth include duplexes, homes converted to apartments, or other small apartment buildings (22.16%), large apartment complexes or high rise apartments (6.33%), and a few row houses and other attached homes (6.07%).

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

The housing in Elizabeth was primarily built before 1939 (60.42%), making the housing stock in Elizabeth some of the older overall in America, although there is a range of ages of homes in Elizabeth. The next most important Elizabeth housing age is 1940-1969 (35.49%), followed by 1970-1994 (3.83%). There's also some housing in Elizabeth built between 1995 and later (.26%).

Vacant housing appears to be an issue in Elizabeth. Fully 10.16% of the housing stock is classified as vacant. Left unchecked, vacant Elizabeth homes and apartments can be a drag on the real estate market, holding Elizabeth 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.

Elizabeth home appreciation rates

Real estate appreciation rates in Elizabeth have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 6.70% during the period.

Appreciation rates are so strong in Elizabeth that despite a nationwide downturn in the housing market, Elizabeth real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Elizabeth appreciation rates continue to be some of the highest in America, at 3.10%, which is higher than appreciation rates in 76% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Elizabeth. Elizabeth appreciation rates in the latest quarter were at 2.01%, which equates to an annual appreciation rate of 8.04%.

Importantly, this makes Elizabeth 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 Elizabeth's latest annual appreciation rate is higher than 75% of the other cities and towns in Pennsylvania.