Ellwood City appreciation rates and housing market information

Ellwood City housing market information

With a population of 8,671, 3,994 total housing units (homes and apartments), and a median house value of $145,005, Ellwood City real estate and house prices are near the national average for all cities and towns.

single-family detached homes are the single most common housing type in Ellwood City, accounting for 69.80% of the borough's housing units. Other types of housing that are prevalent in Ellwood City include duplexes, homes converted to apartments, or other small apartment buildings (18.45%), large apartment complexes or high rise apartments (8.09%), and a few row houses and other attached homes (3.46%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Ellwood City. Owner-occupied housing accounts for 63.24% of Ellwood City's homes, and 50.15% have either three or four bedrooms, which is average sized relative to America.

The housing in Ellwood City was primarily built before 1939 (48.85%), making the housing stock in Ellwood City some of the older overall in America, although there is a range of ages of homes in Ellwood City. The next most important Ellwood City housing age is 1940-1969 (41.46%), followed by 1970-1994 (7.76%). There's also some housing in Ellwood City built between 1995 and later (1.93%).

Ellwood City home appreciation rates

In the last 10 years, Ellwood City has experienced some of the highest home appreciation rates of any community in the nation. Ellwood City real estate appreciated 133.31% over the last ten years, which is an average annual home appreciation rate of 13.33%, putting Ellwood City in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Ellwood City definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Ellwood City that despite a nationwide downturn in the housing market, Ellwood City real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Ellwood City appreciation rates continue to be some of the highest in America, at 5.87%, which is higher than appreciation rates in 93% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Ellwood City. Ellwood City appreciation rates in the latest quarter were at 1.72%, which equates to an annual appreciation rate of 6.88%.

Importantly, this makes Ellwood City 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 Ellwood City's latest annual appreciation rate is higher than 98% 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 Ellwood City differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Ellwood City - 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 Ellwood City real estate investment or home purchase decisions.