Slippery Rock appreciation rates and housing market information
Slippery Rock housing market information
With a population of 3,645, 1,241 total housing units (homes and apartments), and a median house value of $107,803, house prices in Slippery Rock are solidly below the national average.
Single-family detached homes are the single most common housing type in Slippery Rock, accounting for 41.89% of the borough's housing units. Other types of housing that are prevalent in Slippery Rock include large apartment complexes or high rise apartments (27.77%), duplexes, homes converted to apartments or other small apartment buildings (19.21%), and a few row houses and other attached homes (11.13%).
The most prevalent building size and type in Slippery Rock are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 37.25% owning and 62.75% renting.
There is a lot of housing in Slippery Rock built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Slippery Rock built between 1940-1969 (28.45%). A lesser amount of the housing stock also hails from before 1939 (17.31%). There's also some housing in Slippery Rock built between 2000 and later (17.24%).
Vacant housing appears to be an issue in Slippery Rock. Fully 18.40% of the housing stock is classified as vacant. Left unchecked, vacant Slippery Rock homes and apartments can be a drag on the real estate market, holding Slippery Rock 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.
Slippery Rock home appreciation rates
In the last 10 years, Slippery Rock has experienced some of the highest home appreciation rates of any community in the nation. Slippery Rock real estate appreciated 36.65% over the last ten years, which is an average annual home appreciation rate of 3.17%, putting Slippery Rock in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Slippery Rock 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 Slippery Rock that despite a nationwide downturn in the housing market, Slippery Rock real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Slippery Rock appreciation rates continue to be some of the highest in America, at 4.38%, which is higher than appreciation rates in 70.12% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Slippery Rock. Slippery Rock appreciation rates in the latest quarter were at 0.14%, which equates to an annual appreciation rate of 0.55%.
Relative to Pennsylvania, our data show that Slippery Rock's latest annual appreciation rate is higher than 90% of the other cities and towns in Pennsylvania.