Harpers Ferry appreciation rates and housing market information

Harpers Ferry housing market information

With a population of 10,941, 4,803 total housing units (homes and apartments), and a median house value of $281,923, Harpers Ferry real estate prices are well above average cost compared to national prices.

single-family detached homes are the single most common housing type in Harpers Ferry, accounting for 82.95% of the town's housing units. Other types of housing that are prevalent in Harpers Ferry include mobile homes or trailers (10.33%), row houses and other attached homes (2.87%), duplexes, homes converted to apartments, or other small apartment buildings (2.00%), and a few large apartment complexes or high rise apartments (1.67%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Harpers Ferry. Owner-occupied housing accounts for 73.12% of Harpers Ferry's homes, and 61.59% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Harpers Ferry built from 1970-1994, 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 Harpers Ferry built from 1940-1969 (21.22%). A lesser amount of the housing stock also hails from 1939 and earlier (12.86%), and some were built from 1995 and later (12.86%).

Vacant housing appears to be an issue in Harpers Ferry. Fully 12.12% of the housing stock is classified as vacant. Left unchecked, vacant Harpers Ferry homes and apartments can be a drag on the real estate market, holding Harpers Ferry 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.

Harpers Ferry home appreciation rates

In the last 10 years, Harpers Ferry has experienced some of the highest home appreciation rates of any community in the nation. Harpers Ferry real estate appreciated 151.33% over the last ten years, which is an average annual home appreciation rate of 15.13%, putting Harpers Ferry in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Harpers Ferry definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Harpers Ferry appreciation rates have trailed the rest of the nation. In the last twelve months, Harpers Ferry's appreciation rate has been -6.59%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Harpers Ferry were at 0.37%, which equates to an annual appreciation rate of 1.48%.

Relative to West Virginia, our data show that Harpers Ferry's latest annual appreciation rate is higher than 5% of the other cities and towns in West Virginia.