Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 1,622, 649 total housing units (homes and apartments), and a median house value of $405,887, real estate costs in Penn Valley are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive California communities.
Single-family detached homes are the single most common housing type in Penn Valley, accounting for 63.46% of the town's housing units. Other types of housing that are prevalent in Penn Valley include mobile homes or trailers ( 23.21%), row houses and other attached homes ( 7.97%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.36%).
Dwellings in Penn Valley tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 52.06% of the homes in Penn Valley have two or fewer bedrooms.
There is a lot of housing in Penn Valley 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 Penn Valley built between 1940-1969 ( 30.49%). A lesser amount of the housing stock also hails from between 2000 and later ( 2.75%). There's also some housing in Penn Valley built before 1939 ( 2.47%).
Vacant housing appears to be an issue in Penn Valley. Fully 10.85% of the housing stock is classified as vacant. Left unchecked, vacant Penn Valley homes and apartments can be a drag on the real estate market, holding Penn Valley 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.
Penn Valley's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Penn Valley during the period has been just -1.59%, which is lower than 80% of US communities.
Appreciation rates are so strong in Penn Valley that despite a nationwide downturn in the housing market, Penn Valley real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Penn Valley appreciation rates continue to be some of the highest in America, at 7.79%, which is higher than appreciation rates in 85.65% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Penn Valley. Penn Valley appreciation rates in the latest quarter were at 1.82%, which equates to an annual appreciation rate of 7.47%.
Importantly, this makes Penn Valley one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to California, our data show that Penn Valley's latest annual appreciation rate is higher than 50% of the other cities and towns in California.
|$971,001 - $1,295,000||1.3|
|$648,001 - $971,000||10.3|
|$518,001 - $648,000||19.1|
|$389,001 - $518,000||20.8|
|$259,001 - $389,000||30.6|
|$130,001 - $259,000||11.1|
|$65,001 - $130,000||0.9|
|$0 - $65,000||5.9|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Penn Valley HOMES|
|2000 or Newer||2.7|
|1970 - 1999||64.3|
|1940 - 1969||30.5|
|1939 or Older||2.5|
|TYPE OF Penn Valley HOMES|
|Small Apt. Buildings||5.4|
|SIZE OF Penn Valley HOMES|
|5 or more bedrooms||2.61|