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 about Scout's Real Estate Data
With a population of 1,504, 583 total housing units (homes and apartments), and a median house value of $168,600, house prices in Albion are solidly below the national average.
Single-family detached homes are the single most common housing type in Albion, accounting for 68.20% of the borough's housing units. Other types of housing that are prevalent in Albion include large apartment complexes or high rise apartments ( 14.15%), duplexes, homes converted to apartments or other small apartment buildings ( 7.95%), and a few mobile homes or trailers ( 7.15%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Albion. Owner-occupied housing accounts for 69.28% of Albion's homes, and 64.71% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Albion 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 Albion built before 1939 ( 33.86%). A lesser amount of the housing stock also hails from between 1940-1969 ( 19.40%). There's also some housing in Albion built between 2000 and later ( 3.97%).
Albion's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Albion during the period has been just 4.69%, which is lower than 80% of US communities.
Appreciation rates are so strong in Albion that despite a nationwide downturn in the housing market, Albion real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Albion appreciation rates continue to be some of the highest in America, at 8.69%, which is higher than appreciation rates in 90.63% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Albion. Albion appreciation rates in the latest quarter were at 0.64%, which equates to an annual appreciation rate of 2.60%.
Relative to Pennsylvania, our data show that Albion's latest annual appreciation rate is higher than 90% of the other cities and towns in Pennsylvania.
$168,600
for Pennsylvania
for nation
583
$784 / per month