Albion, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Albion Neighborhoods Since 2000




Albion, PA Real Estate Data

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Albion Housing Market Information

With a population of 1,468, 652 total housing units (homes and apartments), and a median house value of $92,182, house prices in Albion are some of the most affordable in Pennsylvania as well as the nation.

Single-family detached homes are the single most common housing type in Albion, accounting for 67.55% of the borough's housing units. Other types of housing that are prevalent in Albion include large apartment complexes or high rise apartments ( 11.61%), duplexes, homes converted to apartments or other small apartment buildings ( 10.63%), and a few mobile homes or trailers ( 7.97%).

The most prevalent building size and type in Albion are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 60.97% owning and 39.03% renting.

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 ( 35.80%). A lesser amount of the housing stock also hails from between 1940-1969 ( 24.20%). There's also some housing in Albion built between 2000 and later ( 3.78%).

Albion Home Appreciation Rates

Appreciation rates for homes in Albion have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 2.27%, which ranks in the top 50% nationwide. This equates to an annual average Albion house appreciation rate of 0.22%.

Over the last year, Albion appreciation rates have trailed the rest of the nation. In the last twelve months, Albion's appreciation rate has been -2.11%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Albion were at -3.90%, which equates to an annual appreciation rate of -14.73%.

Notably, Albion's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Pennsylvania, our data show that Albion's latest annual appreciation rate is lower than 90% of the other cities and towns in Pennsylvania.

Average Home Values

 

Median Home Value:
$92,182

Albion, PA HOME PRICES

Value Range
> $1,012,000 0.0
$759,001 - $1,012,000 0.0
$506,001 - $759,000 1.0
$405,001 - $506,000 0.0
$304,001 - $405,000 0.8
$203,001 - $304,000 2.5
$101,001 - $203,000 34.3
$51,001 - $101,000 51.9
$0 - $51,000 9.6

Very Low for PA
Very Low for Nation

Value Relative to Nation Value Relative to State
82.57939763272 80.9661835748792

Number Of Homes And Apartments:
652

Albion Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
PA*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2017 Q1
24.51% 1.28% 2 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$578 / per month

Homeownership Rate

Homeownership
Owners 60.97
Renters 39.03
Vacant 8.81

Housing Market Details

 

Age of Homes

AGE OF Albion HOMES
2000 or Newer 3.8
1970 - 1999 36.2
1940 - 1969 24.2
1939 or Older 35.8

Types of Homes

TYPE OF Albion HOMES
Single-Family 67.6
Townhomes 2.2
Small Apt. Buildings 10.6
Apt. Complexes 11.6
Mobile Homes 8.0
Other 0.0

Home Size

SIZE OF Albion HOMES
No Bedroom 0.28
1 Bedroom 13.43
2 Bedrooms 24.20
3 Bedrooms 44.48
4 Bedrooms 14.55
5 or more bedrooms 3.08