Allentown, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Allentown Neighborhoods Since 2000




Allentown, 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

Allentown Housing Market Information

With 120,207 people, 41,244 houses or apartments, and a median cost of homes of $126,740, house prices in Allentown are solidly below the national average.

Row houses and other attached homes are the single most common housing type in Allentown, accounting for 38.42% of the city's housing units. Other types of housing that are prevalent in Allentown include single-family detached homes ( 22.10%), duplexes, homes converted to apartments or other small apartment buildings ( 19.68%), and a few large apartment complexes or high rise apartments ( 19.51%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.

The most prevalent building size and type in Allentown are three and four bedroom dwellings, chiefly found in row houses and other attached homes. The city has a mixture of owners and renters, with 44.06% owning and 55.94% renting.

The housing in Allentown was primarily built before 1939 ( 39.10%), making the housing stock in Allentown some of the oldest overall in America, although there is a range of ages of homes in Allentown. The next most important housing age is between 1940-1969 ( 35.16%), followed by between 1970-1999 ( 20.46%). There's also some housing in Allentown built between 2000 and later ( 5.28%).

Vacant housing appears to be an issue in Allentown. Fully 10.39% of the housing stock is classified as vacant. Left unchecked, vacant Allentown homes and apartments can be a drag on the real estate market, holding Allentown 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.

Allentown Home Appreciation Rates

Homes have actually lost value in Allentown over the last then years, as home values have seen a decline of 20.63% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Allentown home appreciation rates at 0.88%, which equates to an annual appreciation rate of 3.57%.

Appreciation rates are so strong in Allentown that despite a nationwide downturn in the housing market, Allentown real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Allentown appreciation rates continue to be some of the highest in America, at 6.81%, which is higher than appreciation rates in 80.05% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Allentown. Allentown appreciation rates in the latest quarter were at 0.88%, which equates to an annual appreciation rate of 3.57%.

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

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Allentown differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Allentown - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Allentown real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$126,740

Allentown, PA HOME PRICES

Value Range
> $1,061,000 0.4
$796,001 - $1,061,000 0.1
$531,001 - $796,000 0.5
$424,001 - $531,000 0.4
$318,001 - $424,000 2.3
$212,001 - $318,000 6.7
$106,001 - $212,000 48.3
$53,001 - $106,000 35.5
$0 - $53,000 5.8

Average for PA
Low for Nation

Value Relative to Nation Value Relative to State
61.5668580803938 57.9710144927536

Number Of Homes And Apartments:
41,244

Allentown 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
40.05% 1.97% 4 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,106 / per month

Homeownership Rate

Homeownership
Owners 44.06
Renters 55.94
Vacant 10.39

Housing Market Details

 

Age of Homes

AGE OF Allentown HOMES
2000 or Newer 5.3
1970 - 1999 20.5
1940 - 1969 35.2
1939 or Older 39.1

Types of Homes

TYPE OF Allentown HOMES
Single-Family 22.1
Townhomes 38.4
Small Apt. Buildings 19.7
Apt. Complexes 19.5
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF Allentown HOMES
No Bedroom 1.94
1 Bedroom 19.66
2 Bedrooms 23.58
3 Bedrooms 36.84
4 Bedrooms 10.79
5 or more bedrooms 7.20