Belle Vernon, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Belle Vernon Neighborhoods Since 2000




Belle Vernon, 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

Belle Vernon Housing Market Information

With a population of 1,073, 543 total housing units (homes and apartments), and a median house value of $90,163, house prices in Belle Vernon 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 Belle Vernon, accounting for 42.68% of the borough's housing units. Other types of housing that are prevalent in Belle Vernon include large apartment complexes or high rise apartments ( 32.40%), duplexes, homes converted to apartments or other small apartment buildings ( 15.11%), and a few row houses and other attached homes ( 5.92%).

People in Belle Vernon primarily live in small (one, two or no bedroom) single-family detached homes. Belle Vernon has a mixture of owner-occupied and renter-occupied housing.

The housing in Belle Vernon was primarily built before 1939 ( 39.10%), making the housing stock in Belle Vernon some of the oldest overall in America, although there is a range of ages of homes in Belle Vernon. The next most important housing age is between 1970-1999 ( 36.76%), followed by between 1940-1969 ( 18.22%). There's also some housing in Belle Vernon built between 2000 and later ( 5.92%).

Vacant housing appears to be an issue in Belle Vernon. Fully 15.42% of the housing stock is classified as vacant. Left unchecked, vacant Belle Vernon homes and apartments can be a drag on the real estate market, holding Belle Vernon 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.

Belle Vernon Home Appreciation Rates

Appreciation rates for homes in Belle Vernon have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 0.62%, which ranks in the top 50% nationwide. This equates to an annual average Belle Vernon house appreciation rate of 0.06%.

Over the last year, Belle Vernon appreciation rates have trailed the rest of the nation. In the last twelve months, Belle Vernon's appreciation rate has been -1.49%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Belle Vernon were at -0.41%, which equates to an annual appreciation rate of -1.65%.

Relative to Pennsylvania, our data show that Belle Vernon's latest annual appreciation rate is lower than 80% of the other cities and towns in Pennsylvania.

Average Home Values

 

Median Home Value:
$90,163

Belle Vernon, PA HOME PRICES

Value Range
> $1,041,000 0.0
$780,001 - $1,041,000 0.0
$520,001 - $780,000 0.0
$417,001 - $520,000 0.2
$312,001 - $417,000 0.0
$208,001 - $312,000 2.8
$104,001 - $208,000 30.7
$52,001 - $104,000 46.3
$0 - $52,000 20.0

Very Low for PA
Very Low for Nation

Value Relative to Nation Value Relative to State
83.8040548458924 82.4154589371981

Number Of Homes And Apartments:
543

Belle Vernon 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
22.10% 1.16% 1 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$836 / per month

Homeownership Rate

Homeownership
Owners 39.78
Renters 60.22
Vacant 15.42

Housing Market Details

 

Age of Homes

AGE OF Belle Vernon HOMES
2000 or Newer 5.9
1970 - 1999 36.8
1940 - 1969 18.2
1939 or Older 39.1

Types of Homes

TYPE OF Belle Vernon HOMES
Single-Family 42.7
Townhomes 5.9
Small Apt. Buildings 15.1
Apt. Complexes 32.4
Mobile Homes 3.9
Other 0.0

Home Size

SIZE OF Belle Vernon HOMES
No Bedroom 1.87
1 Bedroom 35.51
2 Bedrooms 28.82
3 Bedrooms 21.96
4 Bedrooms 8.57
5 or more bedrooms 3.27