Bellefonte, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Bellefonte, 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

Bellefonte Housing Market Information

With 6,248 people, 2,698 houses or apartments, and a median cost of homes of $175,957, Bellefonte real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Bellefonte, accounting for 57.08% of the borough's housing units. Other types of housing that are prevalent in Bellefonte include duplexes, homes converted to apartments or other small apartment buildings ( 22.37%), large apartment complexes or high rise apartments ( 11.71%), and a few row houses and other attached homes ( 8.84%).

The most prevalent building size and type in Bellefonte are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 48.19% owning and 51.81% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Bellefonte's housing was primarily built during this period, from the '40s through the '60s. A full 40.40% of the borough's housing hails from this era. Other housing ages represented in Bellefonte include homes built before 1939 ( 35.54%) and housing constructed between 1970-1999 ( 20.45%). There's also some housing in Bellefonte built between 2000 and later ( 3.61%).

Vacant housing appears to be an issue in Bellefonte. Fully 10.72% of the housing stock is classified as vacant. Left unchecked, vacant Bellefonte homes and apartments can be a drag on the real estate market, holding Bellefonte 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.

Bellefonte Home Appreciation Rates

Appreciation rates for homes in Bellefonte have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 12.30%, which ranks in the top 30% nationwide. This equates to an annual average Bellefonte house appreciation rate of 1.17%.

Over the last year, Bellefonte appreciation rates have trailed the rest of the nation. In the last twelve months, Bellefonte's appreciation rate has been -0.55%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Bellefonte were at -0.90%, which equates to an annual appreciation rate of -3.57%.

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

Relative to Pennsylvania, our data show that Bellefonte's latest annual appreciation rate is lower than 80% 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 borough. Individual neighborhoods within Bellefonte differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Bellefonte - 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 Bellefonte real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$175,957

Bellefonte, PA HOME PRICES

Value Range
> $1,066,000 0.0
$800,001 - $1,066,000 0.0
$533,001 - $800,000 0.0
$427,001 - $533,000 1.1
$320,001 - $427,000 4.5
$213,001 - $320,000 21.5
$107,001 - $213,000 62.5
$54,001 - $107,000 7.3
$0 - $54,000 3.1

High for PA
High for Nation

Value Relative to Nation Value Relative to State
39.6197117074886 29.4685990338164

Number Of Homes And Apartments:
2,698

Bellefonte 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
57.60% 2.67% 8 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$889 / per month

Homeownership Rate

Homeownership
Owners 48.19
Renters 51.81
Vacant 10.72

Housing Market Details

 

Age of Homes

AGE OF Bellefonte HOMES
2000 or Newer 3.6
1970 - 1999 20.5
1940 - 1969 40.4
1939 or Older 35.5

Types of Homes

TYPE OF Bellefonte HOMES
Single-Family 57.1
Townhomes 8.8
Small Apt. Buildings 22.4
Apt. Complexes 11.7
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Bellefonte HOMES
No Bedroom 0.50
1 Bedroom 19.85
2 Bedrooms 27.27
3 Bedrooms 37.26
4 Bedrooms 14.33
5 or more bedrooms 0.79