Bellevue, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Bellevue, PA Real Estate Data


Bellevue Housing Market Information

With a population of 8,252, 4,143 total housing units (homes and apartments), and a median house value of $123,292, house prices in Bellevue are solidly below the national average.

Single-family detached homes are the single most common housing type in Bellevue, accounting for 35.71% of the borough's housing units. Other types of housing that are prevalent in Bellevue include large apartment complexes or high rise apartments ( 33.10%), duplexes, homes converted to apartments or other small apartment buildings ( 22.74%), and a few row houses and other attached homes ( 8.31%).

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

The housing in Bellevue was primarily built before 1939 ( 50.72%), making the housing stock in Bellevue some of the oldest overall in America, although there is a range of ages of homes in Bellevue. The next most important housing age is between 1940-1969 ( 36.72%), followed by between 1970-1999 ( 10.07%). There's also some housing in Bellevue built between 2000 and later ( 2.49%).

Vacant housing appears to be an issue in Bellevue. Fully 14.19% of the housing stock is classified as vacant. Left unchecked, vacant Bellevue homes and apartments can be a drag on the real estate market, holding Bellevue 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.

Bellevue Home Appreciation Rates

In the last 10 years, Bellevue has experienced some of the highest home appreciation rates of any community in the nation. Bellevue real estate appreciated 21.07% over the last ten years, which is an average annual home appreciation rate of 1.93%, putting Bellevue in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Bellevue definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Bellevue appreciation rates have trailed the rest of the nation. In the last twelve months, Bellevue's appreciation rate has been 3.78%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Bellevue were at 2.53%, which equates to an annual appreciation rate of 10.50%.

Relative to Pennsylvania, our data show that Bellevue's latest annual appreciation rate is lower than 60% of the other cities and towns in Pennsylvania.

Average Home Values

 

Median Home Value:
$123,292

Bellevue, PA HOME PRICES

Value Range
> $1,159,000 0.0
$869,001 - $1,159,000 0.0
$580,001 - $869,000 0.0
$464,001 - $580,000 0.0
$348,001 - $464,000 0.7
$231,001 - $348,000 3.2
$116,001 - $231,000 50.8
$58,001 - $116,000 38.8
$0 - $58,000 6.5

Low for PA
Low for Nation

Value Relative to Nation Value Relative to State
64.425835919658 62.4154589371981

Number Of Homes And Apartments:
4,143

Rent & Ownership

 

Average Market Rent:
$802 / per month

Homeownership Rate

Homeownership
Owners 35.77
Renters 64.23
Vacant 14.19

Housing Market Details

 

Age of Homes

AGE OF Bellevue HOMES
2000 or Newer 2.5
1970 - 1999 10.1
1940 - 1969 36.7
1939 or Older 50.7

Types of Homes

TYPE OF Bellevue HOMES
Single-Family 35.7
Townhomes 8.3
Small Apt. Buildings 22.7
Apt. Complexes 33.1
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Bellevue HOMES
No Bedroom 3.91
1 Bedroom 26.88
2 Bedrooms 33.95
3 Bedrooms 19.53
4 Bedrooms 10.34
5 or more bedrooms 5.39

Bellevue Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
PA*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
49.90% 2.41% 6 6
* 10 is highest