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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 10,270 people, 4,557 houses or apartments, and a median cost of homes of $187,936, house prices in Berwick are solidly below the national average.
Single-family detached homes are the single most common housing type in Berwick, accounting for 60.45% of the borough's housing units. Other types of housing that are prevalent in Berwick include duplexes, homes converted to apartments or other small apartment buildings ( 19.21%), row houses and other attached homes ( 9.70%), and a few large apartment complexes or high rise apartments ( 7.76%).
The most prevalent building size and type in Berwick are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 61.33% owning and 38.67% renting.
The housing in Berwick was primarily built before 1939 ( 36.65%), making the housing stock in Berwick some of the oldest overall in America, although there is a range of ages of homes in Berwick. The next most important housing age is between 1970-1999 ( 33.22%), followed by between 1940-1969 ( 26.96%). There's also some housing in Berwick built between 2000 and later ( 3.17%).
Real estate appreciation rates in Berwick's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.39% during the period.
Appreciation rates are so strong in Berwick that despite a nationwide downturn in the housing market, Berwick real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Berwick appreciation rates continue to be some of the highest in America, at 8.36%, which is higher than appreciation rates in 88.40% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Berwick. Berwick appreciation rates in the latest quarter were at 4.44%, which equates to an annual appreciation rate of 18.98%.
Importantly, this makes Berwick one of the highest appreciating communities in the nation for the latest quarter, and may signal the borough's near-future real estate investment strength.
Relative to Pennsylvania, our data show that Berwick's latest annual appreciation rate is higher than 80% of the other cities and towns in Pennsylvania.
$187,936
for Pennsylvania
for nation
4,557
$1,126 / per month