Berwick, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Berwick, 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

Berwick Housing Market Information

With 10,223 people, 4,112 houses or apartments, and a median cost of homes of $101,633, 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 59.34% 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 ( 21.58%), row houses and other attached homes ( 9.26%), and a few large apartment complexes or high rise apartments ( 5.64%).

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 57.58% owning and 42.42% renting.

The housing in Berwick was primarily built before 1939 ( 48.64%), 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 1940-1969 ( 33.61%), followed by between 1970-1999 ( 15.24%). There's also some housing in Berwick built between 2000 and later ( 2.51%).

Vacant housing appears to be an issue in Berwick. Fully 12.47% of the housing stock is classified as vacant. Left unchecked, vacant Berwick homes and apartments can be a drag on the real estate market, holding Berwick 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.

Berwick Home Appreciation Rates

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 -0.07% during the period.

Over the last year, Berwick appreciation rates have trailed the rest of the nation. In the last twelve months, Berwick's appreciation rate has been -0.80%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Berwick were at 1.70%, which equates to an annual appreciation rate of 6.98%.

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 lower than 80% of the other cities and towns in Pennsylvania.

Average Home Values

 

Median Home Value:
$101,633

Berwick, PA HOME PRICES

Value Range
> $1,006,000 0.0
$755,001 - $1,006,000 0.0
$503,001 - $755,000 1.9
$402,001 - $503,000 0.0
$302,001 - $402,000 2.1
$201,001 - $302,000 3.2
$100,001 - $201,000 39.6
$50,001 - $100,000 46.2
$0 - $50,000 7.1

Low for PA
Low for Nation

Value Relative to Nation Value Relative to State
76.5322864174382 75.1690821256039

Number Of Homes And Apartments:
4,112

Berwick 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
30.68% 1.56% 2 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$996 / per month

Homeownership Rate

Homeownership
Owners 57.58
Renters 42.42
Vacant 12.47

Housing Market Details

 

Age of Homes

AGE OF Berwick HOMES
2000 or Newer 2.5
1970 - 1999 15.2
1940 - 1969 33.6
1939 or Older 48.6

Types of Homes

TYPE OF Berwick HOMES
Single-Family 59.3
Townhomes 9.3
Small Apt. Buildings 21.6
Apt. Complexes 5.6
Mobile Homes 4.2
Other 0.0

Home Size

SIZE OF Berwick HOMES
No Bedroom 0.21
1 Bedroom 11.15
2 Bedrooms 30.74
3 Bedrooms 42.85
4 Bedrooms 11.28
5 or more bedrooms 3.77