Canonsburg, PA Real Estate Market

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 Q3 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Canonsburg, PA Housing Market Trends

With a population of 9,744, 3,908 total housing units (homes and apartments), and a median house value of $177,771, house prices in Canonsburg are solidly below the national average.

Single-family detached homes are the single most common housing type in Canonsburg, accounting for 63.35% of the borough's housing units. Other types of housing that are prevalent in Canonsburg include large apartment complexes or high rise apartments ( 16.67%), duplexes, homes converted to apartments or other small apartment buildings ( 16.06%), and a few row houses and other attached homes ( 3.48%).

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

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. Canonsburg's housing was primarily built during this period, from the '40s through the '60s. A full 37.84% of the borough's housing hails from this era. Other housing ages represented in Canonsburg include homes built before 1939 ( 32.64%) and housing constructed between 1970-1999 ( 19.10%). There's also some housing in Canonsburg built between 2000 and later ( 10.42%).

Canonsburg Home Appreciation Rates

Canonsburg's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Canonsburg during the period has been just 2.96%, which is lower than 70% of US communities.

Over the last year, Canonsburg appreciation rates have trailed the rest of the nation. In the last twelve months, Canonsburg's appreciation rate has been 11.03%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Canonsburg were at 4.70%, which equates to an annual appreciation rate of 20.18%.

Relative to Pennsylvania, our data show that Canonsburg's latest annual appreciation rate is lower than 60% 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 Canonsburg differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Canonsburg - 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 Canonsburg real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$177,771

Canonsburg, PA HOME PRICES

> $1,216,000
0.7%
0.7%
$912,001 - $1,216,000
0.0%
0.0%
$608,001 - $912,000
0.0%
0.0%
$486,001 - $608,000
0.0%
0.0%
$365,001 - $486,000
2.4%
2.4%
$243,001 - $365,000
19.6%
19.6%
$122,001 - $243,000
45.0%
45.0%
$61,001 - $122,000
29.8%
29.8%
$0 - $61,000
2.5%
2.5%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

Average for PA

Value Relative To Nation

Number Of Homes And Apartments:
3,908

Canonsburg Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
PA*
Compared To
America*
Latest Quarter:
2021 Q2 - 2021 Q3
Last 12 Months:
2020 Q3 - 2021 Q3
Last 2 Years:
2019 Q3 - 2021 Q3
Last 5 Years:
2016 Q3 - 2021 Q3
Last 10 Years:
2011 Q3 - 2021 Q3
Since 2000:
2000 Q1 - 2021 Q3
73.99% 2.58%
3
4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,123 / per month

Homeownership Rate

Owners
56.3%
56.3%
Renters
43.7%
43.7%
Vacant
9.3%
9.3%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
10.4%
10.4%
1970 - 1999
19.1%
19.1%
1940 - 1969
37.8%
37.8%
1939 or Older
32.6%
32.6%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
63.3%
63.3%
Townhomes
3.5%
3.5%
Small Apt. Buildings
16.1%
16.1%
Apt. Complexes
16.7%
16.7%
Mobile Homes
0.4%
0.4%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.0%
0.0%
1 Bedroom
16.1%
16.1%
2 Bedrooms
37.2%
37.2%
3 Bedrooms
31.2%
31.2%
4 Bedrooms
12.9%
12.9%
5 or more bedrooms
2.6%
2.6%
0.0% 100.0%
% OF HOMES