Canonsburg, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Canonsburg, 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

Canonsburg Housing Market Information

With 8,922 people, 4,143 houses or apartments, and a median cost of homes of $150,300, Canonsburg real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Canonsburg, accounting for 64.17% of the borough's housing units. Other types of housing that are prevalent in Canonsburg include large apartment complexes or high rise apartments ( 19.92%), duplexes, homes converted to apartments or other small apartment buildings ( 12.19%), and a few row houses and other attached homes ( 3.29%).

The most prevalent building size and type in Canonsburg are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 56.35% owning and 43.65% 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. Canonsburg's housing was primarily built during this period, from the '40s through the '60s. A full 34.93% of the borough's housing hails from this era. Other housing ages represented in Canonsburg include homes built before 1939 ( 34.36%) and housing constructed between 1970-1999 ( 16.65%). There's also some housing in Canonsburg built between 2000 and later ( 14.06%).

Vacant housing appears to be an issue in Canonsburg. Fully 12.02% of the housing stock is classified as vacant. Left unchecked, vacant Canonsburg homes and apartments can be a drag on the real estate market, holding Canonsburg 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.

Canonsburg Home Appreciation Rates

Appreciation rates for homes in Canonsburg have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 12.33%, which ranks in the top 30% nationwide. This equates to an annual average Canonsburg house appreciation rate of 1.17%.

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 0.31%, 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 -0.41%, which equates to an annual appreciation rate of -1.65%.

Relative to Pennsylvania, our data show that Canonsburg'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 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:
$150,300

Canonsburg, PA HOME PRICES

Value Range
> $1,077,000 0.5
$808,001 - $1,077,000 0.0
$539,001 - $808,000 0.0
$431,001 - $539,000 0.0
$323,001 - $431,000 2.2
$215,001 - $323,000 14.9
$108,001 - $215,000 51.0
$54,001 - $108,000 26.9
$0 - $54,000 4.5

Average for PA
Average for Nation

Value Relative to Nation Value Relative to State
49.894527129966 44.5410628019324

Number Of Homes And Apartments:
4,143

Canonsburg 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
39.79% 1.96% 4 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$935 / per month

Homeownership Rate

Homeownership
Owners 56.35
Renters 43.65
Vacant 12.02

Housing Market Details

 

Age of Homes

AGE OF Canonsburg HOMES
2000 or Newer 14.1
1970 - 1999 16.6
1940 - 1969 34.9
1939 or Older 34.4

Types of Homes

TYPE OF Canonsburg HOMES
Single-Family 64.2
Townhomes 3.3
Small Apt. Buildings 12.2
Apt. Complexes 19.9
Mobile Homes 0.4
Other 0.0

Home Size

SIZE OF Canonsburg HOMES
No Bedroom 0.32
1 Bedroom 12.85
2 Bedrooms 34.15
3 Bedrooms 37.18
4 Bedrooms 13.04
5 or more bedrooms 2.46