Castle Shannon, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Castle Shannon, PA Real Estate Data


Castle Shannon Housing Market Information

With a population of 8,235, 3,882 total housing units (homes and apartments), and a median house value of $126,852, house prices in Castle Shannon are solidly below the national average.

Single-family detached homes are the single most common housing type in Castle Shannon, accounting for 57.21% of the borough's housing units. Other types of housing that are prevalent in Castle Shannon include large apartment complexes or high rise apartments ( 23.63%), duplexes, homes converted to apartments or other small apartment buildings ( 9.82%), and a few row houses and other attached homes ( 9.34%).

The most prevalent building size and type in Castle Shannon are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 58.58% owning and 41.42% 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. Castle Shannon's housing was primarily built during this period, from the '40s through the '60s. A full 68.56% of the borough's housing hails from this era. Other housing ages represented in Castle Shannon include homes built between 1970-1999 ( 14.45%) and housing constructed before 1939 ( 13.33%). There's also some housing in Castle Shannon built between 2000 and later ( 3.66%).

Castle Shannon Home Appreciation Rates

Appreciation rates for homes in Castle Shannon have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 15.61%, which ranks in the top 30% nationwide. This equates to an annual average Castle Shannon house appreciation rate of 1.46%.

Over the last year, Castle Shannon appreciation rates have trailed the rest of the nation. In the last twelve months, Castle Shannon's appreciation rate has been 4.19%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Castle Shannon were at 2.53%, which equates to an annual appreciation rate of 10.50%.

Relative to Pennsylvania, our data show that Castle Shannon's latest annual appreciation rate is higher than 50% of the other cities and towns in Pennsylvania.

Average Home Values

 

Median Home Value:
$126,852

Castle Shannon, PA HOME PRICES

Value Range
> $1,141,000 0.0
$856,001 - $1,141,000 0.0
$571,001 - $856,000 0.0
$457,001 - $571,000 0.0
$342,001 - $457,000 0.3
$228,001 - $342,000 3.5
$114,001 - $228,000 58.2
$57,001 - $114,000 33.5
$0 - $57,000 4.6

Low for PA
Low for Nation

Value Relative to Nation Value Relative to State
62.6222404403584 60.0966183574879

Number Of Homes And Apartments:
3,882

Rent & Ownership

 

Average Market Rent:
$948 / per month

Homeownership Rate

Homeownership
Owners 58.58
Renters 41.42
Vacant 7.26

Housing Market Details

 

Age of Homes

AGE OF Castle Shannon HOMES
2000 or Newer 3.7
1970 - 1999 14.5
1940 - 1969 68.6
1939 or Older 13.3

Types of Homes

TYPE OF Castle Shannon HOMES
Single-Family 57.2
Townhomes 9.3
Small Apt. Buildings 9.8
Apt. Complexes 23.6
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Castle Shannon HOMES
No Bedroom 2.51
1 Bedroom 16.77
2 Bedrooms 29.55
3 Bedrooms 46.63
4 Bedrooms 3.06
5 or more bedrooms 1.48

Castle Shannon 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
46.55% 2.27% 5 6
* 10 is highest

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Zip Codes in Castle Shannon, PA