Castle Shannon, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Castle Shannon, 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

Castle Shannon Housing Market Information

With a population of 8,235, 3,962 total housing units (homes and apartments), and a median house value of $131,404, 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 57.67% of the borough's housing units. Other types of housing that are prevalent in Castle Shannon include large apartment complexes or high rise apartments ( 23.94%), duplexes, homes converted to apartments or other small apartment buildings ( 10.09%), and a few row houses and other attached homes ( 8.30%).

People in Castle Shannon primarily live in small (one, two or no bedroom) single-family detached homes. Castle Shannon 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. Castle Shannon's housing was primarily built during this period, from the '40s through the '60s. A full 69.75% of the borough's housing hails from this era. Other housing ages represented in Castle Shannon include homes built between 1970-1999 ( 13.92%) and housing constructed before 1939 ( 11.77%). There's also some housing in Castle Shannon built between 2000 and later ( 4.56%).

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 14.79%, which ranks in the top 30% nationwide. This equates to an annual average Castle Shannon house appreciation rate of 1.39%.

NeighborhoodScout's data show that during the latest twelve months, Castle Shannon's appreciation rate, at 4.14%, has been at or slightly above the national average. In the latest quarter, Castle Shannon's appreciation rate has been -0.41%, which annualizes to a rate of -1.65%.

Relative to Pennsylvania, our data show that Castle Shannon's latest annual appreciation rate is higher than 70% of the other cities and towns in Pennsylvania.

Average Home Values

 

Median Home Value:
$131,404

Castle Shannon, PA HOME PRICES

Value Range
> $1,139,000 0.0
$854,001 - $1,139,000 0.0
$569,001 - $854,000 0.0
$456,001 - $569,000 0.0
$342,001 - $456,000 0.2
$228,001 - $342,000 2.1
$114,001 - $228,000 62.3
$57,001 - $114,000 29.7
$0 - $57,000 5.6

Average for PA
Average for Nation

Value Relative to Nation Value Relative to State
59.1116840501582 55.1690821256039

Number Of Homes And Apartments:
3,962

Castle Shannon 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
47.92% 2.30% 6 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$847 / per month

Homeownership Rate

Homeownership
Owners 55.97
Renters 44.03
Vacant 6.36

Housing Market Details

 

Age of Homes

AGE OF Castle Shannon HOMES
2000 or Newer 4.6
1970 - 1999 13.9
1940 - 1969 69.7
1939 or Older 11.8

Types of Homes

TYPE OF Castle Shannon HOMES
Single-Family 57.7
Townhomes 8.3
Small Apt. Buildings 10.1
Apt. Complexes 23.9
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Castle Shannon HOMES
No Bedroom 1.54
1 Bedroom 15.88
2 Bedrooms 32.36
3 Bedrooms 46.23
4 Bedrooms 2.84
5 or more bedrooms 1.16

Popular Neighborhoods in Castle Shannon

Zip Codes in Castle Shannon, PA