Chambersburg, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Chambersburg Neighborhoods Since 2000




Chambersburg, 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

Chambersburg Housing Market Information

With 20,691 people, 7,953 houses or apartments, and a median cost of homes of $169,255, Chambersburg 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 Chambersburg, accounting for 42.20% of the borough's housing units. Other types of housing that are prevalent in Chambersburg include row houses and other attached homes ( 23.46%), duplexes, homes converted to apartments or other small apartment buildings ( 18.29%), and a few large apartment complexes or high rise apartments ( 15.60%).

The most prevalent building size and type in Chambersburg are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 46.92% owning and 53.08% renting.

The housing in Chambersburg was primarily built before 1939 ( 32.27%), making the housing stock in Chambersburg some of the oldest overall in America, although there is a range of ages of homes in Chambersburg. The next most important housing age is between 1940-1969 ( 28.30%), followed by between 1970-1999 ( 25.34%). There's also some housing in Chambersburg built between 2000 and later ( 14.10%).

Vacant housing appears to be an issue in Chambersburg. Fully 10.37% of the housing stock is classified as vacant. Left unchecked, vacant Chambersburg homes and apartments can be a drag on the real estate market, holding Chambersburg 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.

Chambersburg Home Appreciation Rates

Chambersburg's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Chambersburg during the period has been just -1.44%, which is lower than 80% of US communities.

Over the last year, Chambersburg appreciation rates have trailed the rest of the nation. In the last twelve months, Chambersburg's appreciation rate has been 2.39%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Chambersburg were at 0.52%, which equates to an annual appreciation rate of 2.09%.

Relative to Pennsylvania, our data show that Chambersburg's latest annual appreciation rate is higher than 50% 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 Chambersburg differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Chambersburg - 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 Chambersburg real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$169,255

Chambersburg, PA HOME PRICES

Value Range
> $1,041,000 1.4
$780,001 - $1,041,000 0.2
$520,001 - $780,000 0.4
$416,001 - $520,000 0.9
$312,001 - $416,000 4.2
$208,001 - $312,000 16.9
$104,001 - $208,000 59.6
$52,001 - $104,000 13.5
$0 - $52,000 3.0

High for PA
Average for Nation

Value Relative to Nation Value Relative to State
41.9020274229462 32.7536231884058

Number Of Homes And Apartments:
7,953

Chambersburg 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
46.37% 2.23% 6 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$944 / per month

Homeownership Rate

Homeownership
Owners 46.92
Renters 53.08
Vacant 10.37

Housing Market Details

 

Age of Homes

AGE OF Chambersburg HOMES
2000 or Newer 14.1
1970 - 1999 25.3
1940 - 1969 28.3
1939 or Older 32.3

Types of Homes

TYPE OF Chambersburg HOMES
Single-Family 42.2
Townhomes 23.5
Small Apt. Buildings 18.3
Apt. Complexes 15.6
Mobile Homes 0.3
Other 0.2

Home Size

SIZE OF Chambersburg HOMES
No Bedroom 2.56
1 Bedroom 15.64
2 Bedrooms 26.77
3 Bedrooms 42.44
4 Bedrooms 10.41
5 or more bedrooms 2.18