Connellsville, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Connellsville Neighborhoods Since 2000




Connellsville, 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

Connellsville Housing Market Information

With 7,515 people, 3,333 houses or apartments, and a median cost of homes of $83,577, house prices in Connellsville are some of the most affordable in Pennsylvania as well as the nation.

Single-family detached homes are the single most common housing type in Connellsville, accounting for 56.09% of the city's housing units. Other types of housing that are prevalent in Connellsville include duplexes, homes converted to apartments or other small apartment buildings ( 22.06%), large apartment complexes or high rise apartments ( 13.17%), and a few row houses and other attached homes ( 8.49%).

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

The housing in Connellsville was primarily built before 1939 ( 44.83%), making the housing stock in Connellsville some of the oldest overall in America, although there is a range of ages of homes in Connellsville. The next most important housing age is between 1940-1969 ( 34.11%), followed by between 1970-1999 ( 19.88%). There's also some housing in Connellsville built between 2000 and later ( 1.19%).

Vacant housing appears to be an issue in Connellsville. Fully 10.21% of the housing stock is classified as vacant. Left unchecked, vacant Connellsville homes and apartments can be a drag on the real estate market, holding Connellsville 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.

Connellsville Home Appreciation Rates

In the last 10 years, Connellsville has experienced some of the highest home appreciation rates of any community in the nation. Connellsville real estate appreciated 17.36% over the last ten years, which is an average annual home appreciation rate of 1.61%, putting Connellsville in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Connellsville definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Connellsville that despite a nationwide downturn in the housing market, Connellsville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Connellsville appreciation rates continue to be some of the highest in America, at 6.02%, which is higher than appreciation rates in 74.24% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Connellsville. Connellsville appreciation rates in the latest quarter were at -0.41%, which equates to an annual appreciation rate of -1.65%.

Relative to Pennsylvania, our data show that Connellsville's latest annual appreciation rate is higher than 90% of the other cities and towns in Pennsylvania.

Average Home Values

 

Median Home Value:
$83,577

Connellsville, PA HOME PRICES

Value Range
> $1,100,000 0.7
$825,001 - $1,100,000 0.9
$550,001 - $825,000 0.3
$440,001 - $550,000 0.0
$330,001 - $440,000 0.0
$220,001 - $330,000 1.3
$110,001 - $220,000 30.8
$55,001 - $110,000 47.9
$0 - $55,000 18.1

Very Low for PA
Very Low for Nation

Value Relative to Nation Value Relative to State
88.2397749912106 87.2463768115942

Number Of Homes And Apartments:
3,333

Connellsville 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
40.14% 1.98% 4 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$722 / per month

Homeownership Rate

Homeownership
Owners 49.69
Renters 50.31
Vacant 10.21

Housing Market Details

 

Age of Homes

AGE OF Connellsville HOMES
2000 or Newer 1.2
1970 - 1999 19.9
1940 - 1969 34.1
1939 or Older 44.8

Types of Homes

TYPE OF Connellsville HOMES
Single-Family 56.1
Townhomes 8.5
Small Apt. Buildings 22.1
Apt. Complexes 13.2
Mobile Homes 0.2
Other 0.0

Home Size

SIZE OF Connellsville HOMES
No Bedroom 9.54
1 Bedroom 15.52
2 Bedrooms 26.00
3 Bedrooms 37.69
4 Bedrooms 8.67
5 or more bedrooms 2.59