Crafton, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Crafton, PA Real Estate Data


Crafton Housing Market Information

With 5,876 people, 2,731 houses or apartments, and a median cost of homes of $132,168, house prices in Crafton are solidly below the national average.

Single-family detached homes are the single most common housing type in Crafton, accounting for 48.86% of the borough's housing units. Other types of housing that are prevalent in Crafton include duplexes, homes converted to apartments or other small apartment buildings ( 27.71%), large apartment complexes or high rise apartments ( 15.90%), and a few row houses and other attached homes ( 7.53%).

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

The housing in Crafton was primarily built before 1939 ( 52.01%), making the housing stock in Crafton some of the oldest overall in America, although there is a range of ages of homes in Crafton. The next most important housing age is between 1940-1969 ( 32.86%), followed by between 1970-1999 ( 15.13%).

Crafton Home Appreciation Rates

In the last 10 years, Crafton has experienced some of the highest home appreciation rates of any community in the nation. Crafton real estate appreciated 19.27% over the last ten years, which is an average annual home appreciation rate of 1.78%, putting Crafton in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Crafton definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Crafton appreciation rates have trailed the rest of the nation. In the last twelve months, Crafton's appreciation rate has been 3.95%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Crafton were at 2.53%, which equates to an annual appreciation rate of 10.50%.

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

Average Home Values

 

Median Home Value:
$132,168

Crafton, PA HOME PRICES

Value Range
> $1,176,000 0.0
$882,001 - $1,176,000 0.0
$588,001 - $882,000 0.0
$471,001 - $588,000 0.0
$353,001 - $471,000 0.4
$235,001 - $353,000 6.0
$117,001 - $235,000 57.2
$58,001 - $117,000 31.8
$0 - $58,000 4.5

Average for PA
Average for Nation

Value Relative to Nation Value Relative to State
59.6123440885401 56.9082125603865

Number Of Homes And Apartments:
2,731

Rent & Ownership

 

Average Market Rent:
$857 / per month

Homeownership Rate

Homeownership
Owners 53.38
Renters 46.62
Vacant 8.60

Housing Market Details

 

Age of Homes

AGE OF Crafton HOMES
2000 or Newer 0.0
1970 - 1999 15.1
1940 - 1969 32.9
1939 or Older 52.0

Types of Homes

TYPE OF Crafton HOMES
Single-Family 48.9
Townhomes 7.5
Small Apt. Buildings 27.7
Apt. Complexes 15.9
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Crafton HOMES
No Bedroom 1.61
1 Bedroom 16.87
2 Bedrooms 34.40
3 Bedrooms 32.60
4 Bedrooms 11.21
5 or more bedrooms 3.31

Crafton 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
51.31% 2.47% 6 6
* 10 is highest