Cranberry Twp, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Cranberry Twp, 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

Cranberry Twp Housing Market Information

With 30,457 people, 1,612 houses or apartments, and a median cost of homes of $298,043, Cranberry Twp real estate is some of the most expensive in Pennsylvania, although Cranberry Twp home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Cranberry Twp, accounting for 70.84% of the town's housing units. Other types of housing that are prevalent in Cranberry Twp include row houses and other attached homes ( 13.82%), large apartment complexes or high rise apartments ( 9.62%), and a few mobile homes or trailers ( 4.13%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Cranberry Twp. Owner-occupied housing accounts for 84.10% of Cranberry Twp's homes, and 74.76% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Cranberry Twp built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Cranberry Twp built between 2000 and later ( 26.20%). A lesser amount of the housing stock also hails from between 1940-1969 ( 9.35%). There's also some housing in Cranberry Twp built before 1939 ( 1.34%).

Cranberry Twp Home Appreciation Rates

In the last 10 years, Cranberry Twp has experienced some of the highest home appreciation rates of any community in the nation. Cranberry Twp real estate appreciated 19.68% over the last ten years, which is an average annual home appreciation rate of 1.81%, putting Cranberry Twp in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Cranberry Twp 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, Cranberry Twp appreciation rates have trailed the rest of the nation. In the last twelve months, Cranberry Twp's appreciation rate has been -0.18%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Cranberry Twp were at -0.41%, which equates to an annual appreciation rate of -1.65%.

Relative to Pennsylvania, our data show that Cranberry Twp's latest annual appreciation rate is lower than 80% 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 town. Individual neighborhoods within Cranberry Twp differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Cranberry Twp - 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 Cranberry Twp real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$298,043

Cranberry Twp, PA HOME PRICES

Value Range
> $1,079,000 0.8
$809,001 - $1,079,000 0.6
$539,001 - $809,000 6.4
$432,001 - $539,000 10.6
$324,001 - $432,000 21.1
$216,001 - $324,000 30.2
$108,001 - $216,000 23.8
$54,001 - $108,000 2.7
$0 - $54,000 3.8

Very High for PA
Very High for Nation

Value Relative to Nation Value Relative to State
16.4420485175202 7.43961352657005

Number Of Homes And Apartments:
1,612

Cranberry Twp 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
52.03% 2.46% 7 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,502 / per month

Homeownership Rate

Homeownership
Owners 84.10
Renters 15.90
Vacant 3.51

Housing Market Details

 

Age of Homes

AGE OF Cranberry Twp HOMES
2000 or Newer 26.2
1970 - 1999 63.1
1940 - 1969 9.3
1939 or Older 1.3

Types of Homes

TYPE OF Cranberry Twp HOMES
Single-Family 70.8
Townhomes 13.8
Small Apt. Buildings 1.6
Apt. Complexes 9.6
Mobile Homes 4.1
Other 0.0

Home Size

SIZE OF Cranberry Twp HOMES
No Bedroom 1.13
1 Bedroom 3.82
2 Bedrooms 15.14
3 Bedrooms 32.30
4 Bedrooms 42.46
5 or more bedrooms 5.15