Economy, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Economy Neighborhoods Since 2000




Economy, 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

Economy Housing Market Information

With a population of 9,322, 3,683 total housing units (homes and apartments), and a median house value of $175,501, Economy real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Economy, accounting for 94.88% of the borough's housing units. Other types of housing that are prevalent in Economy include row houses and other attached homes ( 2.31%), mobile homes or trailers ( 1.62%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.19%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Economy. Owner-occupied housing accounts for 96.14% of Economy's homes, and 79.64% have either three or four bedrooms, which is average sized relative to America.

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. Economy's housing was primarily built during this period, from the '40s through the '60s. A full 42.13% of the borough's housing hails from this era. Other housing ages represented in Economy include homes built between 1970-1999 ( 39.37%) and housing constructed between 2000 and later ( 12.88%). There's also some housing in Economy built before 1939 ( 5.62%).

Economy Home Appreciation Rates

Appreciation rates for homes in Economy have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 12.36%, which ranks in the top 30% nationwide. This equates to an annual average Economy house appreciation rate of 1.17%.

NeighborhoodScout's data show that during the latest twelve months, Economy's appreciation rate, at 3.36%, has been at or slightly above the national average. In the latest quarter, Economy's appreciation rate has been -0.41%, which annualizes to a rate of -1.65%.

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

Average Home Values

 

Median Home Value:
$175,501

Economy, PA HOME PRICES

Value Range
> $1,087,000 0.8
$815,001 - $1,087,000 0.0
$544,001 - $815,000 0.3
$435,001 - $544,000 1.6
$326,001 - $435,000 9.2
$217,001 - $326,000 22.5
$109,001 - $217,000 51.6
$54,001 - $109,000 10.1
$0 - $54,000 3.9

High for PA
High for Nation

Value Relative to Nation Value Relative to State
39.7632720028126 29.8550724637681

Number Of Homes And Apartments:
3,683

Economy 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
39.98% 1.97% 4 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,092 / per month

Homeownership Rate

Homeownership
Owners 96.14
Renters 3.86
Vacant 2.36

Housing Market Details

 

Age of Homes

AGE OF Economy HOMES
2000 or Newer 12.9
1970 - 1999 39.4
1940 - 1969 42.1
1939 or Older 5.6

Types of Homes

TYPE OF Economy HOMES
Single-Family 94.9
Townhomes 2.3
Small Apt. Buildings 1.2
Apt. Complexes 0.0
Mobile Homes 1.6
Other 0.0

Home Size

SIZE OF Economy HOMES
No Bedroom 0.00
1 Bedroom 1.06
2 Bedrooms 16.65
3 Bedrooms 57.32
4 Bedrooms 22.32
5 or more bedrooms 2.65