Edgewood PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Edgewood, 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 Q2 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Edgewood Housing Market Information

With a population of 3,012, 1,566 total housing units (homes and apartments), and a median house value of $245,435, Edgewood real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Edgewood, accounting for 62.87% of the borough's housing units. Other types of housing that are prevalent in Edgewood include large apartment complexes or high rise apartments ( 20.37%), duplexes, homes converted to apartments or other small apartment buildings ( 11.03%), and a few row houses and other attached homes ( 5.73%).

The most prevalent building size and type in Edgewood are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 62.58% owning and 37.42% renting.

The housing in Edgewood was primarily built before 1939 ( 55.58%), making the housing stock in Edgewood some of the oldest overall in America, although there is a range of ages of homes in Edgewood. The next most important housing age is between 1940-1969 ( 26.79%), followed by between 1970-1999 ( 16.01%). There's also some housing in Edgewood built between 2000 and later ( 1.62%).

Edgewood Home Appreciation Rates

In the last 10 years, Edgewood has experienced some of the highest home appreciation rates of any community in the nation. Edgewood real estate appreciated 53.38% over the last ten years, which is an average annual home appreciation rate of 4.37%, putting Edgewood in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Edgewood 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 Edgewood that despite a nationwide downturn in the housing market, Edgewood real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Edgewood appreciation rates continue to be some of the highest in America, at 5.45%, which is higher than appreciation rates in 72.30% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Edgewood. Edgewood appreciation rates in the latest quarter were at 0.97%, which equates to an annual appreciation rate of 3.95%.

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

Average Home Values

 

Median Home Value:
$245,435

Edgewood, PA HOME PRICES

Value Range
> $1,251,000 0.4
$939,001 - $1,251,000 0.8
$625,001 - $939,000 2.7
$501,001 - $625,000 6.6
$375,001 - $501,000 11.6
$250,001 - $375,000 26.7
$125,001 - $250,000 41.5
$62,001 - $125,000 7.9
$0 - $62,000 1.8

Very High for PA
High for Nation

Value Relative to Nation Value Relative to State
30.1021897810219 17.8571428571429

Number Of Homes And Apartments:
1,566

Edgewood Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
PA*
Compared To
America*
Latest Quarter:
2020 Q1 - 2020 Q2
Last 12 Months:
2019 Q2 - 2020 Q2
Last 2 Years:
2018 Q2 - 2020 Q2
Last 5 Years:
2015 Q2 - 2020 Q2
Last 10 Years:
2010 Q2 - 2020 Q2
Since 2000:
2000 Q1 - 2020 Q2
111.28% 3.72%
10
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,085 / per month

Homeownership Rate

Homeownership
Owners 62.58
Renters 37.42
Vacant 2.43

Housing Market Details

 

Age of Homes

AGE OF Edgewood HOMES
2000 or Newer 1.6
1970 - 1999 16.0
1940 - 1969 26.8
1939 or Older 55.6

Types of Homes

TYPE OF Edgewood HOMES
Single-Family 62.9
Townhomes 5.7
Small Apt. Buildings 11.0
Apt. Complexes 20.4
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Edgewood HOMES
No Bedroom 1.93
1 Bedroom 19.56
2 Bedrooms 19.63
3 Bedrooms 32.46
4 Bedrooms 13.96
5 or more bedrooms 12.46