Elizabeth, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Elizabeth Neighborhoods Since 2000




Elizabeth, 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

Elizabeth Housing Market Information

With 1,499 people, 643 houses or apartments, and a median cost of homes of $91,354, house prices in Elizabeth 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 Elizabeth, accounting for 60.91% of the borough's housing units. Other types of housing that are prevalent in Elizabeth include duplexes, homes converted to apartments or other small apartment buildings ( 20.30%), large apartment complexes or high rise apartments ( 11.46%), and a few row houses and other attached homes ( 7.32%).

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

The housing in Elizabeth was primarily built before 1939 ( 65.33%), making the housing stock in Elizabeth some of the oldest overall in America, although there is a range of ages of homes in Elizabeth. The next most important housing age is between 1940-1969 ( 30.39%), followed by between 1970-1999 ( 4.28%).

Vacant housing appears to be an issue in Elizabeth. Fully 11.19% of the housing stock is classified as vacant. Left unchecked, vacant Elizabeth homes and apartments can be a drag on the real estate market, holding Elizabeth 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.

Elizabeth Home Appreciation Rates

Appreciation rates for homes in Elizabeth have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 8.12%, which ranks in the top 40% nationwide. This equates to an annual average Elizabeth house appreciation rate of 0.78%.

NeighborhoodScout's data show that during the latest twelve months, Elizabeth's appreciation rate, at 5.07%, has been at or slightly above the national average. In the latest quarter, Elizabeth's appreciation rate has been -0.41%, which annualizes to a rate of -1.65%.

Relative to Pennsylvania, our data show that Elizabeth's latest annual appreciation rate is higher than 80% of the other cities and towns in Pennsylvania.

Average Home Values

 

Median Home Value:
$91,354

Elizabeth, PA HOME PRICES

Value Range
> $1,115,000 0.8
$837,001 - $1,115,000 0.0
$558,001 - $837,000 0.0
$446,001 - $558,000 0.0
$335,001 - $446,000 0.0
$223,001 - $335,000 3.1
$112,001 - $223,000 19.8
$56,001 - $112,000 55.7
$0 - $56,000 20.6

Very Low for PA
Very Low for Nation

Value Relative to Nation Value Relative to State
83.0130083206375 81.8357487922705

Number Of Homes And Apartments:
643

Elizabeth 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
30.14% 1.54% 2 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$719 / per month

Homeownership Rate

Homeownership
Owners 55.83
Renters 44.17
Vacant 11.19

Housing Market Details

 

Age of Homes

AGE OF Elizabeth HOMES
2000 or Newer 0.0
1970 - 1999 4.3
1940 - 1969 30.4
1939 or Older 65.3

Types of Homes

TYPE OF Elizabeth HOMES
Single-Family 60.9
Townhomes 7.3
Small Apt. Buildings 20.3
Apt. Complexes 11.5
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Elizabeth HOMES
No Bedroom 1.38
1 Bedroom 19.75
2 Bedrooms 31.08
3 Bedrooms 37.15
4 Bedrooms 8.70
5 or more bedrooms 1.93