Elizabeth, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Elizabeth, PA Real Estate Data


Elizabeth Housing Market Information

With 1,499 people, 655 houses or apartments, and a median cost of homes of $86,792, 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 59.75% 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 ( 20.75%), large apartment complexes or high rise apartments ( 12.45%), and a few row houses and other attached homes ( 7.05%).

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 ( 62.52%), 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 ( 31.26%), followed by between 1970-1999 ( 6.22%).

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 7.34%, which ranks in the top 40% nationwide. This equates to an annual average Elizabeth house appreciation rate of 0.71%.

Over the last year, Elizabeth appreciation rates have trailed the rest of the nation. In the last twelve months, Elizabeth's appreciation rate has been 2.85%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Elizabeth were at 2.53%, which equates to an annual appreciation rate of 10.50%.

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

Average Home Values

 

Median Home Value:
$86,792

Elizabeth, PA HOME PRICES

Value Range
> $1,082,000 0.0
$812,001 - $1,082,000 0.0
$541,001 - $812,000 0.0
$433,001 - $541,000 0.0
$325,001 - $433,000 0.0
$216,001 - $325,000 2.5
$108,001 - $216,000 19.3
$54,001 - $108,000 57.8
$0 - $54,000 20.4

Very Low for PA
Very Low for Nation

Value Relative to Nation Value Relative to State
87.2811383732506 86.8599033816425

Number Of Homes And Apartments:
655

Rent & Ownership

 

Average Market Rent:
$663 / per month

Homeownership Rate

Homeownership
Owners 54.50
Renters 45.50
Vacant 9.41

Housing Market Details

 

Age of Homes

AGE OF Elizabeth HOMES
2000 or Newer 0.0
1970 - 1999 6.2
1940 - 1969 31.3
1939 or Older 62.5

Types of Homes

TYPE OF Elizabeth HOMES
Single-Family 59.8
Townhomes 7.1
Small Apt. Buildings 20.7
Apt. Complexes 12.4
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Elizabeth HOMES
No Bedroom 1.38
1 Bedroom 22.27
2 Bedrooms 27.94
3 Bedrooms 37.90
4 Bedrooms 9.13
5 or more bedrooms 1.38

Elizabeth 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
27.45% 1.44% 2 3
* 10 is highest