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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 7,617, 3,369 total housing units (homes and apartments), and a median house value of $102,342, house prices in Ellwood City are solidly below the national average.
Single-family detached homes are the single most common housing type in Ellwood City, accounting for 72.25% of the borough's housing units. Other types of housing that are prevalent in Ellwood City include duplexes, homes converted to apartments or other small apartment buildings ( 13.29%), large apartment complexes or high rise apartments ( 10.06%), and a few row houses and other attached homes ( 3.23%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Ellwood City. Owner-occupied housing accounts for 67.03% of Ellwood City's homes, and 55.10% 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. Ellwood City's housing was primarily built during this period, from the '40s through the '60s. A full 45.52% of the borough's housing hails from this era. Other housing ages represented in Ellwood City include homes built before 1939 ( 42.80%) and housing constructed between 1970-1999 ( 10.83%).
Vacant housing appears to be an issue in Ellwood City. Fully 10.11% of the housing stock is classified as vacant. Left unchecked, vacant Ellwood City homes and apartments can be a drag on the real estate market, holding Ellwood City 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.
Appreciation rates for homes in Ellwood City have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 5.02%, which ranks in the top 40% nationwide. This equates to an annual average Ellwood City house appreciation rate of 0.49%.
Appreciation rates are so strong in Ellwood City that despite a nationwide downturn in the housing market, Ellwood City real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Ellwood City appreciation rates continue to be some of the highest in America, at 6.92%, which is higher than appreciation rates in 80.81% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Ellwood City. Ellwood City appreciation rates in the latest quarter were at -1.49%, which equates to an annual appreciation rate of -5.84%.
Notably, Ellwood City's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Pennsylvania, our data show that Ellwood City's latest annual appreciation rate is higher than 90% 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 borough. Individual neighborhoods within Ellwood City differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Ellwood City - 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 Ellwood City real estate investment or home purchase decisions.
|$831,001 - $1,108,000||0.0|
|$554,001 - $831,000||0.5|
|$444,001 - $554,000||0.9|
|$332,001 - $444,000||1.3|
|$222,001 - $332,000||3.2|
|$111,001 - $222,000||27.5|
|$55,001 - $111,000||54.4|
|$0 - $55,000||12.2|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Ellwood City HOMES|
|2000 or Newer||0.9|
|1970 - 1999||10.8|
|1940 - 1969||45.5|
|1939 or Older||42.8|
|TYPE OF Ellwood City HOMES|
|Small Apt. Buildings||13.3|
|SIZE OF Ellwood City HOMES|
|5 or more bedrooms||1.97|