Essington, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Essington, PA Real Estate Data


Essington Housing Market Information

With a population of 4,109, 802 total housing units (homes and apartments), and a median house value of $100,808, house prices in Essington are solidly below the national average.

Single-family detached homes are the single most common housing type in Essington, accounting for 37.53% of the town's housing units. Other types of housing that are prevalent in Essington include row houses and other attached homes ( 33.92%), duplexes, homes converted to apartments or other small apartment buildings ( 22.39%), and a few large apartment complexes or high rise apartments ( 6.15%).

The most prevalent building size and type in Essington are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 63.72% owning and 36.28% renting.

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. Essington's housing was primarily built during this period, from the '40s through the '60s. A full 46.84% of the town's housing hails from this era. Other housing ages represented in Essington include homes built between 1970-1999 ( 27.01%) and housing constructed before 1939 ( 24.67%). There's also some housing in Essington built between 2000 and later ( 1.48%).

Vacant housing appears to be an issue in Essington. Fully 10.51% of the housing stock is classified as vacant. Left unchecked, vacant Essington homes and apartments can be a drag on the real estate market, holding Essington 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.

Essington Home Appreciation Rates

Appreciation rates for homes in Essington have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 16.15%, which ranks in the top 30% nationwide. This equates to an annual average Essington house appreciation rate of 1.51%.

Over the last year, Essington appreciation rates have trailed the rest of the nation. In the last twelve months, Essington's appreciation rate has been 2.52%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Essington were at -0.32%, which equates to an annual appreciation rate of -1.26%.

Notably, Essington's appreciation rate in the latest quarter is one of the lowest in America.

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

Average Home Values

 

Median Home Value:
$100,808

Essington, PA HOME PRICES

Value Range
> $1,230,000 0.8
$922,001 - $1,230,000 0.1
$614,001 - $922,000 0.6
$492,001 - $614,000 1.2
$369,001 - $492,000 2.5
$246,001 - $369,000 7.3
$123,001 - $246,000 24.1
$62,001 - $123,000 45.7
$0 - $62,000 17.9

Low for PA
Low for Nation

Value Relative to Nation Value Relative to State
78.3217192715348 78.2608695652174

Number Of Homes And Apartments:
802

Rent & Ownership

 

Average Market Rent:
$692 / per month

Homeownership Rate

Homeownership
Owners 63.72
Renters 36.28
Vacant 10.51

Housing Market Details

 

Age of Homes

AGE OF Essington HOMES
2000 or Newer 1.5
1970 - 1999 27.0
1940 - 1969 46.8
1939 or Older 24.7

Types of Homes

TYPE OF Essington HOMES
Single-Family 37.5
Townhomes 33.9
Small Apt. Buildings 22.4
Apt. Complexes 6.2
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Essington HOMES
No Bedroom 2.27
1 Bedroom 11.32
2 Bedrooms 27.37
3 Bedrooms 45.85
4 Bedrooms 11.90
5 or more bedrooms 1.29

Essington 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
41.54% 2.06% 4 5
* 10 is highest

Popular Neighborhoods in Essington

Zip Codes in Essington, PA