Essington, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Essington, 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

Essington Housing Market Information

With 4,109 people, 811 houses or apartments, and a median cost of homes of $103,714, 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 35.15% of the town's housing units. Other types of housing that are prevalent in Essington include row houses and other attached homes ( 33.81%), duplexes, homes converted to apartments or other small apartment buildings ( 22.86%), and a few large apartment complexes or high rise apartments ( 6.17%).

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 61.59% owning and 38.41% 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 44.21% of the town's housing hails from this era. Other housing ages represented in Essington include homes built between 1970-1999 ( 27.82%) and housing constructed before 1939 ( 25.96%). There's also some housing in Essington built between 2000 and later ( 2.02%).

Vacant housing appears to be an issue in Essington. Fully 10.39% 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

In the last 10 years, Essington has experienced some of the highest home appreciation rates of any community in the nation. Essington real estate appreciated 16.05% over the last ten years, which is an average annual home appreciation rate of 1.50%, putting Essington in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Essington definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Essington's appreciation rate, at 4.78%, has been at or slightly above the national average. In the latest quarter, Essington's appreciation rate has been 0.99%, which annualizes to a rate of 4.00%.

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

Average Home Values

 

Median Home Value:
$103,714

Essington, PA HOME PRICES

Value Range
> $1,079,000 0.7
$809,001 - $1,079,000 0.1
$539,001 - $809,000 0.5
$431,001 - $539,000 1.3
$324,001 - $431,000 2.2
$216,001 - $324,000 8.8
$108,001 - $216,000 23.9
$54,001 - $108,000 44.5
$0 - $54,000 18.0

Low for PA
Low for Nation

Value Relative to Nation Value Relative to State
75.2226649478495 73.4299516908213

Number Of Homes And Apartments:
811

Essington 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
42.76% 2.09% 5 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$706 / per month

Homeownership Rate

Homeownership
Owners 61.59
Renters 38.41
Vacant 10.39

Housing Market Details

 

Age of Homes

AGE OF Essington HOMES
2000 or Newer 2.0
1970 - 1999 27.8
1940 - 1969 44.2
1939 or Older 26.0

Types of Homes

TYPE OF Essington HOMES
Single-Family 35.1
Townhomes 33.8
Small Apt. Buildings 22.9
Apt. Complexes 6.2
Mobile Homes 1.6
Other 0.4

Home Size

SIZE OF Essington HOMES
No Bedroom 1.86
1 Bedroom 10.42
2 Bedrooms 28.25
3 Bedrooms 46.91
4 Bedrooms 10.39
5 or more bedrooms 2.18

Popular Neighborhoods in Essington

Zip Codes in Essington, PA