Franklin Park PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Franklin Park, 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 Q3 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Franklin Park Housing Market Information

With 14,749 people, 5,223 houses or apartments, and a median cost of homes of $353,716, Franklin Park real estate is some of the most expensive in Pennsylvania, although Franklin Park home values aren't among America's most expensive.

Franklin Park is a borough of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Franklin Park than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Franklin Park. Owner-occupied housing accounts for 92.49% of Franklin Park's homes, and 79.27% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Franklin Park built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Franklin Park built between 1940-1969 ( 22.58%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.39%). There's also some housing in Franklin Park built before 1939 ( 3.63%).

Franklin Park Home Appreciation Rates

Appreciation rates for homes in Franklin Park have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 32.16%, which ranks in the top 30% nationwide. This equates to an annual average Franklin Park house appreciation rate of 2.83%.

NeighborhoodScout's data show that during the latest twelve months, Franklin Park's appreciation rate, at 3.61%, has been at or slightly above the national average. In the latest quarter, Franklin Park's appreciation rate has been 2.81%, which annualizes to a rate of 11.73%.

Importantly, this makes Franklin Park one of the highest appreciating communities in the nation for the latest quarter, and may signal the borough's near-future real estate investment strength.

Relative to Pennsylvania, our data show that Franklin Park's latest annual appreciation rate is higher than 50% of the other cities and towns in Pennsylvania.

Average Home Values

 

Median Home Value:
$353,716

Franklin Park, PA HOME PRICES

Value Range
> $1,150,000 1.8
$863,001 - $1,150,000 0.9
$575,001 - $863,000 9.6
$460,001 - $575,000 17.2
$345,001 - $460,000 26.8
$230,001 - $345,000 20.9
$115,001 - $230,000 19.1
$57,001 - $115,000 2.3
$0 - $57,000 1.5

Very High for PA
Very High for Nation

Value Relative to Nation Value Relative to State
15.0832116788321 6.46718146718147

Number Of Homes And Apartments:
5,223

Franklin Park Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
PA*
Compared To
America*
Latest Quarter:
2019 Q2 - 2019 Q3
Last 12 Months:
2018 Q3 - 2019 Q3
Last 2 Years:
2017 Q3 - 2019 Q3
Last 5 Years:
2014 Q3 - 2019 Q3
Last 10 Years:
2009 Q3 - 2019 Q3
Since 2000:
2000 Q1 - 2019 Q3
72.85% 2.81%
8
7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,049 / per month

Homeownership Rate

Homeownership
Owners 92.49
Renters 7.51
Vacant 3.17

Housing Market Details

 

Age of Homes

AGE OF Franklin Park HOMES
2000 or Newer 17.4
1970 - 1999 56.4
1940 - 1969 22.6
1939 or Older 3.6

Types of Homes

TYPE OF Franklin Park HOMES
Single-Family 84.2
Townhomes 11.3
Small Apt. Buildings 0.7
Apt. Complexes 3.5
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF Franklin Park HOMES
No Bedroom 1.45
1 Bedroom 1.06
2 Bedrooms 9.01
3 Bedrooms 28.49
4 Bedrooms 50.78
5 or more bedrooms 9.21