Hamburg, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Hamburg, 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

Hamburg Housing Market Information

With 4,398 people, 1,942 houses or apartments, and a median cost of homes of $145,880, Hamburg real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Hamburg, accounting for 40.29% of the borough's housing units. Other types of housing that are prevalent in Hamburg include row houses and other attached homes ( 34.81%), large apartment complexes or high rise apartments ( 13.00%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 10.91%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Hamburg. Owner-occupied housing accounts for 66.43% of Hamburg's homes, and 56.13% have either three or four bedrooms, which is average sized relative to America.

The housing in Hamburg was primarily built before 1939 ( 40.59%), making the housing stock in Hamburg some of the oldest overall in America, although there is a range of ages of homes in Hamburg. The next most important housing age is between 1970-1999 ( 31.18%), followed by between 1940-1969 ( 24.25%). There's also some housing in Hamburg built between 2000 and later ( 3.98%).

Hamburg Home Appreciation Rates

Real estate appreciation rates in Hamburg's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.07% during the period.

Appreciation rates are so strong in Hamburg that despite a nationwide downturn in the housing market, Hamburg real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Hamburg appreciation rates continue to be some of the highest in America, at 9.24%, which is higher than appreciation rates in 91.48% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Hamburg. Hamburg appreciation rates in the latest quarter were at 1.28%, which equates to an annual appreciation rate of 5.21%.

Relative to Pennsylvania, our data show that Hamburg's latest annual appreciation rate is higher than 90% of the other cities and towns in Pennsylvania.

Average Home Values

 

Median Home Value:
$145,880

Hamburg, PA HOME PRICES

Value Range
> $1,112,000 0.0
$834,001 - $1,112,000 0.0
$556,001 - $834,000 0.0
$445,001 - $556,000 0.6
$334,001 - $445,000 1.7
$222,001 - $334,000 10.2
$111,001 - $222,000 53.5
$55,001 - $111,000 32.8
$0 - $55,000 1.2

Average for PA
Average for Nation

Value Relative to Nation Value Relative to State
51.73444275167 46.9565217391304

Number Of Homes And Apartments:
1,942

Hamburg 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
46.04% 2.22% 6 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$882 / per month

Homeownership Rate

Homeownership
Owners 66.43
Renters 33.57
Vacant 3.29

Housing Market Details

 

Age of Homes

AGE OF Hamburg HOMES
2000 or Newer 4.0
1970 - 1999 31.2
1940 - 1969 24.3
1939 or Older 40.6

Types of Homes

TYPE OF Hamburg HOMES
Single-Family 40.3
Townhomes 34.8
Small Apt. Buildings 10.9
Apt. Complexes 13.0
Mobile Homes 1.0
Other 0.0

Home Size

SIZE OF Hamburg HOMES
No Bedroom 0.35
1 Bedroom 16.53
2 Bedrooms 22.81
3 Bedrooms 44.77
4 Bedrooms 11.35
5 or more bedrooms 4.18