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 48,904 people, 19,981 houses or apartments, and a median cost of homes of $82,784, house prices in Harrisburg are some of the most affordable in Pennsylvania as well as the nation.
Row houses and other attached homes are the single most common housing type in Harrisburg, accounting for 44.93% of the city's housing units. Other types of housing that are prevalent in Harrisburg include large apartment complexes or high rise apartments ( 24.33%), duplexes, homes converted to apartments or other small apartment buildings ( 17.51%), and a few single-family detached homes ( 12.89%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.
People in Harrisburg primarily live in small (one, two or no bedroom) row houses and other attached homes. Harrisburg has a mixture of owner-occupied and renter-occupied housing.
The housing in Harrisburg was primarily built before 1939 ( 46.89%), making the housing stock in Harrisburg some of the oldest overall in America, although there is a range of ages of homes in Harrisburg. The next most important housing age is between 1940-1969 ( 35.25%), followed by between 1970-1999 ( 14.70%). There's also some housing in Harrisburg built between 2000 and later ( 3.16%).
Vacant housing appears to be an issue in Harrisburg. Fully 19.24% of the housing stock is classified as vacant. Left unchecked, vacant Harrisburg homes and apartments can be a drag on the real estate market, holding Harrisburg 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.
Harrisburg's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Harrisburg during the period has been just -1.20%, which is lower than 80% of US communities.
Appreciation rates are so strong in Harrisburg that despite a nationwide downturn in the housing market, Harrisburg real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Harrisburg appreciation rates continue to be some of the highest in America, at 7.59%, which is higher than appreciation rates in 78.05% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Harrisburg. Harrisburg appreciation rates in the latest quarter were at 3.30%, which equates to an annual appreciation rate of 13.85%.
Importantly, NeighborhoodScout’s exclusive research found that Harrisburg's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.
Relative to Pennsylvania, our data show that Harrisburg's latest annual appreciation rate is higher than 80% 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 city. Individual neighborhoods within Harrisburg differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Harrisburg - 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 Harrisburg real estate investment or home purchase decisions.
|$790,001 - $1,053,000||0.0|
|$527,001 - $790,000||0.5|
|$422,001 - $527,000||0.3|
|$316,001 - $422,000||1.0|
|$211,001 - $316,000||5.4|
|$105,001 - $211,000||29.8|
|$53,001 - $105,000||41.9|
|$0 - $53,000||21.0|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2017 Q3 - 2017 Q4
Last 12 Months:
2016 Q4 - 2017 Q4
Last 2 Years:
2015 Q4 - 2017 Q4
Last 5 Years:
2012 Q4 - 2017 Q4
Last 10 Years:
2007 Q4 - 2017 Q4
2000 Q1 - 2017 Q4
|* 10 is highest|
|AGE OF Harrisburg HOMES|
|2000 or Newer||3.2|
|1970 - 1999||14.7|
|1940 - 1969||35.3|
|1939 or Older||46.9|
|TYPE OF Harrisburg HOMES|
|Small Apt. Buildings||17.5|
|SIZE OF Harrisburg HOMES|
|5 or more bedrooms||7.23|