Harrisburg, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Harrisburg Neighborhoods Since 2000




Harrisburg, 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 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

Harrisburg Housing Market Information

With 49,081 people, 20,516 houses or apartments, and a median cost of homes of $74,841, 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 45.56% of the city's housing units. Other types of housing that are prevalent in Harrisburg include large apartment complexes or high rise apartments ( 23.46%), duplexes, homes converted to apartments or other small apartment buildings ( 16.85%), and a few single-family detached homes ( 13.67%). Cities that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of cities are often walkable and compact, and 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 ( 48.77%), 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 ( 34.84%), followed by between 1970-1999 ( 13.90%). There's also some housing in Harrisburg built between 2000 and later ( 2.50%).

Vacant housing appears to be an issue in Harrisburg. Fully 18.92% 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 Home Appreciation Rates

Homes have actually lost value in Harrisburg over the last then years, as home values have seen a decline of 15.19% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Harrisburg home appreciation rates at 2.39%, which equates to an annual appreciation rate of 9.91%.

Over the last year, Harrisburg appreciation rates have trailed the rest of the nation. In the last twelve months, Harrisburg's appreciation rate has been 0.20%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Harrisburg were at 2.39%, which equates to an annual appreciation rate of 9.91%.

Importantly, this makes Harrisburg one of the highest appreciating communities in the nation for the latest quarter, and 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 lower than 90% 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.

Average Home Values

 

Median Home Value:
$74,841

Harrisburg, PA HOME PRICES

Value Range
> $950,000 0.0
$712,001 - $950,000 0.0
$474,001 - $712,000 0.5
$380,001 - $474,000 0.1
$285,001 - $380,000 1.1
$190,001 - $285,000 5.2
$95,001 - $190,000 28.7
$48,001 - $95,000 41.6
$0 - $48,000 22.7

Very Low for PA
Very Low for Nation

Value Relative to Nation Value Relative to State
94.0218982376017 92.56038647343

Number Of Homes And Apartments:
20,516

Harrisburg Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
PA*
Compared To
America*
Latest Quarter:
2017 Q2 - 2017 Q3
Last 12 Months:
2016 Q3 - 2017 Q3
Last 2 Years:
2015 Q3 - 2017 Q3
Last 5 Years:
2012 Q3 - 2017 Q3
Last 10 Years:
2007 Q3 - 2017 Q3
Since 2000:
2000 Q1 - 2017 Q3
22.57% 1.15% 1 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,063 / per month

Homeownership Rate

Homeownership
Owners 36.79
Renters 63.21
Vacant 18.92

Housing Market Details

 

Age of Homes

AGE OF Harrisburg HOMES
2000 or Newer 2.5
1970 - 1999 13.9
1940 - 1969 34.8
1939 or Older 48.8

Types of Homes

TYPE OF Harrisburg HOMES
Single-Family 13.7
Townhomes 45.6
Small Apt. Buildings 16.9
Apt. Complexes 23.5
Mobile Homes 0.5
Other 0.0

Home Size

SIZE OF Harrisburg HOMES
No Bedroom 6.38
1 Bedroom 18.75
2 Bedrooms 22.66
3 Bedrooms 33.64
4 Bedrooms 10.28
5 or more bedrooms 8.29