Harrisburg, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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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 Q2 2018. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2016 (latest available). Updated annually.

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

Harrisburg Housing Market Information

With 48,904 people, 19,981 houses or apartments, and a median cost of homes of $84,817, 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 Home Appreciation Rates

Homes have actually lost value in Harrisburg over the last then years, as home values have seen a decline of 12.27% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Harrisburg home appreciation rates at 0.76%, which equates to an annual appreciation rate of 3.08%.

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 11.03%, which is higher than appreciation rates in 97.28% 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 0.76%, which equates to an annual appreciation rate of 3.08%.

Relative to Pennsylvania, our data show that Harrisburg's latest annual appreciation rate is higher 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:
$84,817

Harrisburg, PA HOME PRICES

Value Range
> $1,079,000 0.0
$809,001 - $1,079,000 0.0
$539,001 - $809,000 0.5
$432,001 - $539,000 0.3
$323,001 - $432,000 1.0
$216,001 - $323,000 5.4
$108,001 - $216,000 29.8
$54,001 - $108,000 41.9
$0 - $54,000 21.0

Very Low for PA
Very Low for Nation

Value Relative to Nation Value Relative to State
90.2131386861314 87.9343629343629

Number Of Homes And Apartments:
19,981

Harrisburg Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
PA*
Compared To
America*
Latest Quarter:
2018 Q1 - 2018 Q2
Last 12 Months:
2017 Q2 - 2018 Q2
Last 2 Years:
2016 Q2 - 2018 Q2
Last 5 Years:
2013 Q2 - 2018 Q2
Last 10 Years:
2008 Q2 - 2018 Q2
Since 2000:
2000 Q1 - 2018 Q2
32.84% 1.55%
2
3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,221 / per month

Homeownership Rate

Homeownership
Owners 35.45
Renters 64.55
Vacant 19.24

Housing Market Details

 

Age of Homes

AGE OF Harrisburg HOMES
2000 or Newer 3.2
1970 - 1999 14.7
1940 - 1969 35.3
1939 or Older 46.9

Types of Homes

TYPE OF Harrisburg HOMES
Single-Family 12.9
Townhomes 44.9
Small Apt. Buildings 17.5
Apt. Complexes 24.3
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF Harrisburg HOMES
No Bedroom 6.52
1 Bedroom 19.66
2 Bedrooms 23.20
3 Bedrooms 33.40
4 Bedrooms 9.99
5 or more bedrooms 7.23