Harrisburg, PA Real Estate Market

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 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Harrisburg, PA Housing Market Trends

With a population of 49,271, 20,543 total housing units (homes and apartments), and a median house value of $103,824, 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 47.66% of the city's housing units. Other types of housing that are prevalent in Harrisburg include large apartment complexes or high rise apartments ( 22.31%), duplexes, homes converted to apartments or other small apartment buildings ( 18.26%), and a few single-family detached homes ( 11.62%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

Harrisburg is dominated by renter-occupied one, two, or no bedrooms apartments. 65.14% of Harrisburg's dwellings are rentals.

The housing in Harrisburg was primarily built before 1939 ( 47.48%), 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 ( 33.74%), followed by between 1970-1999 ( 14.58%). There's also some housing in Harrisburg built between 2000 and later ( 4.20%).

Vacant housing appears to be an issue in Harrisburg. Fully 19.27% 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

Some of the lowest real estate appreciation rates in America over the last ten years have been in Harrisburg, where house values have increased just 14.88%, which is annualized rate of 1.40%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

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 12.80%, which is higher than appreciation rates in 88.25% 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 3.20%, which equates to an annual appreciation rate of 13.43%.

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:
$103,824

Harrisburg, PA HOME PRICES

> $1,236,000
0.2%
0.2%
$927,001 - $1,236,000
0.1%
0.1%
$618,001 - $927,000
0.6%
0.6%
$495,001 - $618,000
0.5%
0.5%
$371,001 - $495,000
1.0%
1.0%
$247,001 - $371,000
4.2%
4.2%
$124,001 - $247,000
28.0%
28.0%
$62,001 - $124,000
49.2%
49.2%
$0 - $62,000
16.2%
16.2%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very Low for Nation

Very Low for PA

Value Relative To Nation

Number Of Homes And Apartments:
20,543

Harrisburg Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
PA*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
55.73% 2.08%
2
3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,101 / per month

Homeownership Rate

Owners
34.9%
34.9%
Renters
65.1%
65.1%
Vacant
19.3%
19.3%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
4.2%
4.2%
1970 - 1999
14.6%
14.6%
1940 - 1969
33.7%
33.7%
1939 or Older
47.5%
47.5%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
11.6%
11.6%
Townhomes
47.7%
47.7%
Small Apt. Buildings
18.3%
18.3%
Apt. Complexes
22.3%
22.3%
Mobile Homes
0.1%
0.1%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
6.4%
6.4%
1 Bedroom
20.0%
20.0%
2 Bedrooms
22.0%
22.0%
3 Bedrooms
34.3%
34.3%
4 Bedrooms
9.7%
9.7%
5 or more bedrooms
7.6%
7.6%
0.0% 100.0%
% OF HOMES