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 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

Harrisburg Housing Market Information

With a population of 49,081, 20,516 total housing units (homes and apartments), and a median house value of $73,295, 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 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.

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

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 -1.75%, which is lower than 80% of US communities.

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 -1.78%, 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 -0.92%, which equates to an annual appreciation rate of -3.65%.

Notably, Harrisburg's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Pennsylvania, our data show that Harrisburg's latest annual appreciation rate is lower 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.

Average Home Values

 

Median Home Value:
$73,295

Harrisburg, PA HOME PRICES

Value Range
> $930,000 0.0
$697,001 - $930,000 0.0
$465,001 - $697,000 0.5
$372,001 - $465,000 0.1
$279,001 - $372,000 1.1
$186,001 - $279,000 5.2
$93,001 - $186,000 28.7
$47,001 - $93,000 41.6
$0 - $47,000 22.7

Very Low for PA
Very Low for Nation

Value Relative to Nation Value Relative to State
93.8679245283019 92.3671497584541

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:
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
20.04% 1.06% 1 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,065 / 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