Hazleton, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Hazleton Neighborhoods Since 2000




Hazleton, 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

Hazleton Housing Market Information

With a population of 24,825, 8,966 total housing units (homes and apartments), and a median house value of $81,295, house prices in Hazleton are some of the most affordable in Pennsylvania as well as the nation.

Single-family detached homes are the single most common housing type in Hazleton, accounting for 38.40% of the city's housing units. Other types of housing that are prevalent in Hazleton include row houses and other attached homes ( 32.56%), duplexes, homes converted to apartments or other small apartment buildings ( 18.05%), and a few large apartment complexes or high rise apartments ( 9.76%).

The most prevalent building size and type in Hazleton are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 50.69% owning and 49.31% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Hazleton's housing was primarily built during this period, from the '40s through the '60s. A full 41.33% of the city's housing hails from this era. Other housing ages represented in Hazleton include homes built before 1939 ( 38.79%) and housing constructed between 1970-1999 ( 18.35%). There's also some housing in Hazleton built between 2000 and later ( 1.54%).

Vacant housing appears to be an issue in Hazleton. Fully 16.46% of the housing stock is classified as vacant. Left unchecked, vacant Hazleton homes and apartments can be a drag on the real estate market, holding Hazleton 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.

Hazleton Home Appreciation Rates

Homes have actually lost value in Hazleton over the last then years, as home values have seen a decline of 25.99% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Hazleton home appreciation rates at 2.13%, which equates to an annual appreciation rate of 8.80%.

Appreciation rates are so strong in Hazleton that despite a nationwide downturn in the housing market, Hazleton real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Hazleton appreciation rates continue to be some of the highest in America, at 8.03%, which is higher than appreciation rates in 86.86% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Hazleton. Hazleton appreciation rates in the latest quarter were at 2.13%, which equates to an annual appreciation rate of 8.80%.

Importantly, this makes Hazleton 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 Hazleton'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 Hazleton differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Hazleton - 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 Hazleton real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$81,295

Hazleton, PA HOME PRICES

Value Range
> $987,000 0.3
$741,001 - $987,000 0.0
$494,001 - $741,000 0.0
$395,001 - $494,000 0.1
$296,001 - $395,000 0.6
$197,001 - $296,000 4.8
$99,001 - $197,000 29.8
$49,001 - $99,000 46.5
$0 - $49,000 18.0

Very Low for PA
Very Low for Nation

Value Relative to Nation Value Relative to State
89.6577991327786 88.3091787439614

Number Of Homes And Apartments:
8,966

Hazleton 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
10.51% 0.58% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$936 / per month

Homeownership Rate

Homeownership
Owners 50.69
Renters 49.31
Vacant 16.46

Housing Market Details

 

Age of Homes

AGE OF Hazleton HOMES
2000 or Newer 1.5
1970 - 1999 18.3
1940 - 1969 41.3
1939 or Older 38.8

Types of Homes

TYPE OF Hazleton HOMES
Single-Family 38.4
Townhomes 32.6
Small Apt. Buildings 18.0
Apt. Complexes 9.8
Mobile Homes 1.2
Other 0.0

Home Size

SIZE OF Hazleton HOMES
No Bedroom 2.93
1 Bedroom 10.59
2 Bedrooms 25.93
3 Bedrooms 42.16
4 Bedrooms 10.69
5 or more bedrooms 7.70