Hershey, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Hershey Neighborhoods Since 2000




Hershey, 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

Hershey Housing Market Information

With a population of 14,374, 5,508 total housing units (homes and apartments), and a median house value of $267,680, Hershey real estate is some of the most expensive in Pennsylvania, although Hershey home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Hershey, accounting for 44.68% of the town's housing units. Other types of housing that are prevalent in Hershey include large apartment complexes or high rise apartments ( 26.56%), row houses and other attached homes ( 19.57%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 9.07%).

The most prevalent building size and type in Hershey are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 44.54% owning and 55.46% renting.

There is a lot of housing in Hershey built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Hershey built between 1940-1969 ( 36.01%). A lesser amount of the housing stock also hails from before 1939 ( 13.87%). There's also some housing in Hershey built between 2000 and later ( 5.02%).

Hershey Home Appreciation Rates

Appreciation rates for homes in Hershey have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 4.52%, which ranks in the top 40% nationwide. This equates to an annual average Hershey house appreciation rate of 0.44%.

Appreciation rates are so strong in Hershey that despite a nationwide downturn in the housing market, Hershey real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Hershey appreciation rates continue to be some of the highest in America, at 5.70%, which is higher than appreciation rates in 71.41% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Hershey. Hershey appreciation rates in the latest quarter were at -0.92%, which equates to an annual appreciation rate of -3.65%.

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

Relative to Pennsylvania, our data show that Hershey's latest annual appreciation rate is higher than 80% of the other cities and towns in Pennsylvania.

Average Home Values

 

Median Home Value:
$267,680

Hershey, PA HOME PRICES

Value Range
> $1,097,000 0.7
$823,001 - $1,097,000 1.5
$549,001 - $823,000 4.9
$439,001 - $549,000 8.7
$329,001 - $439,000 15.1
$219,001 - $329,000 30.4
$110,001 - $219,000 30.6
$55,001 - $110,000 5.2
$0 - $55,000 2.8

Very High for PA
High for Nation

Value Relative to Nation Value Relative to State
20.0925817414743 9.95169082125604

Number Of Homes And Apartments:
5,508

Hershey 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
60.82% 2.79% 9 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,247 / per month

Homeownership Rate

Homeownership
Owners 44.54
Renters 55.46
Vacant 8.50

Housing Market Details

 

Age of Homes

AGE OF Hershey HOMES
2000 or Newer 5.0
1970 - 1999 45.1
1940 - 1969 36.0
1939 or Older 13.9

Types of Homes

TYPE OF Hershey HOMES
Single-Family 44.7
Townhomes 19.6
Small Apt. Buildings 9.1
Apt. Complexes 26.6
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Hershey HOMES
No Bedroom 1.38
1 Bedroom 16.00
2 Bedrooms 31.54
3 Bedrooms 29.25
4 Bedrooms 19.68
5 or more bedrooms 2.14