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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 3,859, 1,870 total housing units (homes and apartments), and a median house value of $156,366, Irwin real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Irwin, accounting for 48.63% of the borough's housing units. Other types of housing that are prevalent in Irwin include large apartment complexes or high rise apartments ( 31.20%), duplexes, homes converted to apartments or other small apartment buildings ( 16.24%), and a few row houses and other attached homes ( 3.93%).
People in Irwin primarily live in small (one, two or no bedroom) single-family detached homes. Irwin has a mixture of owner-occupied and renter-occupied housing.
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. Irwin's housing was primarily built during this period, from the '40s through the '60s. A full 56.39% of the borough's housing hails from this era. Other housing ages represented in Irwin include homes built before 1939 ( 20.88%) and housing constructed between 1970-1999 ( 18.94%). There's also some housing in Irwin built between 2000 and later ( 3.79%).
Vacant housing appears to be an issue in Irwin. Fully 11.46% of the housing stock is classified as vacant. Left unchecked, vacant Irwin homes and apartments can be a drag on the real estate market, holding Irwin 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.
In the last 10 years, Irwin has experienced some of the highest home appreciation rates of any community in the nation. Irwin real estate appreciated 16.90% over the last ten years, which is an average annual home appreciation rate of 1.57%, putting Irwin in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Irwin definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Over the last year, Irwin appreciation rates have trailed the rest of the nation. In the last twelve months, Irwin's appreciation rate has been 0.99%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Irwin were at -0.41%, which equates to an annual appreciation rate of -1.65%.
Relative to Pennsylvania, our data show that Irwin's latest annual appreciation rate is lower than 70% 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 borough. Individual neighborhoods within Irwin differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Irwin - 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 Irwin real estate investment or home purchase decisions.
|$802,001 - $1,070,000||0.0|
|$535,001 - $802,000||0.0|
|$428,001 - $535,000||0.8|
|$321,001 - $428,000||6.1|
|$214,001 - $321,000||11.0|
|$107,001 - $214,000||54.9|
|$54,001 - $107,000||23.5|
|$0 - $54,000||3.4|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Irwin HOMES|
|2000 or Newer||3.8|
|1970 - 1999||18.9|
|1940 - 1969||56.4|
|1939 or Older||20.9|
|TYPE OF Irwin HOMES|
|Small Apt. Buildings||16.2|
|SIZE OF Irwin HOMES|
|5 or more bedrooms||2.46|