Jeannette, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Jeannette, 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

Jeannette Housing Market Information

With a population of 9,335, 4,363 total housing units (homes and apartments), and a median house value of $79,529, house prices in Jeannette 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 Jeannette, accounting for 67.96% of the city's housing units. Other types of housing that are prevalent in Jeannette include duplexes, homes converted to apartments or other small apartment buildings ( 15.56%), row houses and other attached homes ( 9.00%), and a few large apartment complexes or high rise apartments ( 6.88%).

The most prevalent building size and type in Jeannette are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 62.35% owning and 37.65% 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. Jeannette's housing was primarily built during this period, from the '40s through the '60s. A full 47.68% of the city's housing hails from this era. Other housing ages represented in Jeannette include homes built before 1939 ( 39.50%) and housing constructed between 1970-1999 ( 11.23%). There's also some housing in Jeannette built between 2000 and later ( 1.59%).

Vacant housing appears to be an issue in Jeannette. Fully 12.20% of the housing stock is classified as vacant. Left unchecked, vacant Jeannette homes and apartments can be a drag on the real estate market, holding Jeannette 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.

Jeannette Home Appreciation Rates

Appreciation rates for homes in Jeannette have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 5.60%, which ranks in the top 40% nationwide. This equates to an annual average Jeannette house appreciation rate of 0.55%.

Over the last year, Jeannette appreciation rates have trailed the rest of the nation. In the last twelve months, Jeannette's appreciation rate has been 2.20%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Jeannette were at -0.41%, which equates to an annual appreciation rate of -1.65%.

Relative to Pennsylvania, our data show that Jeannette's latest annual appreciation rate is higher than 50% 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 Jeannette differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Jeannette - 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 Jeannette real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$79,529

Jeannette, PA HOME PRICES

Value Range
> $1,081,000 0.0
$811,001 - $1,081,000 0.0
$541,001 - $811,000 0.0
$432,001 - $541,000 0.2
$325,001 - $432,000 0.5
$216,001 - $325,000 3.8
$109,001 - $216,000 24.0
$54,001 - $109,000 59.6
$0 - $54,000 12.0

Very Low for PA
Very Low for Nation

Value Relative to Nation Value Relative to State
90.8033516934255 88.8888888888889

Number Of Homes And Apartments:
4,363

Jeannette 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
26.98% 1.39% 2 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$732 / per month

Homeownership Rate

Homeownership
Owners 62.35
Renters 37.65
Vacant 12.20

Housing Market Details

 

Age of Homes

AGE OF Jeannette HOMES
2000 or Newer 1.6
1970 - 1999 11.2
1940 - 1969 47.7
1939 or Older 39.5

Types of Homes

TYPE OF Jeannette HOMES
Single-Family 68.0
Townhomes 9.0
Small Apt. Buildings 15.6
Apt. Complexes 6.9
Mobile Homes 0.6
Other 0.0

Home Size

SIZE OF Jeannette HOMES
No Bedroom 2.98
1 Bedroom 10.69
2 Bedrooms 35.42
3 Bedrooms 40.77
4 Bedrooms 9.20
5 or more bedrooms 0.95