Kennett Square, PA Real Estate Market

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 Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Kennett Square, PA Housing Market Trends

With 6,202 people, 2,136 houses or apartments, and a median cost of homes of $301,908, Kennett Square real estate is some of the most expensive in Pennsylvania, although Kennett Square home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Kennett Square, accounting for 47.43% of the borough's housing units. Other types of housing that are prevalent in Kennett Square include large apartment complexes or high rise apartments ( 21.70%), row houses and other attached homes ( 17.84%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 11.62%).

The most prevalent building size and type in Kennett Square are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 55.56% owning and 44.44% renting.

The housing in Kennett Square was primarily built before 1939 ( 35.42%), making the housing stock in Kennett Square some of the oldest overall in America, although there is a range of ages of homes in Kennett Square. The next most important housing age is between 1940-1969 ( 35.12%), followed by between 1970-1999 ( 23.50%). There's also some housing in Kennett Square built between 2000 and later ( 5.96%).

Kennett Square Home Appreciation Rates

Appreciation rates for homes in Kennett Square have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 41.84%, which ranks in the top 40% nationwide. This equates to an annual average Kennett Square house appreciation rate of 3.56%.

NeighborhoodScout's data show that during the latest twelve months, Kennett Square's appreciation rate, at 6.06%, has been at or slightly above the national average. In the latest quarter, Kennett Square's appreciation rate has been 2.67%, which annualizes to a rate of 11.11%.

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

Average Home Values

 

Median Home Value:
$301,908

Kennett Square, PA HOME PRICES

> $1,206,000
2.3%
2.3%
$904,001 - $1,206,000
1.3%
1.3%
$603,001 - $904,000
4.6%
4.6%
$482,001 - $603,000
6.8%
6.8%
$362,001 - $482,000
17.0%
17.0%
$241,001 - $362,000
48.0%
48.0%
$121,001 - $241,000
17.0%
17.0%
$60,001 - $121,000
1.8%
1.8%
$0 - $60,000
1.1%
1.1%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Very High for PA

Value Relative To Nation

Number Of Homes And Apartments:
2,136

Kennett Square Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
PA*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
101.97% 3.40%
10
8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,375 / per month

Homeownership Rate

Owners
55.6%
55.6%
Renters
44.4%
44.4%
Vacant
8.4%
8.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
6.0%
6.0%
1970 - 1999
23.5%
23.5%
1940 - 1969
35.1%
35.1%
1939 or Older
35.4%
35.4%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
47.4%
47.4%
Townhomes
17.8%
17.8%
Small Apt. Buildings
11.6%
11.6%
Apt. Complexes
21.7%
21.7%
Mobile Homes
1.4%
1.4%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.2%
0.2%
1 Bedroom
16.9%
16.9%
2 Bedrooms
23.1%
23.1%
3 Bedrooms
40.0%
40.0%
4 Bedrooms
16.4%
16.4%
5 or more bedrooms
3.5%
3.5%
0.0% 100.0%
% OF HOMES