King of Prussia, 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 Q3 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

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

King of Prussia Housing Market Information

With 20,107 people, 8,784 houses or apartments, and a median cost of homes of $336,803, King of Prussia real estate is some of the most expensive in Pennsylvania, although King of Prussia home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in King of Prussia, accounting for 45.08% of the town's housing units. Other types of housing that are prevalent in King of Prussia include large apartment complexes or high rise apartments ( 42.71%), row houses and other attached homes ( 7.51%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.50%).

The most prevalent building size and type in King of Prussia are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 58.54% owning and 41.46% 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. King of Prussia's housing was primarily built during this period, from the '40s through the '60s. A full 47.16% of the town's housing hails from this era. Other housing ages represented in King of Prussia include homes built between 1970-1999 ( 43.15%) and housing constructed between 2000 and later ( 7.74%). There's also some housing in King of Prussia built before 1939 ( 1.95%).

Vacant housing appears to be an issue in King of Prussia. Fully 10.03% of the housing stock is classified as vacant. Left unchecked, vacant King of Prussia homes and apartments can be a drag on the real estate market, holding King of Prussia 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.

King of Prussia Home Appreciation Rates

Real estate appreciation rates in King of Prussia's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 1.93% during the period.

NeighborhoodScout's data show that during the latest twelve months, King of Prussia's appreciation rate, at 4.15%, has been at or slightly above the national average. In the latest quarter, King of Prussia's appreciation rate has been 1.34%, which annualizes to a rate of 5.47%.

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

Average Home Values

 
info

Median Home Value:
$336,803

King of Prussia, PA HOME PRICES

> $1,193,000
0.2%
0.2%
$895,001 - $1,193,000
0.3%
0.3%
$597,001 - $895,000
6.0%
6.0%
$477,001 - $597,000
9.1%
9.1%
$358,001 - $477,000
29.7%
29.7%
$239,001 - $358,000
40.5%
40.5%
$120,001 - $239,000
11.9%
11.9%
$60,001 - $120,000
0.2%
0.2%
$0 - $60,000
2.3%
2.3%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for PA

Value Relative To Nation

Number Of Homes And Apartments:
8,784

King of Prussia Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
PA*
Compared To
America*
Latest Quarter:
2020 Q2 - 2020 Q3
Last 12 Months:
2019 Q3 - 2020 Q3
Last 2 Years:
2018 Q3 - 2020 Q3
Last 5 Years:
2015 Q3 - 2020 Q3
Last 10 Years:
2010 Q3 - 2020 Q3
Since 2000:
2000 Q1 - 2020 Q3
99.14% 3.38%
10
8
* 10 is highest

Rent & Ownership

 
info

Average Market Rent:
$1,860 / per month

Homeownership Rate

Owners
58.5%
58.5%
Renters
41.5%
41.5%
Vacant
10.0%
10.0%
0.0% 100.0%
% OF HOMES

Housing Market Details

 
info

Age of Homes

2000 or Newer
7.7%
7.7%
1970 - 1999
43.2%
43.2%
1940 - 1969
47.2%
47.2%
1939 or Older
1.9%
1.9%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
45.1%
45.1%
Townhomes
7.5%
7.5%
Small Apt. Buildings
4.5%
4.5%
Apt. Complexes
42.7%
42.7%
Mobile Homes
0.1%
0.1%
Other
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
3.4%
3.4%
1 Bedroom
16.8%
16.8%
2 Bedrooms
27.1%
27.1%
3 Bedrooms
29.3%
29.3%
4 Bedrooms
20.6%
20.6%
5 or more bedrooms
2.8%
2.8%
0.0% 100.0%
% OF HOMES