Lewisburg, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Lewisburg, PA Real Estate Data


Lewisburg Housing Market Information

With 5,774 people, 1,842 houses or apartments, and a median cost of homes of $175,125, Lewisburg 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 Lewisburg, accounting for 32.29% of the borough's housing units. Other types of housing that are prevalent in Lewisburg include large apartment complexes or high rise apartments ( 29.75%), duplexes, homes converted to apartments or other small apartment buildings ( 24.87%), and a few row houses and other attached homes ( 13.09%).

Lewisburg is dominated by renter-occupied one, two, or no bedrooms apartments. 78.78% of Lewisburg's dwellings are rentals.

The housing in Lewisburg was primarily built before 1939 ( 34.73%), making the housing stock in Lewisburg some of the oldest overall in America, although there is a range of ages of homes in Lewisburg. The next most important housing age is between 1940-1969 ( 32.73%), followed by between 1970-1999 ( 29.90%). There's also some housing in Lewisburg built between 2000 and later ( 2.64%).

Vacant housing appears to be an issue in Lewisburg. Fully 10.01% of the housing stock is classified as vacant. Left unchecked, vacant Lewisburg homes and apartments can be a drag on the real estate market, holding Lewisburg 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.

Lewisburg Home Appreciation Rates

In the last 10 years, Lewisburg has experienced some of the highest home appreciation rates of any community in the nation. Lewisburg real estate appreciated 23.66% over the last ten years, which is an average annual home appreciation rate of 2.15%, putting Lewisburg in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Lewisburg definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Lewisburg's appreciation rate, at 4.65%, has been at or slightly above the national average. In the latest quarter, Lewisburg's appreciation rate has been 2.15%, which annualizes to a rate of 8.89%.

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

Average Home Values

 

Median Home Value:
$175,125

Lewisburg, PA HOME PRICES

Value Range
> $1,139,000 0.0
$855,001 - $1,139,000 0.0
$570,001 - $855,000 2.7
$456,001 - $570,000 0.0
$342,001 - $456,000 1.9
$228,001 - $342,000 21.1
$114,001 - $228,000 49.3
$57,001 - $114,000 22.7
$0 - $57,000 2.3

High for PA
Average for Nation

Value Relative to Nation Value Relative to State
40.9498155413714 32.2705314009662

Number Of Homes And Apartments:
1,842

Rent & Ownership

 

Average Market Rent:
$1,016 / per month

Homeownership Rate

Homeownership
Owners 21.22
Renters 78.78
Vacant 10.01

Housing Market Details

 

Age of Homes

AGE OF Lewisburg HOMES
2000 or Newer 2.6
1970 - 1999 29.9
1940 - 1969 32.7
1939 or Older 34.7

Types of Homes

TYPE OF Lewisburg HOMES
Single-Family 32.3
Townhomes 13.1
Small Apt. Buildings 24.9
Apt. Complexes 29.8
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Lewisburg HOMES
No Bedroom 3.37
1 Bedroom 20.22
2 Bedrooms 27.99
3 Bedrooms 32.29
4 Bedrooms 11.68
5 or more bedrooms 4.45

Lewisburg Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
PA*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
74.74% 3.34% 10 9
* 10 is highest