Lititz, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Lititz, PA Real Estate Data


Lititz Housing Market Information

With a population of 9,225, 3,739 total housing units (homes and apartments), and a median house value of $221,404, Lititz real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Lititz, accounting for 48.33% of the borough's housing units. Other types of housing that are prevalent in Lititz include row houses and other attached homes ( 25.71%), large apartment complexes or high rise apartments ( 16.18%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 9.79%).

The most prevalent building size and type in Lititz are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 59.08% owning and 40.92% renting.

There is a lot of housing in Lititz built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Lititz built before 1939 ( 30.82%). A lesser amount of the housing stock also hails from between 1940-1969 ( 28.28%). There's also some housing in Lititz built between 2000 and later ( 7.69%).

Lititz Home Appreciation Rates

Appreciation rates for homes in Lititz have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 11.19%, which ranks in the top 30% nationwide. This equates to an annual average Lititz house appreciation rate of 1.07%.

Appreciation rates are so strong in Lititz that despite a nationwide downturn in the housing market, Lititz real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lititz appreciation rates continue to be some of the highest in America, at 6.51%, which is higher than appreciation rates in 76.87% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Lititz. Lititz appreciation rates in the latest quarter were at 1.61%, which equates to an annual appreciation rate of 6.60%.

Importantly, this makes Lititz one of the highest appreciating communities in the nation for the latest quarter, and may signal the borough's near-future real estate investment strength.

Relative to Pennsylvania, our data show that Lititz's latest annual appreciation rate is higher than 90% 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 Lititz differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lititz - 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 Lititz real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$221,404

Lititz, PA HOME PRICES

Value Range
> $1,110,000 0.0
$833,001 - $1,110,000 0.0
$555,001 - $833,000 3.5
$444,001 - $555,000 2.0
$333,001 - $444,000 2.0
$222,001 - $333,000 34.3
$111,001 - $222,000 52.1
$56,001 - $111,000 3.2
$0 - $56,000 2.1

Very High for PA
High for Nation

Value Relative to Nation Value Relative to State
27.1123872026251 16.1352657004831

Number Of Homes And Apartments:
3,739

Rent & Ownership

 

Average Market Rent:
$1,156 / per month

Homeownership Rate

Homeownership
Owners 59.08
Renters 40.92
Vacant 2.91

Housing Market Details

 

Age of Homes

AGE OF Lititz HOMES
2000 or Newer 7.7
1970 - 1999 33.2
1940 - 1969 28.3
1939 or Older 30.8

Types of Homes

TYPE OF Lititz HOMES
Single-Family 48.3
Townhomes 25.7
Small Apt. Buildings 9.8
Apt. Complexes 16.2
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Lititz HOMES
No Bedroom 1.71
1 Bedroom 14.83
2 Bedrooms 22.83
3 Bedrooms 42.87
4 Bedrooms 14.54
5 or more bedrooms 3.22

Lititz Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
PA*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
63.71% 2.90% 9 8
* 10 is highest