Lock Haven, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Lock Haven, 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

Lock Haven Housing Market Information

With a population of 9,604, 3,279 total housing units (homes and apartments), and a median house value of $117,143, house prices in Lock Haven are solidly below the national average.

Single-family detached homes are the single most common housing type in Lock Haven, accounting for 40.11% of the city's housing units. Other types of housing that are prevalent in Lock Haven include duplexes, homes converted to apartments or other small apartment buildings ( 25.96%), large apartment complexes or high rise apartments ( 23.51%), and a few row houses and other attached homes ( 8.16%).

Renters dominate Lock Haven's housing market, and most live in three of four bedroom dwellings, chiefly found in single-family detached homes.

The housing in Lock Haven was primarily built before 1939 ( 37.32%), making the housing stock in Lock Haven some of the oldest overall in America, although there is a range of ages of homes in Lock Haven. The next most important housing age is between 1940-1969 ( 35.00%), followed by between 1970-1999 ( 24.94%). There's also some housing in Lock Haven built between 2000 and later ( 2.74%).

Vacant housing appears to be an issue in Lock Haven. Fully 14.54% of the housing stock is classified as vacant. Left unchecked, vacant Lock Haven homes and apartments can be a drag on the real estate market, holding Lock Haven 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.

Lock Haven Home Appreciation Rates

Appreciation rates for homes in Lock Haven have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 10.97%, which ranks in the top 30% nationwide. This equates to an annual average Lock Haven house appreciation rate of 1.05%.

Over the last year, Lock Haven appreciation rates have trailed the rest of the nation. In the last twelve months, Lock Haven's appreciation rate has been -0.02%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Lock Haven were at -1.59%, which equates to an annual appreciation rate of -6.20%.

Notably, Lock Haven's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Pennsylvania, our data show that Lock Haven's latest annual appreciation rate is lower than 80% of the other cities and towns in Pennsylvania.

Average Home Values

 

Median Home Value:
$117,143

Lock Haven, PA HOME PRICES

Value Range
> $1,058,000 0.0
$794,001 - $1,058,000 0.0
$529,001 - $794,000 0.0
$423,001 - $529,000 0.0
$318,001 - $423,000 1.0
$212,001 - $318,000 5.3
$106,001 - $212,000 47.2
$53,001 - $106,000 39.0
$0 - $53,000 7.5

Low for PA
Low for Nation

Value Relative to Nation Value Relative to State
67.1159029649596 64.1545893719807

Number Of Homes And Apartments:
3,279

Lock Haven 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
50.15% 2.38% 7 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,063 / per month

Homeownership Rate

Homeownership
Owners 30.22
Renters 69.78
Vacant 14.54

Housing Market Details

 

Age of Homes

AGE OF Lock Haven HOMES
2000 or Newer 2.7
1970 - 1999 24.9
1940 - 1969 35.0
1939 or Older 37.3

Types of Homes

TYPE OF Lock Haven HOMES
Single-Family 40.1
Townhomes 8.2
Small Apt. Buildings 26.0
Apt. Complexes 23.5
Mobile Homes 2.3
Other 0.0

Home Size

SIZE OF Lock Haven HOMES
No Bedroom 4.30
1 Bedroom 19.52
2 Bedrooms 22.57
3 Bedrooms 32.76
4 Bedrooms 17.75
5 or more bedrooms 3.10

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Zip Codes in Lock Haven, PA