Lower Burrell, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Lower Burrell, 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

Lower Burrell Housing Market Information

With 11,466 people, 4,859 houses or apartments, and a median cost of homes of $139,129, house prices in Lower Burrell are solidly below the national average.

Single-family detached homes are the single most common housing type in Lower Burrell, accounting for 78.58% of the city's housing units. Other types of housing that are prevalent in Lower Burrell include large apartment complexes or high rise apartments ( 7.61%), row houses and other attached homes ( 6.03%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.13%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lower Burrell. Owner-occupied housing accounts for 78.53% of Lower Burrell's homes, and 64.87% have either three or four bedrooms, which is average sized relative to America.

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. Lower Burrell's housing was primarily built during this period, from the '40s through the '60s. A full 56.41% of the city's housing hails from this era. Other housing ages represented in Lower Burrell include homes built between 1970-1999 ( 30.80%) and housing constructed before 1939 ( 7.46%). There's also some housing in Lower Burrell built between 2000 and later ( 5.34%).

Lower Burrell Home Appreciation Rates

Appreciation rates for homes in Lower Burrell have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 8.22%, which ranks in the top 40% nationwide. This equates to an annual average Lower Burrell house appreciation rate of 0.79%.

Over the last year, Lower Burrell appreciation rates have trailed the rest of the nation. In the last twelve months, Lower Burrell's appreciation rate has been 1.58%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Lower Burrell were at -0.41%, which equates to an annual appreciation rate of -1.65%.

Relative to Pennsylvania, our data show that Lower Burrell's latest annual appreciation rate is lower than 60% of the other cities and towns in Pennsylvania.

Average Home Values

 

Median Home Value:
$139,129

Lower Burrell, PA HOME PRICES

Value Range
> $1,080,000 0.0
$810,001 - $1,080,000 0.2
$540,001 - $810,000 0.5
$432,001 - $540,000 1.7
$324,001 - $432,000 1.2
$216,001 - $324,000 13.6
$108,001 - $216,000 50.1
$54,001 - $108,000 26.9
$0 - $54,000 5.8

Average for PA
Average for Nation

Value Relative to Nation Value Relative to State
55.1857494433376 50.7246376811594

Number Of Homes And Apartments:
4,859

Lower Burrell 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
35.78% 1.79% 3 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$997 / per month

Homeownership Rate

Homeownership
Owners 78.53
Renters 21.47
Vacant 9.63

Housing Market Details

 

Age of Homes

AGE OF Lower Burrell HOMES
2000 or Newer 5.3
1970 - 1999 30.8
1940 - 1969 56.4
1939 or Older 7.5

Types of Homes

TYPE OF Lower Burrell HOMES
Single-Family 78.6
Townhomes 6.0
Small Apt. Buildings 5.1
Apt. Complexes 7.6
Mobile Homes 2.7
Other 0.0

Home Size

SIZE OF Lower Burrell HOMES
No Bedroom 0.20
1 Bedroom 8.44
2 Bedrooms 24.10
3 Bedrooms 49.30
4 Bedrooms 15.57
5 or more bedrooms 2.38

Popular Neighborhoods in Lower Burrell

Zip Codes in Lower Burrell, PA