Lower Burrell, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Lower Burrell, PA Real Estate Data


Lower Burrell Housing Market Information

With 11,466 people, 4,915 houses or apartments, and a median cost of homes of $143,929, Lower Burrell 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 Lower Burrell, accounting for 77.21% of the city's housing units. Other types of housing that are prevalent in Lower Burrell include large apartment complexes or high rise apartments ( 7.68%), row houses and other attached homes ( 6.27%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.10%).

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 77.07% of Lower Burrell's homes, and 63.06% 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 54.40% of the city's housing hails from this era. Other housing ages represented in Lower Burrell include homes built between 1970-1999 ( 31.16%) and housing constructed before 1939 ( 9.12%). There's also some housing in Lower Burrell built between 2000 and later ( 5.31%).

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 13.46%, which ranks in the top 30% nationwide. This equates to an annual average Lower Burrell house appreciation rate of 1.27%.

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 3.56%, 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 2.53%, which equates to an annual appreciation rate of 10.50%.

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:
$143,929

Lower Burrell, PA HOME PRICES

Value Range
> $1,132,000 0.0
$849,001 - $1,132,000 0.0
$566,001 - $849,000 0.6
$453,001 - $566,000 1.8
$340,001 - $453,000 2.6
$226,001 - $340,000 10.1
$113,001 - $226,000 52.5
$57,001 - $113,000 23.6
$0 - $57,000 8.8

Average for PA
Average for Nation

Value Relative to Nation Value Relative to State
53.6511096796861 50.048309178744

Number Of Homes And Apartments:
4,915

Rent & Ownership

 

Average Market Rent:
$904 / per month

Homeownership Rate

Homeownership
Owners 77.07
Renters 22.93
Vacant 7.73

Housing Market Details

 

Age of Homes

AGE OF Lower Burrell HOMES
2000 or Newer 5.3
1970 - 1999 31.2
1940 - 1969 54.4
1939 or Older 9.1

Types of Homes

TYPE OF Lower Burrell HOMES
Single-Family 77.2
Townhomes 6.3
Small Apt. Buildings 6.1
Apt. Complexes 7.7
Mobile Homes 2.7
Other 0.0

Home Size

SIZE OF Lower Burrell HOMES
No Bedroom 0.49
1 Bedroom 8.64
2 Bedrooms 25.64
3 Bedrooms 47.14
4 Bedrooms 15.92
5 or more bedrooms 2.18

Lower Burrell 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
40.93% 2.04% 4 5
* 10 is highest

Popular Neighborhoods in Lower Burrell

Zip Codes in Lower Burrell, PA