McKeesport, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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McKeesport, 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

McKeesport Housing Market Information

With a population of 19,453, 8,653 total housing units (homes and apartments), and a median house value of $48,186, house prices in McKeesport are some of the most affordable in Pennsylvania as well as the nation.

Single-family detached homes are the single most common housing type in McKeesport, accounting for 67.38% of the city's housing units. Other types of housing that are prevalent in McKeesport include large apartment complexes or high rise apartments ( 15.82%), duplexes, homes converted to apartments or other small apartment buildings ( 8.28%), and a few row houses and other attached homes ( 8.23%).

People in McKeesport primarily live in small (one, two or no bedroom) single-family detached homes. McKeesport has a mixture of owner-occupied and renter-occupied housing.

The housing in McKeesport was primarily built before 1939 ( 51.59%), making the housing stock in McKeesport some of the oldest overall in America, although there is a range of ages of homes in McKeesport. The next most important housing age is between 1940-1969 ( 38.03%), followed by between 1970-1999 ( 8.06%). There's also some housing in McKeesport built between 2000 and later ( 2.33%).

Vacant housing appears to be an issue in McKeesport. Fully 20.39% of the housing stock is classified as vacant. Left unchecked, vacant McKeesport homes and apartments can be a drag on the real estate market, holding McKeesport 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.

McKeesport Home Appreciation Rates

Appreciation rates for homes in McKeesport have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 9.38%, which ranks in the top 30% nationwide. This equates to an annual average McKeesport house appreciation rate of 0.90%.

Appreciation rates are so strong in McKeesport that despite a nationwide downturn in the housing market, McKeesport real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, McKeesport appreciation rates continue to be some of the highest in America, at 9.74%, which is higher than appreciation rates in 93.12% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in McKeesport. McKeesport appreciation rates in the latest quarter were at -0.41%, which equates to an annual appreciation rate of -1.65%.

Relative to Pennsylvania, our data show that McKeesport'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 city. Individual neighborhoods within McKeesport differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in McKeesport - 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 McKeesport real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$48,186

McKeesport, PA HOME PRICES

Value Range
> $1,154,000 0.0
$866,001 - $1,154,000 0.0
$577,001 - $866,000 0.3
$462,001 - $577,000 0.0
$346,001 - $462,000 0.0
$231,001 - $346,000 1.0
$115,001 - $231,000 8.0
$58,001 - $115,000 32.4
$0 - $58,000 58.3

Very Low for PA
Very Low for Nation

Value Relative to Nation Value Relative to State
99.449197234267 98.4541062801932

Number Of Homes And Apartments:
8,653

McKeesport 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
19.58% 1.04% 1 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$760 / per month

Homeownership Rate

Homeownership
Owners 50.19
Renters 49.81
Vacant 20.39

Housing Market Details

 

Age of Homes

AGE OF McKeesport HOMES
2000 or Newer 2.3
1970 - 1999 8.1
1940 - 1969 38.0
1939 or Older 51.6

Types of Homes

TYPE OF McKeesport HOMES
Single-Family 67.4
Townhomes 8.2
Small Apt. Buildings 8.3
Apt. Complexes 15.8
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF McKeesport HOMES
No Bedroom 2.78
1 Bedroom 14.41
2 Bedrooms 38.46
3 Bedrooms 34.41
4 Bedrooms 7.80
5 or more bedrooms 2.14