Mercersburg, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Mercersburg Neighborhoods Since 2000




Mercersburg, 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

Mercersburg Housing Market Information

With 1,558 people, 669 houses or apartments, and a median cost of homes of $169,209, Mercersburg 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 Mercersburg, accounting for 49.87% of the borough's housing units. Other types of housing that are prevalent in Mercersburg include duplexes, homes converted to apartments or other small apartment buildings ( 29.72%), row houses and other attached homes ( 10.72%), and a few large apartment complexes or high rise apartments ( 9.04%).

The most prevalent building size and type in Mercersburg are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 45.44% owning and 54.56% renting.

The housing in Mercersburg was primarily built before 1939 ( 47.16%), making the housing stock in Mercersburg some of the oldest overall in America, although there is a range of ages of homes in Mercersburg. The next most important housing age is between 1940-1969 ( 27.26%), followed by between 1970-1999 ( 20.93%). There's also some housing in Mercersburg built between 2000 and later ( 4.65%).

Vacant housing appears to be an issue in Mercersburg. Fully 13.57% of the housing stock is classified as vacant. Left unchecked, vacant Mercersburg homes and apartments can be a drag on the real estate market, holding Mercersburg 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.

Mercersburg Home Appreciation Rates

Mercersburg's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Mercersburg during the period has been just -1.70%, which is lower than 80% of US communities.

Over the last year, Mercersburg appreciation rates have trailed the rest of the nation. In the last twelve months, Mercersburg's appreciation rate has been 1.08%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Mercersburg were at 0.52%, which equates to an annual appreciation rate of 2.09%.

Relative to Pennsylvania, our data show that Mercersburg's latest annual appreciation rate is lower than 70% of the other cities and towns in Pennsylvania.

Average Home Values

 

Median Home Value:
$169,209

Mercersburg, PA HOME PRICES

Value Range
> $1,034,000 2.6
$776,001 - $1,034,000 0.0
$517,001 - $776,000 0.4
$414,001 - $517,000 0.4
$310,001 - $414,000 8.3
$207,001 - $310,000 22.0
$103,001 - $207,000 43.2
$52,001 - $103,000 13.5
$0 - $52,000 9.6

High for PA
Average for Nation

Value Relative to Nation Value Relative to State
41.9254658385093 32.8502415458937

Number Of Homes And Apartments:
669

Mercersburg 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
48.34% 2.31% 6 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$846 / per month

Homeownership Rate

Homeownership
Owners 45.44
Renters 54.56
Vacant 13.57

Housing Market Details

 

Age of Homes

AGE OF Mercersburg HOMES
2000 or Newer 4.7
1970 - 1999 20.9
1940 - 1969 27.3
1939 or Older 47.2

Types of Homes

TYPE OF Mercersburg HOMES
Single-Family 49.9
Townhomes 10.7
Small Apt. Buildings 29.7
Apt. Complexes 9.0
Mobile Homes 0.6
Other 0.0

Home Size

SIZE OF Mercersburg HOMES
No Bedroom 4.65
1 Bedroom 19.12
2 Bedrooms 23.39
3 Bedrooms 36.95
4 Bedrooms 12.79
5 or more bedrooms 3.10