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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 2,536, 1,124 total housing units (homes and apartments), and a median house value of $179,903, house prices in Millersburg are solidly below the national average.
Single-family detached homes are the single most common housing type in Millersburg, accounting for 53.29% of the borough's housing units. Other types of housing that are prevalent in Millersburg include row houses and other attached homes ( 17.89%), large apartment complexes or high rise apartments ( 15.42%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 13.40%).
The most prevalent building size and type in Millersburg are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 53.28% owning and 46.72% renting.
The housing in Millersburg was primarily built before 1939 ( 35.25%), making the housing stock in Millersburg some of the oldest overall in America, although there is a range of ages of homes in Millersburg. The next most important housing age is between 1940-1969 ( 34.51%), followed by between 1970-1999 ( 21.86%). There's also some housing in Millersburg built between 2000 and later ( 8.38%).
Vacant housing appears to be an issue in Millersburg. Fully 15.87% of the housing stock is classified as vacant. Left unchecked, vacant Millersburg homes and apartments can be a drag on the real estate market, holding Millersburg 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.
Real estate appreciation rates in Millersburg's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.77% during the period.
Appreciation rates are so strong in Millersburg that despite a nationwide downturn in the housing market, Millersburg real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Millersburg appreciation rates continue to be some of the highest in America, at 7.64%, which is higher than appreciation rates in 79.76% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Millersburg. Millersburg appreciation rates in the latest quarter were at -0.82%, which equates to an annual appreciation rate of -3.24%.
Notably, Millersburg's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Pennsylvania, our data show that Millersburg's latest annual appreciation rate is higher than 80% of the other cities and towns in Pennsylvania.
$179,903
for Pennsylvania
for nation
1,124
$1,139 / per month