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 9,180, 2,503 total housing units (homes and apartments), and a median house value of $353,881, Millersville real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Millersville, accounting for 49.86% of the borough's housing units. Other types of housing that are prevalent in Millersville include row houses and other attached homes ( 20.37%), large apartment complexes or high rise apartments ( 14.55%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 14.43%).
The most prevalent building size and type in Millersville are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 42.23% owning and 57.78% renting.
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. Millersville's housing was primarily built during this period, from the '40s through the '60s. A full 38.13% of the borough's housing hails from this era. Other housing ages represented in Millersville include homes built between 1970-1999 ( 31.07%) and housing constructed before 1939 ( 17.00%). There's also some housing in Millersville built between 2000 and later ( 13.79%).
Appreciation rates for homes in Millersville have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 101.15%, which ranks in the top 40% nationwide. This equates to an annual average Millersville house appreciation rate of 7.24%.
Appreciation rates are so strong in Millersville that despite a nationwide downturn in the housing market, Millersville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Millersville appreciation rates continue to be some of the highest in America, at 14.85%, which is higher than appreciation rates in 86.65% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Millersville. Millersville appreciation rates in the latest quarter were at 6.08%, which equates to an annual appreciation rate of 26.62%.
Importantly, this makes Millersville one of the highest appreciating communities in the nation for the latest quarter, and may signal the borough's near-future real estate investment strength.
Relative to Pennsylvania, our data show that Millersville's latest annual appreciation rate is higher than 80% of the other cities and towns in Pennsylvania.
$353,881
for Pennsylvania
for nation
2,503
$2,063 / per month