Millersville, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Millersville, 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

Millersville Housing Market Information

With 8,420 people, 2,444 houses or apartments, and a median cost of homes of $180,228, 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 54.35% of the borough's housing units. Other types of housing that are prevalent in Millersville include large apartment complexes or high rise apartments ( 18.68%), row houses and other attached homes ( 17.99%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.56%).

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 44.56% owning and 55.44% 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 48.20% of the borough's housing hails from this era. Other housing ages represented in Millersville include homes built between 1970-1999 ( 29.95%) and housing constructed before 1939 ( 14.94%). There's also some housing in Millersville built between 2000 and later ( 6.91%).

Millersville Home Appreciation Rates

Real estate appreciation rates in Millersville's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.20% during the period.

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 5.57%, which is higher than appreciation rates in 70.04% 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 0.61%, which equates to an annual appreciation rate of 2.48%.

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.

One very important thing to keep in mind is that these are average appreciation rates for the borough. Individual neighborhoods within Millersville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Millersville - 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 Millersville real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$180,228

Millersville, PA HOME PRICES

Value Range
> $1,059,000 0.1
$794,001 - $1,059,000 0.0
$529,001 - $794,000 0.4
$424,001 - $529,000 0.9
$318,001 - $424,000 9.3
$212,001 - $318,000 21.0
$106,001 - $212,000 59.3
$53,001 - $106,000 5.9
$0 - $53,000 3.2

High for PA
High for Nation

Value Relative to Nation Value Relative to State
38.0815656861596 27.2463768115942

Number Of Homes And Apartments:
2,444

Millersville 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
40.73% 2.00% 4 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,227 / per month

Homeownership Rate

Homeownership
Owners 44.56
Renters 55.44
Vacant 6.65

Housing Market Details

 

Age of Homes

AGE OF Millersville HOMES
2000 or Newer 6.9
1970 - 1999 29.9
1940 - 1969 48.2
1939 or Older 14.9

Types of Homes

TYPE OF Millersville HOMES
Single-Family 54.4
Townhomes 18.0
Small Apt. Buildings 8.6
Apt. Complexes 18.7
Mobile Homes 0.2
Other 0.2

Home Size

SIZE OF Millersville HOMES
No Bedroom 0.80
1 Bedroom 10.12
2 Bedrooms 20.89
3 Bedrooms 44.12
4 Bedrooms 18.64
5 or more bedrooms 5.42