Morrisville, PA Real Estate Market

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 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Morrisville, PA Housing Market Trends

With a population of 8,521, 3,599 total housing units (homes and apartments), and a median house value of $252,886, Morrisville real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Morrisville, accounting for 64.99% of the borough's housing units. Other types of housing that are prevalent in Morrisville include large apartment complexes or high rise apartments ( 18.00%), duplexes, homes converted to apartments or other small apartment buildings ( 8.49%), and a few row houses and other attached homes ( 8.26%).

The most prevalent building size and type in Morrisville are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 61.80% owning and 38.20% 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. Morrisville's housing was primarily built during this period, from the '40s through the '60s. A full 44.03% of the borough's housing hails from this era. Other housing ages represented in Morrisville include homes built before 1939 ( 35.67%) and housing constructed between 1970-1999 ( 18.45%). There's also some housing in Morrisville built between 2000 and later ( 1.85%).

Morrisville Home Appreciation Rates

Morrisville's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Morrisville during the period has been just 1.60%, which is lower than 80% of US communities.

Over the last year, Morrisville appreciation rates have trailed the rest of the nation. In the last twelve months, Morrisville's appreciation rate has been 5.22%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Morrisville were at 1.45%, which equates to an annual appreciation rate of 5.95%.

Relative to Pennsylvania, our data show that Morrisville's latest annual appreciation rate is lower than 60% 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 Morrisville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Morrisville - 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 Morrisville real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$252,886

Morrisville, PA HOME PRICES

> $1,107,000
0.6%
0.6%
$830,001 - $1,107,000
1.0%
1.0%
$553,001 - $830,000
2.1%
2.1%
$443,001 - $553,000
2.2%
2.2%
$332,001 - $443,000
8.2%
8.2%
$222,001 - $332,000
40.1%
40.1%
$111,001 - $222,000
40.6%
40.6%
$55,001 - $111,000
1.3%
1.3%
$0 - $55,000
4.0%
4.0%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Very High for PA

Value Relative To Nation

Number Of Homes And Apartments:
3,599

Morrisville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
PA*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
78.11% 2.75%
7
6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,544 / per month

Homeownership Rate

Owners
61.8%
61.8%
Renters
38.2%
38.2%
Vacant
8.8%
8.8%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1.9%
1.9%
1970 - 1999
18.5%
18.5%
1940 - 1969
44.0%
44.0%
1939 or Older
35.7%
35.7%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
65.0%
65.0%
Townhomes
8.3%
8.3%
Small Apt. Buildings
8.5%
8.5%
Apt. Complexes
18.0%
18.0%
Mobile Homes
0.3%
0.3%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.5%
1.5%
1 Bedroom
15.8%
15.8%
2 Bedrooms
27.5%
27.5%
3 Bedrooms
38.8%
38.8%
4 Bedrooms
14.9%
14.9%
5 or more bedrooms
1.5%
1.5%
0.0% 100.0%
% OF HOMES