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
With a population of 8,552, 3,381 total housing units (homes and apartments), and a median house value of $246,454, Morrisville real estate is some of the most expensive in Pennsylvania, although Morrisville home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in Morrisville, accounting for 62.16% of the borough's housing units. Other types of housing that are prevalent in Morrisville include large apartment complexes or high rise apartments ( 17.25%), row houses and other attached homes ( 12.66%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.66%).
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 60.64% owning and 39.36% 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 46.21% of the borough's housing hails from this era. Other housing ages represented in Morrisville include homes built before 1939 ( 31.62%) and housing constructed between 1970-1999 ( 21.72%).
Vacant housing appears to be an issue in Morrisville. Fully 10.98% of the housing stock is classified as vacant. Left unchecked, vacant Morrisville homes and apartments can be a drag on the real estate market, holding Morrisville 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.
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 -0.56%, which is lower than 70% 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 3.34%, 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 1.28%, which equates to an annual appreciation rate of 5.24%.
Relative to Pennsylvania, our data show that Morrisville's latest annual appreciation rate is higher than 50% 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.
|$825,001 - $1,100,000||1.0|
|$550,001 - $825,000||0.2|
|$440,001 - $550,000||2.0|
|$330,001 - $440,000||7.1|
|$220,001 - $330,000||38.9|
|$110,001 - $220,000||45.6|
|$55,001 - $110,000||1.3|
|$0 - $55,000||3.1|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2017 Q2 - 2017 Q3
Last 12 Months:
2016 Q3 - 2017 Q3
Last 2 Years:
2015 Q3 - 2017 Q3
Last 5 Years:
2012 Q3 - 2017 Q3
Last 10 Years:
2007 Q3 - 2017 Q3
2000 Q1 - 2017 Q3
|* 10 is highest|
|AGE OF Morrisville HOMES|
|2000 or Newer||0.4|
|1970 - 1999||21.7|
|1940 - 1969||46.2|
|1939 or Older||31.6|
|TYPE OF Morrisville HOMES|
|Small Apt. Buildings||7.7|
|SIZE OF Morrisville HOMES|
|5 or more bedrooms||2.47|