Morrisville PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Morrisville, 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 Q3 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

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

Morrisville Housing Market Information

With 8,521 people, 3,492 houses or apartments, and a median cost of homes of $253,470, 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 70.50% of the borough's housing units. Other types of housing that are prevalent in Morrisville include large apartment complexes or high rise apartments ( 13.55%), row houses and other attached homes ( 8.53%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.18%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Morrisville. Owner-occupied housing accounts for 66.53% of Morrisville's homes, and 62.05% have either three or four bedrooms, which is average sized relative to America.

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 45.26% of the borough's housing hails from this era. Other housing ages represented in Morrisville include homes built before 1939 ( 36.70%) and housing constructed between 1970-1999 ( 15.61%). There's also some housing in Morrisville built between 2000 and later ( 2.43%).

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 1.28%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Morrisville's appreciation rate, at 3.99%, has been at or slightly above the national average. In the latest quarter, Morrisville's appreciation rate has been 1.34%, which annualizes to a rate of 5.46%.

Relative to Pennsylvania, our data show that Morrisville's latest annual appreciation rate is lower 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.

Average Home Values

 

Median Home Value:
$253,470

Morrisville, PA HOME PRICES

Value Range
> $1,122,000 1.2
$842,001 - $1,122,000 0.5
$561,001 - $842,000 2.1
$449,001 - $561,000 1.7
$337,001 - $449,000 6.6
$224,001 - $337,000 40.8
$112,001 - $224,000 43.4
$56,001 - $112,000 0.6
$0 - $56,000 3.3

Very High for PA
High for Nation

Value Relative to Nation Value Relative to State
29.0919708029197 16.8918918918919

Number Of Homes And Apartments:
3,492

Morrisville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
PA*
Compared To
America*
Latest Quarter:
2020 Q2 - 2020 Q3
Last 12 Months:
2019 Q3 - 2020 Q3
Last 2 Years:
2018 Q3 - 2020 Q3
Last 5 Years:
2015 Q3 - 2020 Q3
Last 10 Years:
2010 Q3 - 2020 Q3
Since 2000:
2000 Q1 - 2020 Q3
76.86% 2.79%
7
6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,497 / per month

Homeownership Rate

Homeownership
Owners 66.53
Renters 33.47
Vacant 7.79

Housing Market Details

 

Age of Homes

AGE OF Morrisville HOMES
2000 or Newer 2.4
1970 - 1999 15.6
1940 - 1969 45.3
1939 or Older 36.7

Types of Homes

TYPE OF Morrisville HOMES
Single-Family 70.5
Townhomes 8.5
Small Apt. Buildings 7.2
Apt. Complexes 13.5
Mobile Homes 0.2
Other 0.0

Home Size

SIZE OF Morrisville HOMES
No Bedroom 1.87
1 Bedroom 13.47
2 Bedrooms 20.99
3 Bedrooms 41.09
4 Bedrooms 20.97
5 or more bedrooms 1.61