Morrisville, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Morrisville Neighborhoods Since 2000




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 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

Morrisville Housing Market Information

With 8,605 people, 3,381 houses or apartments, and a median cost of homes of $237,043, 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 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 -1.10%, 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 0.90%, 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 0.08%, which equates to an annual appreciation rate of 0.32%.

Relative to Pennsylvania, our data show that Morrisville's latest annual appreciation rate is lower than 70% 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:
$237,043

Morrisville, PA HOME PRICES

Value Range
> $1,058,000 0.8
$794,001 - $1,058,000 1.0
$529,001 - $794,000 0.2
$423,001 - $529,000 2.0
$317,001 - $423,000 7.1
$212,001 - $317,000 38.9
$106,001 - $212,000 45.6
$53,001 - $106,000 1.3
$0 - $53,000 3.1

Very High for PA
High for Nation

Value Relative to Nation Value Relative to State
24.6279151529357 13.719806763285

Number Of Homes And Apartments:
3,381

Morrisville 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
61.05% 2.80% 9 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,426 / per month

Homeownership Rate

Homeownership
Owners 60.64
Renters 39.36
Vacant 10.98

Housing Market Details

 

Age of Homes

AGE OF Morrisville HOMES
2000 or Newer 0.4
1970 - 1999 21.7
1940 - 1969 46.2
1939 or Older 31.6

Types of Homes

TYPE OF Morrisville HOMES
Single-Family 62.2
Townhomes 12.7
Small Apt. Buildings 7.7
Apt. Complexes 17.2
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF Morrisville HOMES
No Bedroom 2.08
1 Bedroom 12.95
2 Bedrooms 18.75
3 Bedrooms 42.31
4 Bedrooms 21.43
5 or more bedrooms 2.47