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 5,728, 2,835 total housing units (homes and apartments), and a median house value of $47,599, house prices in Mount Carmel are some of the most affordable in Pennsylvania as well as the nation.
Row houses and other attached homes are the single most common housing type in Mount Carmel, accounting for 55.00% of the borough's housing units. Other types of housing that are prevalent in Mount Carmel include single-family detached homes ( 29.10%), large apartment complexes or high rise apartments ( 9.41%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.76%). This particular housing mix is relatively uncommon and characteristic of boroughs that are compact and walkable, and which often have a lively downtown.
Owner-occupied, three and four bedroom dwellings, primarily in row houses and other attached homes are the most prevalent type of housing you will see in Mount Carmel. Owner-occupied housing accounts for 68.90% of Mount Carmel's homes, and 59.41% have either three or four bedrooms, which is average sized relative to America.
The housing in Mount Carmel was primarily built before 1939 ( 68.51%), making the housing stock in Mount Carmel some of the oldest overall in America, although there is a range of ages of homes in Mount Carmel. The next most important housing age is between 1940-1969 ( 19.89%), followed by between 1970-1999 ( 10.98%).
Vacant housing appears to be an issue in Mount Carmel. Fully 20.37% of the housing stock is classified as vacant. Left unchecked, vacant Mount Carmel homes and apartments can be a drag on the real estate market, holding Mount Carmel 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.
Appreciation rates for homes in Mount Carmel have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 7.01%, which ranks in the top 40% nationwide. This equates to an annual average Mount Carmel house appreciation rate of 0.68%.
Over the last year, Mount Carmel appreciation rates have trailed the rest of the nation. In the last twelve months, Mount Carmel's appreciation rate has been 2.13%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Mount Carmel were at -1.59%, which equates to an annual appreciation rate of -6.20%.
Notably, Mount Carmel's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Pennsylvania, our data show that Mount Carmel's latest annual appreciation rate is lower than 50% of the other cities and towns in Pennsylvania.
|$775,001 - $1,033,000||0.0|
|$517,001 - $775,000||1.3|
|$413,001 - $517,000||0.0|
|$310,001 - $413,000||1.1|
|$207,001 - $310,000||3.6|
|$103,001 - $207,000||13.3|
|$52,001 - $103,000||25.5|
|$0 - $52,000||55.3|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Mount Carmel HOMES|
|2000 or Newer||0.6|
|1970 - 1999||11.0|
|1940 - 1969||19.9|
|1939 or Older||68.5|
|TYPE OF Mount Carmel HOMES|
|Small Apt. Buildings||5.8|
|SIZE OF Mount Carmel HOMES|
|5 or more bedrooms||8.15|