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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Myerstown, 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 Q3 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2021 (latest available). Updated annually.

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

Myerstown, PA Housing Market Trends

With a population of 3,102, 1,261 total housing units (homes and apartments), and a median house value of $224,940, house prices in Myerstown are solidly below the national average.

Single-family detached homes are the single most common housing type in Myerstown, accounting for 48.02% of the borough's housing units. Other types of housing that are prevalent in Myerstown include duplexes, homes converted to apartments or other small apartment buildings ( 24.80%), row houses and other attached homes ( 18.31%), and a few large apartment complexes or high rise apartments ( 6.20%).

The most prevalent building size and type in Myerstown are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 54.40% owning and 45.60% renting.

The housing in Myerstown was primarily built before 1939 ( 52.42%), making the housing stock in Myerstown some of the oldest overall in America, although there is a range of ages of homes in Myerstown. The next most important housing age is between 1940-1969 ( 34.32%), followed by between 1970-1999 ( 12.47%).

Myerstown Home Appreciation Rates

Myerstown's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Myerstown during the period has been just 5.21%, which is lower than 70% of US communities.

Appreciation rates are so strong in Myerstown that despite a nationwide downturn in the housing market, Myerstown real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Myerstown appreciation rates continue to be some of the highest in America, at 11.90%, which is higher than appreciation rates in 97.27% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Myerstown. Myerstown appreciation rates in the latest quarter were at 6.29%, which equates to an annual appreciation rate of 27.65%.

Importantly, this makes Myerstown one of the highest appreciating communities in the nation for the latest quarter, and may signal the borough's near-future real estate investment strength.

Relative to Pennsylvania, our data show that Myerstown's latest annual appreciation rate is higher than 90% of the other cities and towns in Pennsylvania.

Average Home Values

Median Home Value

$224,940

Myerstown, PA Home Prices
> $1,473,000
$1,105,001 - $1,473,000
$736,001 - $1,105,000
$589,001 - $736,000
$441,001 - $589,000
$295,001 - $441,000
$147,001 - $295,000
$74,001 - $147,000
$0 - $74,000
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
1.1%
1.1%
4.6%
4.6%
8.6%
8.6%
71.8%
71.8%
12.6%
12.6%
1.3%
1.3%
0% 100.0%
% of Homes
Average

for Pennsylvania

Average

for nation

Number of Homes And Apartments:

1,261

Myerstown Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,369 / per month

Homeownership Rate

Owners
Renters
Vacant
54.4%
54.4%
45.6%
45.6%
9.1%
9.1%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
0.8%
0.8%
12.5%
12.5%
34.3%
34.3%
52.4%
52.4%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
48.0%
48.0%
18.3%
18.3%
24.8%
24.8%
6.2%
6.2%
2.7%
2.7%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.0%
0.0%
15.6%
15.6%
27.1%
27.1%
48.0%
48.0%
7.5%
7.5%
1.7%
1.7%
0% 100.0%
% of Homes