Nazareth, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Nazareth, 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

Nazareth Housing Market Information

With a population of 5,681, 2,511 total housing units (homes and apartments), and a median house value of $181,969, Nazareth real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Nazareth, accounting for 38.66% of the borough's housing units. Other types of housing that are prevalent in Nazareth include large apartment complexes or high rise apartments ( 25.59%), duplexes, homes converted to apartments or other small apartment buildings ( 25.34%), and a few row houses and other attached homes ( 10.41%).

People in Nazareth primarily live in small (one, two or no bedroom) single-family detached homes. Nazareth has a mixture of owner-occupied and renter-occupied housing.

The housing in Nazareth was primarily built before 1939 ( 52.49%), making the housing stock in Nazareth some of the oldest overall in America, although there is a range of ages of homes in Nazareth. The next most important housing age is between 1940-1969 ( 24.83%), followed by between 1970-1999 ( 16.35%). There's also some housing in Nazareth built between 2000 and later ( 6.33%).

Nazareth Home Appreciation Rates

Nazareth's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Nazareth during the period has been just -1.81%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Nazareth's appreciation rate, at 3.24%, has been at or slightly above the national average. In the latest quarter, Nazareth's appreciation rate has been 0.88%, which annualizes to a rate of 3.57%.

Relative to Pennsylvania, our data show that Nazareth's latest annual appreciation rate is higher than 60% 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 Nazareth differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Nazareth - 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 Nazareth real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$181,969

Nazareth, PA HOME PRICES

Value Range
> $1,046,000 0.8
$785,001 - $1,046,000 0.0
$523,001 - $785,000 1.1
$418,001 - $523,000 0.0
$314,001 - $418,000 3.1
$209,001 - $314,000 23.6
$104,001 - $209,000 65.6
$53,001 - $104,000 3.7
$0 - $53,000 2.0

High for PA
High for Nation

Value Relative to Nation Value Relative to State
37.4897456931911 26.5700483091787

Number Of Homes And Apartments:
2,511

Nazareth 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
36.80% 1.83% 3 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,592 / per month

Homeownership Rate

Homeownership
Owners 45.57
Renters 54.43
Vacant 8.59

Housing Market Details

 

Age of Homes

AGE OF Nazareth HOMES
2000 or Newer 6.3
1970 - 1999 16.3
1940 - 1969 24.8
1939 or Older 52.5

Types of Homes

TYPE OF Nazareth HOMES
Single-Family 38.7
Townhomes 10.4
Small Apt. Buildings 25.3
Apt. Complexes 25.6
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Nazareth HOMES
No Bedroom 6.95
1 Bedroom 22.72
2 Bedrooms 29.56
3 Bedrooms 31.74
4 Bedrooms 7.61
5 or more bedrooms 1.42