New Florence, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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New Florence, PA Real Estate Data


New Florence Housing Market Information

With a population of 666, 321 total housing units (homes and apartments), and a median house value of $115,358, house prices in New Florence are solidly below the national average.

Single-family detached homes are the single most common housing type in New Florence, accounting for 73.96% of the borough's housing units. Other types of housing that are prevalent in New Florence include duplexes, homes converted to apartments or other small apartment buildings ( 17.46%), row houses and other attached homes ( 4.44%), and a few mobile homes or trailers ( 3.55%).

The most prevalent building size and type in New Florence are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 60.75% owning and 39.25% renting.

The housing in New Florence was primarily built before 1939 ( 39.94%), making the housing stock in New Florence some of the oldest overall in America, although there is a range of ages of homes in New Florence. The next most important housing age is between 1940-1969 ( 37.28%), followed by between 1970-1999 ( 18.64%). There's also some housing in New Florence built between 2000 and later ( 4.14%).

New Florence Home Appreciation Rates

In the last 10 years, New Florence has experienced some of the highest home appreciation rates of any community in the nation. New Florence real estate appreciated 22.34% over the last ten years, which is an average annual home appreciation rate of 2.04%, putting New Florence in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, New Florence definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, New Florence appreciation rates have trailed the rest of the nation. In the last twelve months, New Florence's appreciation rate has been 3.21%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in New Florence were at 2.53%, which equates to an annual appreciation rate of 10.50%.

Relative to Pennsylvania, our data show that New Florence's latest annual appreciation rate is lower than 70% of the other cities and towns in Pennsylvania.

Average Home Values

 

Median Home Value:
$115,358

New Florence, PA HOME PRICES

Value Range
> $1,161,000 0.7
$870,001 - $1,161,000 0.0
$580,001 - $870,000 2.3
$464,001 - $580,000 0.6
$348,001 - $464,000 1.6
$232,001 - $348,000 9.0
$116,001 - $232,000 28.7
$58,001 - $116,000 36.5
$0 - $58,000 20.5

Low for PA
Low for Nation

Value Relative to Nation Value Relative to State
69.0314458042982 67.8743961352657

Number Of Homes And Apartments:
321

Rent & Ownership

 

Average Market Rent:
$703 / per month

Homeownership Rate

Homeownership
Owners 60.75
Renters 39.25
Vacant 5.03

Housing Market Details

 

Age of Homes

AGE OF New Florence HOMES
2000 or Newer 4.1
1970 - 1999 18.6
1940 - 1969 37.3
1939 or Older 39.9

Types of Homes

TYPE OF New Florence HOMES
Single-Family 74.0
Townhomes 4.4
Small Apt. Buildings 17.5
Apt. Complexes 0.6
Mobile Homes 3.6
Other 0.0

Home Size

SIZE OF New Florence HOMES
No Bedroom 0.00
1 Bedroom 13.31
2 Bedrooms 34.62
3 Bedrooms 39.64
4 Bedrooms 11.83
5 or more bedrooms 0.59

New Florence Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
PA*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
57.50% 2.71% 7 7
* 10 is highest