New Hope, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating New Hope Neighborhoods Since 2000




New Hope, 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

New Hope Housing Market Information

With a population of 2,510, 1,175 total housing units (homes and apartments), and a median house value of $559,217, New Hope house prices are not only among the most expensive in Pennsylvania, New Hope real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in New Hope, accounting for 41.79% of the borough's housing units. Other types of housing that are prevalent in New Hope include row houses and other attached homes ( 23.09%), large apartment complexes or high rise apartments ( 18.62%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 16.50%).

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

There is a lot of housing in New Hope built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in New Hope built before 1939 ( 29.33%). A lesser amount of the housing stock also hails from between 1940-1969 ( 16.06%). There's also some housing in New Hope built between 2000 and later ( 13.56%).

Vacant housing appears to be an issue in New Hope. Fully 13.86% of the housing stock is classified as vacant. Left unchecked, vacant New Hope homes and apartments can be a drag on the real estate market, holding New Hope 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.

New Hope Home Appreciation Rates

New Hope's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in New Hope during the period has been just -0.98%, which is lower than 70% of US communities.

Over the last year, New Hope appreciation rates have trailed the rest of the nation. In the last twelve months, New Hope's appreciation rate has been -1.87%, 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 Hope were at 0.08%, which equates to an annual appreciation rate of 0.32%.

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

Average Home Values

 

Median Home Value:
$559,217

New Hope 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
46.65% 2.24% 6 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,650 / per month

Homeownership Rate

Homeownership
Owners 62.04
Renters 37.96
Vacant 13.86

Housing Market Details

 

Age of Homes

AGE OF New Hope HOMES
2000 or Newer 13.6
1970 - 1999 41.1
1940 - 1969 16.1
1939 or Older 29.3

Types of Homes

TYPE OF New Hope HOMES
Single-Family 41.8
Townhomes 23.1
Small Apt. Buildings 16.5
Apt. Complexes 18.6
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF New Hope HOMES
No Bedroom 1.98
1 Bedroom 19.35
2 Bedrooms 29.25
3 Bedrooms 22.65
4 Bedrooms 18.77
5 or more bedrooms 7.99