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 2,517, 1,164 total housing units (homes and apartments), and a median house value of $603,274, 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 34.94% of the borough's housing units. Other types of housing that are prevalent in New Hope include large apartment complexes or high rise apartments ( 24.86%), row houses and other attached homes ( 20.52%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 19.68%).
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 ( 28.29%). A lesser amount of the housing stock also hails from between 2000 and later ( 16.74%). There's also some housing in New Hope built between 1940-1969 ( 16.25%).
Vacant housing appears to be an issue in New Hope. Fully 18.49% 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.
Real estate appreciation rates in New Hope's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 0.87% during the period.
NeighborhoodScout's data show that during the latest twelve months, New Hope's appreciation rate, at 4.29%, has been at or slightly above the national average. In the latest quarter, New Hope's appreciation rate has been 1.12%, which annualizes to a rate of 4.55%.
Relative to Pennsylvania, our data show that New Hope's latest annual appreciation rate is higher than 80% of the other cities and towns in Pennsylvania.
|Time Period||Total Appreciation||Avg. Annual Rate||
2019 Q1 - 2019 Q2
Last 12 Months:
2018 Q2 - 2019 Q2
Last 2 Years:
2017 Q2 - 2019 Q2
Last 5 Years:
2014 Q2 - 2019 Q2
Last 10 Years:
2009 Q2 - 2019 Q2
2000 Q1 - 2019 Q2
|* 10 is highest|
|AGE OF New Hope HOMES|
|2000 or Newer||16.7|
|1970 - 1999||38.7|
|1940 - 1969||16.2|
|1939 or Older||28.3|
|TYPE OF New Hope HOMES|
|Small Apt. Buildings||19.7|
|SIZE OF New Hope HOMES|
|5 or more bedrooms||6.51|