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 12,713 people, 5,842 houses or apartments, and a median cost of homes of $86,645, house prices in New Kensington are some of the most affordable in Pennsylvania as well as the nation.
Single-family detached homes are the single most common housing type in New Kensington, accounting for 68.62% of the city's housing units. Other types of housing that are prevalent in New Kensington include large apartment complexes or high rise apartments ( 15.24%), duplexes, homes converted to apartments or other small apartment buildings ( 11.62%), and a few row houses and other attached homes ( 3.53%).
The most prevalent building size and type in New Kensington are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 59.47% owning and 40.53% renting.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. New Kensington's housing was primarily built during this period, from the '40s through the '60s. A full 56.32% of the city's housing hails from this era. Other housing ages represented in New Kensington include homes built before 1939 ( 25.48%) and housing constructed between 1970-1999 ( 14.99%). There's also some housing in New Kensington built between 2000 and later ( 3.22%).
Vacant housing appears to be an issue in New Kensington. Fully 12.19% of the housing stock is classified as vacant. Left unchecked, vacant New Kensington homes and apartments can be a drag on the real estate market, holding New Kensington 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.
Appreciation rates for homes in New Kensington have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 5.52%, which ranks in the top 40% nationwide. This equates to an annual average New Kensington house appreciation rate of 0.54%.
Over the last year, New Kensington appreciation rates have trailed the rest of the nation. In the last twelve months, New Kensington's appreciation rate has been 1.28%, 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 Kensington were at -0.41%, which equates to an annual appreciation rate of -1.65%.
Relative to Pennsylvania, our data show that New Kensington's latest annual appreciation rate is lower than 70% 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 city. Individual neighborhoods within New Kensington differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in New Kensington - 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 New Kensington real estate investment or home purchase decisions.
|$806,001 - $1,075,000||0.4|
|$537,001 - $806,000||0.0|
|$430,001 - $537,000||0.6|
|$322,001 - $430,000||1.2|
|$215,001 - $322,000||5.6|
|$108,001 - $215,000||29.5|
|$54,001 - $108,000||43.4|
|$0 - $54,000||19.3|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF New Kensington HOMES|
|2000 or Newer||3.2|
|1970 - 1999||15.0|
|1940 - 1969||56.3|
|1939 or Older||25.5|
|TYPE OF New Kensington HOMES|
|Small Apt. Buildings||11.6|
|SIZE OF New Kensington HOMES|
|5 or more bedrooms||3.02|