New Kensington, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating New Kensington Neighborhoods Since 2000




New Kensington, 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 Kensington Housing Market Information

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.

New Kensington Home Appreciation Rates

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.

Average Home Values

 

Median Home Value:
$86,645

New Kensington, PA HOME PRICES

Value Range
> $1,075,000 0.0
$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

Very Low for PA
Very Low for Nation

Value Relative to Nation Value Relative to State
86.364701746162 84.7342995169082

Number Of Homes And Apartments:
5,842

New Kensington 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
29.73% 1.52% 2 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$754 / per month

Homeownership Rate

Homeownership
Owners 59.47
Renters 40.53
Vacant 12.19

Housing Market Details

 

Age of Homes

AGE OF New Kensington HOMES
2000 or Newer 3.2
1970 - 1999 15.0
1940 - 1969 56.3
1939 or Older 25.5

Types of Homes

TYPE OF New Kensington HOMES
Single-Family 68.6
Townhomes 3.5
Small Apt. Buildings 11.6
Apt. Complexes 15.2
Mobile Homes 1.0
Other 0.0

Home Size

SIZE OF New Kensington HOMES
No Bedroom 0.98
1 Bedroom 16.50
2 Bedrooms 27.07
3 Bedrooms 39.85
4 Bedrooms 12.58
5 or more bedrooms 3.02