Old Forge, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Old Forge Neighborhoods Since 2000




Old Forge, 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

Old Forge Housing Market Information

With a population of 8,048, 3,746 total housing units (homes and apartments), and a median house value of $147,104, Old Forge real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Old Forge, accounting for 68.10% of the borough's housing units. Other types of housing that are prevalent in Old Forge include duplexes, homes converted to apartments or other small apartment buildings ( 19.08%), row houses and other attached homes ( 9.32%), and a few large apartment complexes or high rise apartments ( 2.45%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Old Forge. Owner-occupied housing accounts for 68.89% of Old Forge's homes, and 53.69% have either three or four bedrooms, which is average sized relative to America.

The housing in Old Forge was primarily built before 1939 ( 33.73%), making the housing stock in Old Forge some of the oldest overall in America, although there is a range of ages of homes in Old Forge. The next most important housing age is between 1940-1969 ( 33.01%), followed by between 1970-1999 ( 28.98%). There's also some housing in Old Forge built between 2000 and later ( 4.27%).

Old Forge Home Appreciation Rates

Real estate appreciation rates in Old Forge's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.56% during the period.

Over the last year, Old Forge appreciation rates have trailed the rest of the nation. In the last twelve months, Old Forge's appreciation rate has been -0.02%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Old Forge were at 2.13%, which equates to an annual appreciation rate of 8.80%.

Importantly, this makes Old Forge one of the highest appreciating communities in the nation for the latest quarter, and may signal the borough's near-future real estate investment strength.

Relative to Pennsylvania, our data show that Old Forge's latest annual appreciation rate is lower than 80% of the other cities and towns in Pennsylvania.

Average Home Values

 

Median Home Value:
$147,104

Old Forge, PA HOME PRICES

Value Range
> $1,024,000 0.0
$768,001 - $1,024,000 0.0
$512,001 - $768,000 1.1
$410,001 - $512,000 0.5
$307,001 - $410,000 1.5
$205,001 - $307,000 20.8
$102,001 - $205,000 45.1
$51,001 - $102,000 22.4
$0 - $51,000 8.6

Average for PA
Average for Nation

Value Relative to Nation Value Relative to State
51.2480956287355 46.3768115942029

Number Of Homes And Apartments:
3,746

Old Forge 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
34.35% 1.73% 3 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$872 / per month

Homeownership Rate

Homeownership
Owners 68.89
Renters 31.11
Vacant 7.44

Housing Market Details

 

Age of Homes

AGE OF Old Forge HOMES
2000 or Newer 4.3
1970 - 1999 29.0
1940 - 1969 33.0
1939 or Older 33.7

Types of Homes

TYPE OF Old Forge HOMES
Single-Family 68.1
Townhomes 9.3
Small Apt. Buildings 19.1
Apt. Complexes 2.4
Mobile Homes 1.1
Other 0.0

Home Size

SIZE OF Old Forge HOMES
No Bedroom 1.43
1 Bedroom 8.20
2 Bedrooms 33.95
3 Bedrooms 44.28
4 Bedrooms 9.41
5 or more bedrooms 2.72

Popular Neighborhoods in Old Forge

Zip Codes in Old Forge, PA