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 2,142, 819 total housing units (homes and apartments), and a median house value of $110,576, house prices in Pine Grove are solidly below the national average.
Single-family detached homes are the single most common housing type in Pine Grove, accounting for 41.49% of the borough's housing units. Other types of housing that are prevalent in Pine Grove include row houses and other attached homes ( 25.79%), duplexes, homes converted to apartments or other small apartment buildings ( 20.80%), and a few large apartment complexes or high rise apartments ( 10.70%).
The most prevalent building size and type in Pine Grove are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 58.49% owning and 41.51% renting.
The housing in Pine Grove was primarily built before 1939 ( 51.07%), making the housing stock in Pine Grove some of the oldest overall in America, although there is a range of ages of homes in Pine Grove. The next most important housing age is between 1940-1969 ( 32.42%), followed by between 1970-1999 ( 12.33%). There's also some housing in Pine Grove built between 2000 and later ( 4.18%).
Vacant housing appears to be an issue in Pine Grove. Fully 16.51% of the housing stock is classified as vacant. Left unchecked, vacant Pine Grove homes and apartments can be a drag on the real estate market, holding Pine Grove 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.
In the last 10 years, Pine Grove has experienced some of the highest home appreciation rates of any community in the nation. Pine Grove real estate appreciated 18.53% over the last ten years, which is an average annual home appreciation rate of 1.71%, putting Pine Grove in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Pine Grove definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Over the last year, Pine Grove appreciation rates have trailed the rest of the nation. In the last twelve months, Pine Grove's appreciation rate has been 2.22%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Pine Grove were at -1.59%, which equates to an annual appreciation rate of -6.20%.
Notably, Pine Grove's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Pennsylvania, our data show that Pine Grove's latest annual appreciation rate is higher than 50% of the other cities and towns in Pennsylvania.
|$789,001 - $1,051,000||0.0|
|$526,001 - $789,000||0.0|
|$421,001 - $526,000||1.0|
|$315,001 - $421,000||0.9|
|$211,001 - $315,000||8.5|
|$105,001 - $211,000||41.8|
|$53,001 - $105,000||36.6|
|$0 - $53,000||11.3|
|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 Pine Grove HOMES|
|2000 or Newer||4.2|
|1970 - 1999||12.3|
|1940 - 1969||32.4|
|1939 or Older||51.1|
|TYPE OF Pine Grove HOMES|
|Small Apt. Buildings||20.8|
|SIZE OF Pine Grove HOMES|
|5 or more bedrooms||2.34|