Pine Grove, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Pine Grove Neighborhoods Since 2000




Pine Grove, 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

Pine Grove Housing Market Information

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.

Pine Grove Home Appreciation Rates

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.

Average Home Values

 

Median Home Value:
$110,576

Pine Grove, PA HOME PRICES

Value Range
> $1,051,000 0.0
$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

Low for PA
Low for Nation

Value Relative to Nation Value Relative to State
71.0594163834525 68.695652173913

Number Of Homes And Apartments:
819

Pine Grove 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
63.21% 2.88% 9 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$794 / per month

Homeownership Rate

Homeownership
Owners 58.49
Renters 41.51
Vacant 16.51

Housing Market Details

 

Age of Homes

AGE OF Pine Grove HOMES
2000 or Newer 4.2
1970 - 1999 12.3
1940 - 1969 32.4
1939 or Older 51.1

Types of Homes

TYPE OF Pine Grove HOMES
Single-Family 41.5
Townhomes 25.8
Small Apt. Buildings 20.8
Apt. Complexes 10.7
Mobile Homes 1.2
Other 0.0

Home Size

SIZE OF Pine Grove HOMES
No Bedroom 5.91
1 Bedroom 9.28
2 Bedrooms 24.36
3 Bedrooms 45.87
4 Bedrooms 12.23
5 or more bedrooms 2.34