Pittston, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Pittston Neighborhoods Since 2000




Pittston, 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

Pittston Housing Market Information

With 7,651 people, 3,391 houses or apartments, and a median cost of homes of $86,361, house prices in Pittston 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 Pittston, accounting for 50.52% of the city's housing units. Other types of housing that are prevalent in Pittston include duplexes, homes converted to apartments or other small apartment buildings ( 22.01%), row houses and other attached homes ( 17.89%), and a few large apartment complexes or high rise apartments ( 9.32%).

The most prevalent building size and type in Pittston are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 57.69% owning and 42.31% renting.

The housing in Pittston was primarily built before 1939 ( 53.31%), making the housing stock in Pittston some of the oldest overall in America, although there is a range of ages of homes in Pittston. The next most important housing age is between 1940-1969 ( 31.15%), followed by between 1970-1999 ( 14.61%).

Vacant housing appears to be an issue in Pittston. Fully 13.21% of the housing stock is classified as vacant. Left unchecked, vacant Pittston homes and apartments can be a drag on the real estate market, holding Pittston 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.

Pittston Home Appreciation Rates

Pittston's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Pittston during the period has been just -1.69%, which is lower than 80% of US communities.

Over the last year, Pittston appreciation rates have trailed the rest of the nation. In the last twelve months, Pittston's appreciation rate has been 2.16%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Pittston were at 2.13%, which equates to an annual appreciation rate of 8.80%.

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

Relative to Pennsylvania, our data show that Pittston's latest annual appreciation rate is lower than 50% 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 Pittston differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Pittston - 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 Pittston real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$86,361

Pittston, PA HOME PRICES

Value Range
> $966,000 1.3
$725,001 - $966,000 0.0
$483,001 - $725,000 0.0
$386,001 - $483,000 0.3
$290,001 - $386,000 0.9
$193,001 - $290,000 4.0
$96,001 - $193,000 32.8
$49,001 - $96,000 50.4
$0 - $49,000 10.4

Very Low for PA
Very Low for Nation

Value Relative to Nation Value Relative to State
86.5404898628853 84.8309178743961

Number Of Homes And Apartments:
3,391

Pittston 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
6.84% 0.38% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$769 / per month

Homeownership Rate

Homeownership
Owners 57.69
Renters 42.31
Vacant 13.21

Housing Market Details

 

Age of Homes

AGE OF Pittston HOMES
2000 or Newer 0.9
1970 - 1999 14.6
1940 - 1969 31.1
1939 or Older 53.3

Types of Homes

TYPE OF Pittston HOMES
Single-Family 50.5
Townhomes 17.9
Small Apt. Buildings 22.0
Apt. Complexes 9.3
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF Pittston HOMES
No Bedroom 4.56
1 Bedroom 12.82
2 Bedrooms 23.60
3 Bedrooms 44.02
4 Bedrooms 11.49
5 or more bedrooms 3.51