Portage, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Portage Neighborhoods Since 2000




Portage, 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

Portage Housing Market Information

With 2,508 people, 1,105 houses or apartments, and a median cost of homes of $76,296, house prices in Portage 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 Portage, accounting for 74.92% of the borough's housing units. Other types of housing that are prevalent in Portage include duplexes, homes converted to apartments or other small apartment buildings ( 10.59%), mobile homes or trailers ( 5.49%), and a few large apartment complexes or high rise apartments ( 4.70%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Portage. Owner-occupied housing accounts for 67.79% of Portage's homes, and 56.53% have either three or four bedrooms, which is average sized relative to America.

The housing in Portage was primarily built before 1939 ( 45.94%), making the housing stock in Portage some of the oldest overall in America, although there is a range of ages of homes in Portage. The next most important housing age is between 1940-1969 ( 33.36%), followed by between 1970-1999 ( 18.79%). There's also some housing in Portage built between 2000 and later ( 1.91%).

Vacant housing appears to be an issue in Portage. Fully 12.02% of the housing stock is classified as vacant. Left unchecked, vacant Portage homes and apartments can be a drag on the real estate market, holding Portage 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.

Portage Home Appreciation Rates

Appreciation rates for homes in Portage have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 6.52%, which ranks in the top 40% nationwide. This equates to an annual average Portage house appreciation rate of 0.63%.

Over the last year, Portage appreciation rates have trailed the rest of the nation. In the last twelve months, Portage's appreciation rate has been -4.33%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Portage were at 4.18%, which equates to an annual appreciation rate of 17.80%.

Importantly, this makes Portage 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 Portage's latest annual appreciation rate is lower than 90% of the other cities and towns in Pennsylvania.

Average Home Values

 

Median Home Value:
$76,296

Portage, PA HOME PRICES

Value Range
> $1,028,000 0.0
$771,001 - $1,028,000 0.7
$514,001 - $771,000 0.0
$411,001 - $514,000 0.0
$308,001 - $411,000 0.4
$205,001 - $308,000 3.0
$103,001 - $205,000 22.8
$51,001 - $103,000 45.3
$0 - $51,000 27.7

Very Low for PA
Very Low for Nation

Value Relative to Nation Value Relative to State
92.5583030587132 90.4347826086957

Number Of Homes And Apartments:
1,105

Portage 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
46.23% 2.23% 6 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$610 / per month

Homeownership Rate

Homeownership
Owners 67.79
Renters 32.21
Vacant 12.02

Housing Market Details

 

Age of Homes

AGE OF Portage HOMES
2000 or Newer 1.9
1970 - 1999 18.8
1940 - 1969 33.4
1939 or Older 45.9

Types of Homes

TYPE OF Portage HOMES
Single-Family 74.9
Townhomes 4.3
Small Apt. Buildings 10.6
Apt. Complexes 4.7
Mobile Homes 5.5
Other 0.0

Home Size

SIZE OF Portage HOMES
No Bedroom 0.40
1 Bedroom 9.47
2 Bedrooms 30.25
3 Bedrooms 42.20
4 Bedrooms 14.33
5 or more bedrooms 3.34

Popular Neighborhoods in Portage

Zip Codes in Portage, PA