Ridgway, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Ridgway, PA Real Estate Data


Ridgway Housing Market Information

With 3,896 people, 1,822 houses or apartments, and a median cost of homes of $79,272, house prices in Ridgway 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 Ridgway, accounting for 74.76% of the borough's housing units. Other types of housing that are prevalent in Ridgway include duplexes, homes converted to apartments or other small apartment buildings ( 14.92%), large apartment complexes or high rise apartments ( 8.12%), and a few row houses and other attached homes ( 1.79%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Ridgway. Owner-occupied housing accounts for 68.55% of Ridgway's homes, and 65.56% have either three or four bedrooms, which is average sized relative to America.

The housing in Ridgway was primarily built before 1939 ( 55.39%), making the housing stock in Ridgway some of the oldest overall in America, although there is a range of ages of homes in Ridgway. The next most important housing age is between 1940-1969 ( 32.04%), followed by between 1970-1999 ( 11.75%).

Ridgway Home Appreciation Rates

Appreciation rates for homes in Ridgway have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 6.38%, which ranks in the top 50% nationwide. This equates to an annual average Ridgway house appreciation rate of 0.62%.

Over the last year, Ridgway appreciation rates have trailed the rest of the nation. In the last twelve months, Ridgway's appreciation rate has been 4.17%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Ridgway were at 2.15%, which equates to an annual appreciation rate of 8.89%.

Relative to Pennsylvania, our data show that Ridgway's latest annual appreciation rate is higher than 50% of the other cities and towns in Pennsylvania.

Average Home Values

 

Median Home Value:
$79,272

Ridgway, PA HOME PRICES

Value Range
> $1,064,000 1.1
$798,001 - $1,064,000 0.0
$532,001 - $798,000 0.7
$425,001 - $532,000 1.0
$319,001 - $425,000 0.5
$213,001 - $319,000 2.1
$106,001 - $213,000 21.0
$53,001 - $106,000 42.9
$0 - $53,000 30.7

Very Low for PA
Very Low for Nation

Value Relative to Nation Value Relative to State
91.6847221408913 90.9178743961353

Number Of Homes And Apartments:
1,822

Rent & Ownership

 

Average Market Rent:
$730 / per month

Homeownership Rate

Homeownership
Owners 68.55
Renters 31.45
Vacant 6.90

Housing Market Details

 

Age of Homes

AGE OF Ridgway HOMES
2000 or Newer 0.8
1970 - 1999 11.8
1940 - 1969 32.0
1939 or Older 55.4

Types of Homes

TYPE OF Ridgway HOMES
Single-Family 74.8
Townhomes 1.8
Small Apt. Buildings 14.9
Apt. Complexes 8.1
Mobile Homes 0.4
Other 0.0

Home Size

SIZE OF Ridgway HOMES
No Bedroom 0.41
1 Bedroom 11.34
2 Bedrooms 19.93
3 Bedrooms 47.68
4 Bedrooms 17.88
5 or more bedrooms 2.76

Ridgway Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
PA*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
38.59% 1.94% 3 4
* 10 is highest

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