Ridgway, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Ridgway Neighborhoods Since 2000




Ridgway, 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

Ridgway Housing Market Information

With 3,896 people, 1,851 houses or apartments, and a median cost of homes of $79,767, 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 73.59% 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 ( 15.51%), large apartment complexes or high rise apartments ( 10.16%).

The most prevalent building size and type in Ridgway are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 64.37% owning and 35.63% renting.

The housing in Ridgway was primarily built before 1939 ( 54.66%), 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 ( 31.32%), followed by between 1970-1999 ( 13.03%).

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 5.45%, which ranks in the top 40% nationwide. This equates to an annual average Ridgway house appreciation rate of 0.53%.

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 1.59%, 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 -1.59%, which equates to an annual appreciation rate of -6.20%.

Notably, Ridgway's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Pennsylvania, our data show that Ridgway's latest annual appreciation rate is lower than 60% of the other cities and towns in Pennsylvania.

Average Home Values

 

Median Home Value:
$79,767

Ridgway, PA HOME PRICES

Value Range
> $1,021,000 0.7
$766,001 - $1,021,000 0.0
$510,001 - $766,000 0.7
$409,001 - $510,000 1.6
$306,001 - $409,000 0.6
$204,001 - $306,000 3.7
$102,001 - $204,000 22.8
$51,001 - $102,000 37.6
$0 - $51,000 32.2

Very Low for PA
Very Low for Nation

Value Relative to Nation Value Relative to State
90.6773702097738 88.792270531401

Number Of Homes And Apartments:
1,851

Ridgway 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
38.79% 1.92% 4 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$628 / per month

Homeownership Rate

Homeownership
Owners 64.37
Renters 35.63
Vacant 8.28

Housing Market Details

 

Age of Homes

AGE OF Ridgway HOMES
2000 or Newer 1.0
1970 - 1999 13.0
1940 - 1969 31.3
1939 or Older 54.7

Types of Homes

TYPE OF Ridgway HOMES
Single-Family 73.6
Townhomes 0.2
Small Apt. Buildings 15.5
Apt. Complexes 10.2
Mobile Homes 0.5
Other 0.0

Home Size

SIZE OF Ridgway HOMES
No Bedroom 1.98
1 Bedroom 13.03
2 Bedrooms 16.25
3 Bedrooms 45.44
4 Bedrooms 18.48
5 or more bedrooms 4.81

Popular Neighborhoods in Ridgway

Popular Communities Near Ridgway, PA

Zip Codes in Ridgway, PA