Roaring Spring, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Roaring Spring, PA Real Estate Data


Roaring Spring Housing Market Information

With a population of 2,537, 1,058 total housing units (homes and apartments), and a median house value of $111,129, house prices in Roaring Spring are solidly below the national average.

Single-family detached homes are the single most common housing type in Roaring Spring, accounting for 71.82% of the borough's housing units. Other types of housing that are prevalent in Roaring Spring include duplexes, homes converted to apartments or other small apartment buildings ( 17.73%), large apartment complexes or high rise apartments ( 5.18%), and a few row houses and other attached homes ( 3.25%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Roaring Spring. Owner-occupied housing accounts for 72.35% of Roaring Spring's homes, and 57.86% have either three or four bedrooms, which is average sized relative to America.

The housing in Roaring Spring was primarily built before 1939 ( 50.04%), making the housing stock in Roaring Spring some of the oldest overall in America, although there is a range of ages of homes in Roaring Spring. The next most important housing age is between 1940-1969 ( 36.70%), followed by between 1970-1999 ( 12.82%).

Roaring Spring Home Appreciation Rates

Appreciation rates for homes in Roaring Spring have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 17.27%, which ranks in the top 30% nationwide. This equates to an annual average Roaring Spring house appreciation rate of 1.61%.

Appreciation rates are so strong in Roaring Spring that despite a nationwide downturn in the housing market, Roaring Spring real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Roaring Spring appreciation rates continue to be some of the highest in America, at 6.22%, which is higher than appreciation rates in 77.06% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Roaring Spring. Roaring Spring appreciation rates in the latest quarter were at 2.82%, which equates to an annual appreciation rate of 11.75%.

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

Average Home Values

 

Median Home Value:
$111,129

Roaring Spring, PA HOME PRICES

Value Range
> $1,117,000 1.3
$838,001 - $1,117,000 0.0
$558,001 - $838,000 0.0
$447,001 - $558,000 0.0
$335,001 - $447,000 0.3
$223,001 - $335,000 4.2
$112,001 - $223,000 43.3
$56,001 - $112,000 46.0
$0 - $56,000 4.9

Low for PA
Low for Nation

Value Relative to Nation Value Relative to State
71.6694969842478 71.1111111111111

Number Of Homes And Apartments:
1,058

Rent & Ownership

 

Average Market Rent:
$545 / per month

Homeownership Rate

Homeownership
Owners 72.35
Renters 27.65
Vacant 7.11

Housing Market Details

 

Age of Homes

AGE OF Roaring Spring HOMES
2000 or Newer 0.4
1970 - 1999 12.8
1940 - 1969 36.7
1939 or Older 50.0

Types of Homes

TYPE OF Roaring Spring HOMES
Single-Family 71.8
Townhomes 3.2
Small Apt. Buildings 17.7
Apt. Complexes 5.2
Mobile Homes 2.0
Other 0.0

Home Size

SIZE OF Roaring Spring HOMES
No Bedroom 1.67
1 Bedroom 12.64
2 Bedrooms 24.76
3 Bedrooms 42.23
4 Bedrooms 15.63
5 or more bedrooms 3.07

Roaring Spring 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
54.02% 2.57% 7 7
* 10 is highest

Popular Neighborhoods in Roaring Spring

Zip Codes in Roaring Spring, PA