Sharon, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Sharon Neighborhoods Since 2000




Sharon, 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

Sharon Housing Market Information

With a population of 13,562, 5,995 total housing units (homes and apartments), and a median house value of $60,372, house prices in Sharon 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 Sharon, accounting for 67.63% of the city's housing units. Other types of housing that are prevalent in Sharon include large apartment complexes or high rise apartments ( 17.69%), duplexes, homes converted to apartments or other small apartment buildings ( 10.12%), and a few row houses and other attached homes ( 3.49%).

The most prevalent building size and type in Sharon are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 53.87% owning and 46.13% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Sharon's housing was primarily built during this period, from the '40s through the '60s. A full 46.14% of the city's housing hails from this era. Other housing ages represented in Sharon include homes built before 1939 ( 39.54%) and housing constructed between 1970-1999 ( 13.64%).

Vacant housing appears to be an issue in Sharon. Fully 19.22% of the housing stock is classified as vacant. Left unchecked, vacant Sharon homes and apartments can be a drag on the real estate market, holding Sharon 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.

Sharon Home Appreciation Rates

Real estate appreciation rates in Sharon's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.24% during the period.

NeighborhoodScout's data show that during the latest twelve months, Sharon's appreciation rate, at 5.29%, has been at or slightly above the national average. In the latest quarter, Sharon's appreciation rate has been 2.15%, which annualizes to a rate of 8.89%.

Importantly, this makes Sharon 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 Sharon's latest annual appreciation rate is higher than 80% 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 Sharon differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Sharon - 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 Sharon real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$60,372

Sharon, PA HOME PRICES

Value Range
> $1,055,000 0.8
$791,001 - $1,055,000 0.0
$527,001 - $791,000 0.3
$422,001 - $527,000 0.5
$317,001 - $422,000 0.2
$211,001 - $317,000 1.8
$105,001 - $211,000 13.7
$53,001 - $105,000 36.8
$0 - $53,000 45.8

Very Low for PA
Very Low for Nation

Value Relative to Nation Value Relative to State
97.9725770537912 96.7149758454106

Number Of Homes And Apartments:
5,995

Sharon 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
6.28% 0.35% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$773 / per month

Homeownership Rate

Homeownership
Owners 53.87
Renters 46.13
Vacant 19.22

Housing Market Details

 

Age of Homes

AGE OF Sharon HOMES
2000 or Newer 0.7
1970 - 1999 13.6
1940 - 1969 46.1
1939 or Older 39.5

Types of Homes

TYPE OF Sharon HOMES
Single-Family 67.6
Townhomes 3.5
Small Apt. Buildings 10.1
Apt. Complexes 17.7
Mobile Homes 1.1
Other 0.0

Home Size

SIZE OF Sharon HOMES
No Bedroom 4.31
1 Bedroom 14.41
2 Bedrooms 26.44
3 Bedrooms 41.69
4 Bedrooms 11.14
5 or more bedrooms 2.01