Sharpsville, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Sharpsville, 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

Sharpsville Housing Market Information

With a population of 4,271, 1,812 total housing units (homes and apartments), and a median house value of $101,963, house prices in Sharpsville are solidly below the national average.

Single-family detached homes are the single most common housing type in Sharpsville, accounting for 75.15% of the borough's housing units. Other types of housing that are prevalent in Sharpsville include large apartment complexes or high rise apartments ( 19.07%), duplexes, homes converted to apartments or other small apartment buildings ( 4.72%), and a few row houses and other attached homes ( 1.05%).

The most prevalent building size and type in Sharpsville are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 63.12% owning and 36.88% 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. Sharpsville's housing was primarily built during this period, from the '40s through the '60s. A full 52.69% of the borough's housing hails from this era. Other housing ages represented in Sharpsville include homes built before 1939 ( 31.00%) and housing constructed between 1970-1999 ( 16.31%).

Vacant housing appears to be an issue in Sharpsville. Fully 13.59% of the housing stock is classified as vacant. Left unchecked, vacant Sharpsville homes and apartments can be a drag on the real estate market, holding Sharpsville 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.

Sharpsville Home Appreciation Rates

Real estate appreciation rates in Sharpsville's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.09% during the period.

Over the last year, Sharpsville appreciation rates have trailed the rest of the nation. In the last twelve months, Sharpsville's appreciation rate has been 1.30%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Sharpsville were at 2.15%, which equates to an annual appreciation rate of 8.89%.

Importantly, this makes Sharpsville 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 Sharpsville's latest annual appreciation rate is lower than 60% of the other cities and towns in Pennsylvania.

Average Home Values

 

Median Home Value:
$101,963

Sharpsville, PA HOME PRICES

Value Range
> $1,037,000 0.0
$778,001 - $1,037,000 0.0
$518,001 - $778,000 0.0
$415,001 - $518,000 0.0
$311,001 - $415,000 0.6
$208,001 - $311,000 2.8
$104,001 - $208,000 29.6
$52,001 - $104,000 53.6
$0 - $52,000 13.3

Low for PA
Low for Nation

Value Relative to Nation Value Relative to State
76.3447790929333 75.0724637681159

Number Of Homes And Apartments:
1,812

Sharpsville 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
13.68% 0.75% 1 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$990 / per month

Homeownership Rate

Homeownership
Owners 63.12
Renters 36.88
Vacant 13.59

Housing Market Details

 

Age of Homes

AGE OF Sharpsville HOMES
2000 or Newer 0.0
1970 - 1999 16.3
1940 - 1969 52.7
1939 or Older 31.0

Types of Homes

TYPE OF Sharpsville HOMES
Single-Family 75.2
Townhomes 1.0
Small Apt. Buildings 4.7
Apt. Complexes 19.1
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Sharpsville HOMES
No Bedroom 0.00
1 Bedroom 10.63
2 Bedrooms 29.80
3 Bedrooms 48.21
4 Bedrooms 9.73
5 or more bedrooms 1.62

Popular Neighborhoods in Sharpsville

Zip Codes in Sharpsville, PA