Shippensburg, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Shippensburg Neighborhoods Since 2000




Shippensburg, 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

Shippensburg Housing Market Information

With a population of 5,559, 2,655 total housing units (homes and apartments), and a median house value of $155,395, Shippensburg real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Shippensburg, accounting for 40.61% of the borough's housing units. Other types of housing that are prevalent in Shippensburg include large apartment complexes or high rise apartments ( 21.60%), row houses and other attached homes ( 20.81%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 15.11%).

Renters dominate Shippensburg's housing market, and most live in three of four bedroom dwellings, chiefly found in single-family detached homes.

The housing in Shippensburg was primarily built before 1939 ( 35.13%), making the housing stock in Shippensburg some of the oldest overall in America, although there is a range of ages of homes in Shippensburg. The next most important housing age is between 1970-1999 ( 28.74%), followed by between 1940-1969 ( 27.61%). There's also some housing in Shippensburg built between 2000 and later ( 8.52%).

Shippensburg Home Appreciation Rates

Shippensburg's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Shippensburg during the period has been just -0.87%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Shippensburg's appreciation rate, at 3.41%, has been at or slightly above the national average. In the latest quarter, Shippensburg's appreciation rate has been -0.64%, which annualizes to a rate of -2.54%.

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

Relative to Pennsylvania, our data show that Shippensburg's latest annual appreciation rate is higher than 70% of the other cities and towns in Pennsylvania.

Average Home Values

 

Median Home Value:
$155,395

Shippensburg, PA HOME PRICES

Value Range
> $1,025,000 0.1
$769,001 - $1,025,000 0.0
$512,001 - $769,000 1.7
$410,001 - $512,000 3.5
$307,001 - $410,000 9.0
$205,001 - $307,000 11.7
$102,001 - $205,000 55.5
$51,001 - $102,000 12.7
$0 - $51,000 5.8

Average for PA
Average for Nation

Value Relative to Nation Value Relative to State
47.7440525020509 42.0289855072464

Number Of Homes And Apartments:
2,655

Shippensburg 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
44.63% 2.16% 5 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$905 / per month

Homeownership Rate

Homeownership
Owners 32.37
Renters 67.63
Vacant 8.39

Housing Market Details

 

Age of Homes

AGE OF Shippensburg HOMES
2000 or Newer 8.5
1970 - 1999 28.7
1940 - 1969 27.6
1939 or Older 35.1

Types of Homes

TYPE OF Shippensburg HOMES
Single-Family 40.6
Townhomes 20.8
Small Apt. Buildings 15.1
Apt. Complexes 21.6
Mobile Homes 1.9
Other 0.0

Home Size

SIZE OF Shippensburg HOMES
No Bedroom 11.49
1 Bedroom 13.01
2 Bedrooms 23.64
3 Bedrooms 34.92
4 Bedrooms 15.36
5 or more bedrooms 1.59

Zip Codes in Shippensburg, PA