Shippensburg, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Shippensburg, PA Real Estate Data


Shippensburg Housing Market Information

With 5,559 people, 2,580 houses or apartments, and a median cost of homes of $162,920, 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 42.53% of the borough's housing units. Other types of housing that are prevalent in Shippensburg include large apartment complexes or high rise apartments ( 22.15%), row houses and other attached homes ( 19.25%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 14.08%).

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 ( 33.86%), 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 ( 30.89%), followed by between 1940-1969 ( 28.20%). There's also some housing in Shippensburg built between 2000 and later ( 7.04%).

Shippensburg Home Appreciation Rates

Real estate appreciation rates in Shippensburg'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, Shippensburg appreciation rates have trailed the rest of the nation. In the last twelve months, Shippensburg's appreciation rate has been 2.96%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Shippensburg were at 1.50%, which equates to an annual appreciation rate of 6.15%.

Relative to Pennsylvania, our data show that Shippensburg's latest annual appreciation rate is lower than 80% of the other cities and towns in Pennsylvania.

Average Home Values

 

Median Home Value:
$162,920

Shippensburg, PA HOME PRICES

Value Range
> $1,047,000 0.0
$785,001 - $1,047,000 0.0
$523,001 - $785,000 1.9
$419,001 - $523,000 0.0
$314,001 - $419,000 7.5
$209,001 - $314,000 17.2
$105,001 - $209,000 58.8
$52,001 - $105,000 9.5
$0 - $52,000 5.0

High for PA
Average for Nation

Value Relative to Nation Value Relative to State
45.6256953797505 39.6135265700483

Number Of Homes And Apartments:
2,580

Rent & Ownership

 

Average Market Rent:
$826 / per month

Homeownership Rate

Homeownership
Owners 34.68
Renters 65.32
Vacant 8.70

Housing Market Details

 

Age of Homes

AGE OF Shippensburg HOMES
2000 or Newer 7.0
1970 - 1999 30.9
1940 - 1969 28.2
1939 or Older 33.9

Types of Homes

TYPE OF Shippensburg HOMES
Single-Family 42.5
Townhomes 19.2
Small Apt. Buildings 14.1
Apt. Complexes 22.2
Mobile Homes 2.0
Other 0.0

Home Size

SIZE OF Shippensburg HOMES
No Bedroom 8.92
1 Bedroom 13.69
2 Bedrooms 26.08
3 Bedrooms 34.11
4 Bedrooms 15.00
5 or more bedrooms 2.19

Shippensburg 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
57.75% 2.72% 7 7
* 10 is highest

Zip Codes in Shippensburg, PA