Spring Grove, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Spring Grove Neighborhoods Since 2000




Spring Grove, 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

Spring Grove Housing Market Information

With 2,168 people, 880 houses or apartments, and a median cost of homes of $156,445, Spring Grove 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 Spring Grove, accounting for 49.04% of the borough's housing units. Other types of housing that are prevalent in Spring Grove include large apartment complexes or high rise apartments ( 20.90%), row houses and other attached homes ( 19.83%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 10.23%).

The most prevalent building size and type in Spring Grove are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 57.84% owning and 42.16% renting.

The housing in Spring Grove was primarily built before 1939 ( 34.33%), making the housing stock in Spring Grove some of the oldest overall in America, although there is a range of ages of homes in Spring Grove. The next most important housing age is between 1970-1999 ( 28.46%), followed by between 1940-1969 ( 23.24%). There's also some housing in Spring Grove built between 2000 and later ( 13.97%).

Spring Grove Home Appreciation Rates

Spring Grove's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Spring Grove during the period has been just -1.15%, which is lower than 70% of US communities.

Appreciation rates are so strong in Spring Grove that despite a nationwide downturn in the housing market, Spring Grove real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Spring Grove appreciation rates continue to be some of the highest in America, at 5.58%, which is higher than appreciation rates in 70.18% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Spring Grove. Spring Grove appreciation rates in the latest quarter were at 2.73%, which equates to an annual appreciation rate of 11.40%.

Importantly, this makes Spring Grove 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 Spring Grove's latest annual appreciation rate is higher than 80% of the other cities and towns in Pennsylvania.

Average Home Values

 

Median Home Value:
$156,445

Spring Grove, PA HOME PRICES

Value Range
> $1,066,000 0.0
$799,001 - $1,066,000 0.0
$532,001 - $799,000 0.0
$426,001 - $532,000 0.3
$320,001 - $426,000 3.1
$213,001 - $320,000 15.5
$106,001 - $213,000 61.3
$53,001 - $106,000 6.4
$0 - $53,000 13.4

Average for PA
Average for Nation

Value Relative to Nation Value Relative to State
47.2108285479902 41.256038647343

Number Of Homes And Apartments:
880

Spring Grove 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
35.85% 1.79% 3 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$934 / per month

Homeownership Rate

Homeownership
Owners 57.84
Renters 42.16
Vacant 6.18

Housing Market Details

 

Age of Homes

AGE OF Spring Grove HOMES
2000 or Newer 14.0
1970 - 1999 28.5
1940 - 1969 23.2
1939 or Older 34.3

Types of Homes

TYPE OF Spring Grove HOMES
Single-Family 49.0
Townhomes 19.8
Small Apt. Buildings 10.2
Apt. Complexes 20.9
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Spring Grove HOMES
No Bedroom 3.09
1 Bedroom 8.10
2 Bedrooms 31.34
3 Bedrooms 37.63
4 Bedrooms 15.99
5 or more bedrooms 3.84