Steelton, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Steelton Neighborhoods Since 2000




Steelton, 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

Steelton Housing Market Information

With 5,932 people, 2,068 houses or apartments, and a median cost of homes of $90,697, house prices in Steelton are some of the most affordable in Pennsylvania as well as the nation.

Row houses and other attached homes are the single most common housing type in Steelton, accounting for 37.95% of the borough's housing units. Other types of housing that are prevalent in Steelton include single-family detached homes ( 31.50%), duplexes, homes converted to apartments or other small apartment buildings ( 16.86%), and a few large apartment complexes or high rise apartments ( 13.53%). Boroughs that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of boroughs are often walkable and compact, and often have a lively downtown.

The most prevalent building size and type in Steelton are three and four bedroom dwellings, chiefly found in row houses and other attached homes. The borough has a mixture of owners and renters, with 48.07% owning and 51.93% renting.

The housing in Steelton was primarily built before 1939 ( 58.26%), making the housing stock in Steelton some of the oldest overall in America, although there is a range of ages of homes in Steelton. The next most important housing age is between 1940-1969 ( 22.53%), followed by between 1970-1999 ( 16.74%). There's also some housing in Steelton built between 2000 and later ( 2.47%).

Vacant housing appears to be an issue in Steelton. Fully 14.97% of the housing stock is classified as vacant. Left unchecked, vacant Steelton homes and apartments can be a drag on the real estate market, holding Steelton 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.

Steelton Home Appreciation Rates

Steelton's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Steelton during the period has been just -1.03%, which is lower than 70% of US communities.

Over the last year, Steelton appreciation rates have trailed the rest of the nation. In the last twelve months, Steelton's appreciation rate has been 1.96%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Steelton were at -0.92%, which equates to an annual appreciation rate of -3.65%.

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

Relative to Pennsylvania, our data show that Steelton's latest annual appreciation rate is lower than 50% of the other cities and towns in Pennsylvania.

Average Home Values

 

Median Home Value:
$90,697

Steelton, PA HOME PRICES

Value Range
> $1,023,000 0.0
$768,001 - $1,023,000 0.0
$511,001 - $768,000 0.0
$409,001 - $511,000 0.0
$307,001 - $409,000 0.0
$205,001 - $307,000 1.7
$102,001 - $205,000 35.9
$51,001 - $102,000 51.9
$0 - $51,000 10.5

Very Low for PA
Very Low for Nation

Value Relative to Nation Value Relative to State
83.5227938591351 82.2222222222222

Number Of Homes And Apartments:
2,068

Steelton 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
15.55% 0.84% 1 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,074 / per month

Homeownership Rate

Homeownership
Owners 48.07
Renters 51.93
Vacant 14.97

Housing Market Details

 

Age of Homes

AGE OF Steelton HOMES
2000 or Newer 2.5
1970 - 1999 16.7
1940 - 1969 22.5
1939 or Older 58.3

Types of Homes

TYPE OF Steelton HOMES
Single-Family 31.5
Townhomes 38.0
Small Apt. Buildings 16.9
Apt. Complexes 13.5
Mobile Homes 0.2
Other 0.0

Home Size

SIZE OF Steelton HOMES
No Bedroom 1.85
1 Bedroom 14.97
2 Bedrooms 19.98
3 Bedrooms 45.97
4 Bedrooms 13.08
5 or more bedrooms 4.15