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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 1,753 people, 749 houses or apartments, and a median cost of homes of $226,763, house prices in Tunkhannock are solidly below the national average.
Single-family detached homes are the single most common housing type in Tunkhannock, accounting for 65.97% of the borough's housing units. Other types of housing that are prevalent in Tunkhannock include duplexes, homes converted to apartments or other small apartment buildings ( 18.30%), large apartment complexes or high rise apartments ( 10.96%), and a few row houses and other attached homes ( 4.78%).
The most prevalent building size and type in Tunkhannock are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 53.15% owning and 46.85% renting.
The housing in Tunkhannock was primarily built before 1939 ( 60.49%), making the housing stock in Tunkhannock some of the oldest overall in America, although there is a range of ages of homes in Tunkhannock. The next most important housing age is between 1940-1969 ( 24.48%), followed by between 1970-1999 ( 15.04%).
Vacant housing appears to be an issue in Tunkhannock. Fully 12.70% of the housing stock is classified as vacant. Left unchecked, vacant Tunkhannock homes and apartments can be a drag on the real estate market, holding Tunkhannock 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.
Some of the lowest real estate appreciation rates in America over the last ten years have been in Tunkhannock, where house values have increased just 37.14%, which is annualized rate of 3.21%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Over the last year, Tunkhannock appreciation rates have trailed the rest of the nation. In the last twelve months, Tunkhannock's appreciation rate has been 3.76%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Tunkhannock were at 0.69%, which equates to an annual appreciation rate of 2.80%.
Relative to Pennsylvania, our data show that Tunkhannock's latest annual appreciation rate is lower than 90% of the other cities and towns in Pennsylvania.
$226,763
for Pennsylvania
for nation
749
$1,195 / per month