Verona, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Verona Neighborhoods Since 2000




Verona, 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

Verona Housing Market Information

With 2,442 people, 1,150 houses or apartments, and a median cost of homes of $93,960, house prices in Verona are solidly below the national average.

Single-family detached homes are the single most common housing type in Verona, accounting for 52.14% of the borough's housing units. Other types of housing that are prevalent in Verona include duplexes, homes converted to apartments or other small apartment buildings ( 24.76%), large apartment complexes or high rise apartments ( 15.63%), and a few row houses and other attached homes ( 7.46%).

People in Verona primarily live in small (one, two or no bedroom) single-family detached homes. Verona has a mixture of owner-occupied and renter-occupied housing.

The housing in Verona was primarily built before 1939 ( 41.98%), making the housing stock in Verona some of the oldest overall in America, although there is a range of ages of homes in Verona. The next most important housing age is between 1940-1969 ( 35.08%), followed by between 1970-1999 ( 22.94%).

Verona Home Appreciation Rates

Appreciation rates for homes in Verona have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 14.11%, which ranks in the top 30% nationwide. This equates to an annual average Verona house appreciation rate of 1.33%.

Appreciation rates are so strong in Verona that despite a nationwide downturn in the housing market, Verona real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Verona appreciation rates continue to be some of the highest in America, at 6.72%, which is higher than appreciation rates in 79.40% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Verona. Verona appreciation rates in the latest quarter were at -0.41%, which equates to an annual appreciation rate of -1.65%.

Relative to Pennsylvania, our data show that Verona's latest annual appreciation rate is higher than 90% of the other cities and towns in Pennsylvania.

Average Home Values

 

Median Home Value:
$93,960

Verona, PA HOME PRICES

Value Range
> $1,149,000 0.0
$862,001 - $1,149,000 0.0
$574,001 - $862,000 0.0
$460,001 - $574,000 0.0
$344,001 - $460,000 1.5
$230,001 - $344,000 3.9
$115,001 - $230,000 21.3
$58,001 - $115,000 65.1
$0 - $58,000 8.2

Low for PA
Very Low for Nation

Value Relative to Nation Value Relative to State
81.3898980428923 79.7101449275362

Number Of Homes And Apartments:
1,150

Verona 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
32.31% 1.64% 3 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$772 / per month

Homeownership Rate

Homeownership
Owners 43.83
Renters 56.17
Vacant 8.73

Housing Market Details

 

Age of Homes

AGE OF Verona HOMES
2000 or Newer 0.0
1970 - 1999 22.9
1940 - 1969 35.1
1939 or Older 42.0

Types of Homes

TYPE OF Verona HOMES
Single-Family 52.1
Townhomes 7.5
Small Apt. Buildings 24.8
Apt. Complexes 15.6
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Verona HOMES
No Bedroom 6.59
1 Bedroom 18.65
2 Bedrooms 33.97
3 Bedrooms 29.52
4 Bedrooms 10.63
5 or more bedrooms 0.63