Warren, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Warren, 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

Warren Housing Market Information

With a population of 9,334, 4,255 total housing units (homes and apartments), and a median house value of $91,548, house prices in Warren are some of the most affordable in Pennsylvania as well as the nation.

Single-family detached homes are the single most common housing type in Warren, accounting for 64.92% of the city's housing units. Other types of housing that are prevalent in Warren include duplexes, homes converted to apartments or other small apartment buildings ( 17.60%), large apartment complexes or high rise apartments ( 14.11%), and a few row houses and other attached homes ( 2.74%).

The most prevalent building size and type in Warren are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 56.35% owning and 43.65% renting.

The housing in Warren was primarily built before 1939 ( 58.67%), making the housing stock in Warren some of the oldest overall in America, although there is a range of ages of homes in Warren. The next most important housing age is between 1940-1969 ( 27.33%), followed by between 1970-1999 ( 10.12%). There's also some housing in Warren built between 2000 and later ( 3.89%).

Vacant housing appears to be an issue in Warren. Fully 11.04% of the housing stock is classified as vacant. Left unchecked, vacant Warren homes and apartments can be a drag on the real estate market, holding Warren 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.

Warren Home Appreciation Rates

In the last 10 years, Warren has experienced some of the highest home appreciation rates of any community in the nation. Warren real estate appreciated 15.74% over the last ten years, which is an average annual home appreciation rate of 1.47%, putting Warren in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Warren definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Warren's appreciation rate, at 4.02%, has been at or slightly above the national average. In the latest quarter, Warren's appreciation rate has been -1.59%, which annualizes to a rate of -6.20%.

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

Relative to Pennsylvania, our data show that Warren's latest annual appreciation rate is higher than 70% of the other cities and towns in Pennsylvania.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Warren differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Warren - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Warren real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$91,548

Warren, PA HOME PRICES

Value Range
> $1,057,000 0.4
$793,001 - $1,057,000 0.0
$529,001 - $793,000 0.4
$423,001 - $529,000 0.0
$317,001 - $423,000 0.4
$211,001 - $317,000 6.6
$106,001 - $211,000 22.0
$53,001 - $106,000 52.0
$0 - $53,000 18.3

Very Low for PA
Very Low for Nation

Value Relative to Nation Value Relative to State
82.9133950544943 81.5458937198068

Number Of Homes And Apartments:
4,255

Warren 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
33.72% 1.70% 3 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$741 / per month

Homeownership Rate

Homeownership
Owners 56.35
Renters 43.65
Vacant 11.04

Housing Market Details

 

Age of Homes

AGE OF Warren HOMES
2000 or Newer 3.9
1970 - 1999 10.1
1940 - 1969 27.3
1939 or Older 58.7

Types of Homes

TYPE OF Warren HOMES
Single-Family 64.9
Townhomes 2.7
Small Apt. Buildings 17.6
Apt. Complexes 14.1
Mobile Homes 0.6
Other 0.0

Home Size

SIZE OF Warren HOMES
No Bedroom 3.28
1 Bedroom 14.72
2 Bedrooms 26.55
3 Bedrooms 38.76
4 Bedrooms 15.01
5 or more bedrooms 1.67