Washington, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Washington Neighborhoods Since 2000




Washington, 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

Washington Housing Market Information

With a population of 13,497, 5,632 total housing units (homes and apartments), and a median house value of $102,058, house prices in Washington are solidly below the national average.

Single-family detached homes are the single most common housing type in Washington, accounting for 54.00% of the city's housing units. Other types of housing that are prevalent in Washington include duplexes, homes converted to apartments or other small apartment buildings ( 20.92%), large apartment complexes or high rise apartments ( 20.43%), and a few row houses and other attached homes ( 4.03%).

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

The housing in Washington was primarily built before 1939 ( 48.80%), making the housing stock in Washington some of the oldest overall in America, although there is a range of ages of homes in Washington. The next most important housing age is between 1940-1969 ( 34.40%), followed by between 1970-1999 ( 15.07%). There's also some housing in Washington built between 2000 and later ( 1.73%).

Vacant housing appears to be an issue in Washington. Fully 13.11% of the housing stock is classified as vacant. Left unchecked, vacant Washington homes and apartments can be a drag on the real estate market, holding Washington 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.

Washington Home Appreciation Rates

Appreciation rates for homes in Washington have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 6.85%, which ranks in the top 40% nationwide. This equates to an annual average Washington house appreciation rate of 0.66%.

Over the last year, Washington appreciation rates have trailed the rest of the nation. In the last twelve months, Washington's appreciation rate has been 0.36%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Washington were at -0.41%, which equates to an annual appreciation rate of -1.65%.

Relative to Pennsylvania, our data show that Washington's latest annual appreciation rate is lower 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 Washington differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Washington - 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 Washington real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$102,058

Washington, PA HOME PRICES

Value Range
> $1,059,000 0.6
$795,001 - $1,059,000 0.0
$529,001 - $795,000 0.5
$424,001 - $529,000 0.5
$318,001 - $424,000 1.2
$212,001 - $318,000 3.2
$106,001 - $212,000 38.2
$53,001 - $106,000 40.3
$0 - $53,000 15.5

Low for PA
Low for Nation

Value Relative to Nation Value Relative to State
76.2979022618071 74.8792270531401

Number Of Homes And Apartments:
5,632

Washington 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
39.46% 1.95% 4 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$829 / per month

Homeownership Rate

Homeownership
Owners 37.64
Renters 62.36
Vacant 13.11

Housing Market Details

 

Age of Homes

AGE OF Washington HOMES
2000 or Newer 1.7
1970 - 1999 15.1
1940 - 1969 34.4
1939 or Older 48.8

Types of Homes

TYPE OF Washington HOMES
Single-Family 54.0
Townhomes 4.0
Small Apt. Buildings 20.9
Apt. Complexes 20.4
Mobile Homes 0.5
Other 0.1

Home Size

SIZE OF Washington HOMES
No Bedroom 5.82
1 Bedroom 20.47
2 Bedrooms 30.87
3 Bedrooms 33.38
4 Bedrooms 7.82
5 or more bedrooms 1.64