Wayne, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Wayne Neighborhoods Since 2000




Wayne, 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 Q2 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

Wayne Housing Market Information

With 35,567 people, 1,951 houses or apartments, and a median cost of homes of $110,773, house prices in Wayne are solidly below the national average.

Single-family detached homes are the single most common housing type in Wayne, accounting for 55.35% of the town's housing units. Other types of housing that are prevalent in Wayne include large apartment complexes or high rise apartments ( 23.38%), row houses and other attached homes ( 16.64%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.63%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Wayne. Owner-occupied housing accounts for 68.43% of Wayne's homes, and 50.08% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Wayne's housing was primarily built during this period, from the '40s through the '60s. A full 42.36% of the town's housing hails from this era. Other housing ages represented in Wayne include homes built between 1970-1999 ( 37.16%) and housing constructed before 1939 ( 16.04%). There's also some housing in Wayne built between 2000 and later ( 4.44%).

Wayne Home Appreciation Rates

Appreciation rates for homes in Wayne have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 12.84%, which ranks in the top 30% nationwide. This equates to an annual average Wayne house appreciation rate of 1.22%.

NeighborhoodScout's data show that during the latest twelve months, Wayne's appreciation rate, at 4.37%, has been at or slightly above the national average. In the latest quarter, Wayne's appreciation rate has been 0.49%, which annualizes to a rate of 1.97%.

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

Relative to Pennsylvania, our data show that Wayne's latest annual appreciation rate is higher than 80% 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 town. Individual neighborhoods within Wayne differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Wayne - 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 Wayne real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$110,773

Wayne, PA HOME PRICES

Value Range
> $1,094,000 0.8
$821,001 - $1,094,000 0.0
$547,001 - $821,000 0.9
$438,001 - $547,000 0.8
$328,001 - $438,000 1.4
$219,001 - $328,000 6.8
$109,001 - $219,000 39.2
$55,001 - $109,000 42.0
$0 - $55,000 8.1

Low for PA
Low for Nation

Value Relative to Nation Value Relative to State
72.0533989109433 69.4685990338164

Number Of Homes And Apartments:
1,951

Wayne Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
PA*
Compared To
America*
Latest Quarter:
2017 Q1 - 2017 Q2
Last 12 Months:
2016 Q2 - 2017 Q2
Last 2 Years:
2015 Q2 - 2017 Q2
Last 5 Years:
2012 Q2 - 2017 Q2
Last 10 Years:
2007 Q2 - 2017 Q2
Since 2000:
2000 Q1 - 2017 Q2
33.09% 1.65% 2 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$744 / per month

Homeownership Rate

Homeownership
Owners 68.43
Renters 31.57
Vacant 4.69

Housing Market Details

 

Age of Homes

AGE OF Wayne HOMES
2000 or Newer 4.4
1970 - 1999 37.2
1940 - 1969 42.4
1939 or Older 16.0

Types of Homes

TYPE OF Wayne HOMES
Single-Family 55.3
Townhomes 16.6
Small Apt. Buildings 4.6
Apt. Complexes 23.4
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Wayne HOMES
No Bedroom 1.48
1 Bedroom 10.69
2 Bedrooms 23.34
3 Bedrooms 22.88
4 Bedrooms 27.20
5 or more bedrooms 14.41