Wayne, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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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 Q1 2018. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2016 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Wayne Housing Market Information

With a population of 35,571, 1,917 total housing units (homes and apartments), and a median house value of $128,171, 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 54.61% of the town's housing units. Other types of housing that are prevalent in Wayne include large apartment complexes or high rise apartments ( 23.89%), row houses and other attached homes ( 16.66%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.74%).

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 68.11% of Wayne's homes, and 50.64% 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 40.47% of the town's housing hails from this era. Other housing ages represented in Wayne include homes built between 1970-1999 ( 38.84%) and housing constructed before 1939 ( 16.54%). There's also some housing in Wayne built between 2000 and later ( 4.14%).

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 16.33%, which ranks in the top 30% nationwide. This equates to an annual average Wayne house appreciation rate of 1.52%.

Appreciation rates are so strong in Wayne that despite a nationwide downturn in the housing market, Wayne real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Wayne appreciation rates continue to be some of the highest in America, at 7.33%, which is higher than appreciation rates in 71.14% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Wayne. Wayne appreciation rates in the latest quarter were at 2.19%, which equates to an annual appreciation rate of 9.04%.

Importantly, this makes Wayne one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

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:
$128,171

Wayne, PA HOME PRICES

Value Range
> $1,149,334 0.6
$861,915 - $1,149,334 0.0
$574,534 - $861,914 1.3
$459,419 - $574,533 0.6
$345,036 - $459,418 1.3
$229,922 - $345,035 9.9
$115,115 - $229,921 37.5
$57,193 - $115,114 40.3
$0 - $57,192 8.5

Low for PA
Low for Nation

Value Relative to Nation Value Relative to State
64.4613138686131 60.5212355212355

Number Of Homes And Apartments:
1,917

Wayne Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
PA*
Compared To
America*
Latest Quarter:
2017 Q4 - 2018 Q1
Last 12 Months:
2017 Q1 - 2018 Q1
Last 2 Years:
2016 Q1 - 2018 Q1
Last 5 Years:
2013 Q1 - 2018 Q1
Last 10 Years:
2008 Q1 - 2018 Q1
Since 2000:
2000 Q1 - 2018 Q1
42.11% 1.94%
4
4
* 10 is highest


Rent & Ownership

 

Average Market Rent:
$778 / per month

Homeownership Rate

Homeownership
Owners 68.11
Renters 31.89
Vacant 5.65

Housing Market Details

 

Age of Homes

AGE OF Wayne HOMES
2000 or Newer 4.1
1970 - 1999 38.8
1940 - 1969 40.5
1939 or Older 16.5

Types of Homes

TYPE OF Wayne HOMES
Single-Family 54.6
Townhomes 16.7
Small Apt. Buildings 4.7
Apt. Complexes 23.9
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Wayne HOMES
No Bedroom 2.09
1 Bedroom 10.31
2 Bedrooms 23.17
3 Bedrooms 23.67
4 Bedrooms 26.98
5 or more bedrooms 13.78