Wellsboro, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Wellsboro Neighborhoods Since 2000




Wellsboro, 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

Wellsboro Housing Market Information

With a population of 3,290, 1,422 total housing units (homes and apartments), and a median house value of $154,165, Wellsboro real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Wellsboro, accounting for 61.82% of the borough's housing units. Other types of housing that are prevalent in Wellsboro include duplexes, homes converted to apartments or other small apartment buildings ( 24.37%), large apartment complexes or high rise apartments ( 10.42%), and a few row houses and other attached homes ( 2.39%).

The most prevalent building size and type in Wellsboro are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 55.44% owning and 44.56% renting.

The housing in Wellsboro was primarily built before 1939 ( 52.66%), making the housing stock in Wellsboro some of the oldest overall in America, although there is a range of ages of homes in Wellsboro. The next most important housing age is between 1970-1999 ( 24.70%), followed by between 1940-1969 ( 18.39%). There's also some housing in Wellsboro built between 2000 and later ( 4.25%).

Wellsboro Home Appreciation Rates

In the last 10 years, Wellsboro has experienced some of the highest home appreciation rates of any community in the nation. Wellsboro real estate appreciated 19.76% over the last ten years, which is an average annual home appreciation rate of 1.82%, putting Wellsboro in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Wellsboro definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Wellsboro appreciation rates have trailed the rest of the nation. In the last twelve months, Wellsboro's appreciation rate has been 2.11%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Wellsboro were at -1.59%, which equates to an annual appreciation rate of -6.20%.

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

Relative to Pennsylvania, our data show that Wellsboro's latest annual appreciation rate is lower than 50% of the other cities and towns in Pennsylvania.

Average Home Values

 

Median Home Value:
$154,165

Wellsboro, PA HOME PRICES

Value Range
> $1,052,000 0.0
$789,001 - $1,052,000 0.0
$526,001 - $789,000 0.9
$420,001 - $526,000 1.4
$316,001 - $420,000 3.8
$210,001 - $316,000 16.5
$105,001 - $210,000 54.4
$52,001 - $105,000 20.6
$0 - $52,000 2.4

Average for PA
Average for Nation

Value Relative to Nation Value Relative to State
48.2772764561116 42.8019323671498

Number Of Homes And Apartments:
1,422

Wellsboro 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
60.31% 2.77% 8 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$951 / per month

Homeownership Rate

Homeownership
Owners 55.44
Renters 44.56
Vacant 5.58

Housing Market Details

 

Age of Homes

AGE OF Wellsboro HOMES
2000 or Newer 4.2
1970 - 1999 24.7
1940 - 1969 18.4
1939 or Older 52.7

Types of Homes

TYPE OF Wellsboro HOMES
Single-Family 61.8
Townhomes 2.4
Small Apt. Buildings 24.4
Apt. Complexes 10.4
Mobile Homes 1.0
Other 0.0

Home Size

SIZE OF Wellsboro HOMES
No Bedroom 1.00
1 Bedroom 16.67
2 Bedrooms 29.22
3 Bedrooms 35.59
4 Bedrooms 13.48
5 or more bedrooms 4.05

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Zip Codes in Wellsboro, PA