West Hazleton, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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West Hazleton, 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

West Hazleton Housing Market Information

With a population of 4,503, 1,694 total housing units (homes and apartments), and a median house value of $85,596, house prices in West Hazleton 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 West Hazleton, accounting for 40.31% of the borough's housing units. Other types of housing that are prevalent in West Hazleton include row houses and other attached homes ( 33.57%), duplexes, homes converted to apartments or other small apartment buildings ( 19.47%), and a few large apartment complexes or high rise apartments ( 6.34%).

The most prevalent building size and type in West Hazleton are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 51.18% owning and 48.82% renting.

The housing in West Hazleton was primarily built before 1939 ( 47.57%), making the housing stock in West Hazleton some of the oldest overall in America, although there is a range of ages of homes in West Hazleton. The next most important housing age is between 1940-1969 ( 37.53%), followed by between 1970-1999 ( 11.66%). There's also some housing in West Hazleton built between 2000 and later ( 3.25%).

Vacant housing appears to be an issue in West Hazleton. Fully 14.10% of the housing stock is classified as vacant. Left unchecked, vacant West Hazleton homes and apartments can be a drag on the real estate market, holding West Hazleton 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.

West Hazleton Home Appreciation Rates

Homes have actually lost value in West Hazleton over the last then years, as home values have seen a decline of 24.59% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows West Hazleton home appreciation rates at 2.13%, which equates to an annual appreciation rate of 8.80%.

Over the last year, West Hazleton appreciation rates have trailed the rest of the nation. In the last twelve months, West Hazleton's appreciation rate has been -3.31%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in West Hazleton were at 2.13%, which equates to an annual appreciation rate of 8.80%.

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

Relative to Pennsylvania, our data show that West Hazleton's latest annual appreciation rate is lower than 90% of the other cities and towns in Pennsylvania.

Average Home Values

 

Median Home Value:
$85,596

West Hazleton, PA HOME PRICES

Value Range
> $916,000 1.3
$687,001 - $916,000 0.0
$458,001 - $687,000 0.0
$366,001 - $458,000 0.0
$274,001 - $366,000 1.3
$183,001 - $274,000 4.9
$91,001 - $183,000 26.6
$46,001 - $91,000 48.6
$0 - $46,000 17.4

Very Low for PA
Very Low for Nation

Value Relative to Nation Value Relative to State
87.0326965897105 85.7004830917874

Number Of Homes And Apartments:
1,694

West Hazleton 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
6.07% 0.34% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$992 / per month

Homeownership Rate

Homeownership
Owners 51.18
Renters 48.82
Vacant 14.10

Housing Market Details

 

Age of Homes

AGE OF West Hazleton HOMES
2000 or Newer 3.2
1970 - 1999 11.7
1940 - 1969 37.5
1939 or Older 47.6

Types of Homes

TYPE OF West Hazleton HOMES
Single-Family 40.3
Townhomes 33.6
Small Apt. Buildings 19.5
Apt. Complexes 6.3
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF West Hazleton HOMES
No Bedroom 0.81
1 Bedroom 13.34
2 Bedrooms 29.87
3 Bedrooms 36.56
4 Bedrooms 15.16
5 or more bedrooms 4.26

Popular Neighborhoods in West Hazleton

Zip Codes in West Hazleton, PA