West Newton, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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West Newton, 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 Newton Housing Market Information

With a population of 2,544, 1,191 total housing units (homes and apartments), and a median house value of $105,574, house prices in West Newton are solidly below the national average.

Single-family detached homes are the single most common housing type in West Newton, accounting for 73.75% of the borough's housing units. Other types of housing that are prevalent in West Newton include large apartment complexes or high rise apartments ( 11.44%), duplexes, homes converted to apartments or other small apartment buildings ( 7.76%), and a few row houses and other attached homes ( 5.02%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in West Newton. Owner-occupied housing accounts for 65.99% of West Newton's homes, and 59.25% have either three or four bedrooms, which is average sized relative to America.

The housing in West Newton was primarily built before 1939 ( 39.73%), making the housing stock in West Newton some of the oldest overall in America, although there is a range of ages of homes in West Newton. The next most important housing age is between 1940-1969 ( 38.87%), followed by between 1970-1999 ( 20.22%). There's also some housing in West Newton built between 2000 and later ( 1.18%).

West Newton Home Appreciation Rates

Appreciation rates for homes in West Newton have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 0.76%, which ranks in the top 50% nationwide. This equates to an annual average West Newton house appreciation rate of 0.08%.

Appreciation rates are so strong in West Newton that despite a nationwide downturn in the housing market, West Newton real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, West Newton appreciation rates continue to be some of the highest in America, at 11.86%, which is higher than appreciation rates in 97.27% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in West Newton. West Newton appreciation rates in the latest quarter were at -0.41%, which equates to an annual appreciation rate of -1.65%.

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

Average Home Values

 

Median Home Value:
$105,574

West Newton, PA HOME PRICES

Value Range
> $1,130,000 0.6
$848,001 - $1,130,000 1.6
$566,001 - $848,000 2.1
$452,001 - $566,000 0.0
$339,001 - $452,000 0.0
$226,001 - $339,000 6.5
$113,001 - $226,000 33.1
$57,001 - $113,000 42.2
$0 - $57,000 13.9

Low for PA
Low for Nation

Value Relative to Nation Value Relative to State
73.9247626860424 71.8840579710145

Number Of Homes And Apartments:
1,191

West Newton 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
33.40% 1.68% 3 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$620 / per month

Homeownership Rate

Homeownership
Owners 65.99
Renters 34.01
Vacant 6.66

Housing Market Details

 

Age of Homes

AGE OF West Newton HOMES
2000 or Newer 1.2
1970 - 1999 20.2
1940 - 1969 38.9
1939 or Older 39.7

Types of Homes

TYPE OF West Newton HOMES
Single-Family 73.7
Townhomes 5.0
Small Apt. Buildings 7.8
Apt. Complexes 11.4
Mobile Homes 2.0
Other 0.0

Home Size

SIZE OF West Newton HOMES
No Bedroom 0.47
1 Bedroom 12.38
2 Bedrooms 22.57
3 Bedrooms 44.20
4 Bedrooms 15.05
5 or more bedrooms 5.33

Popular Neighborhoods in West Newton

Zip Codes in West Newton, PA