Wilkinsburg, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Wilkinsburg, 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

Wilkinsburg Housing Market Information

With a population of 15,731, 8,001 total housing units (homes and apartments), and a median house value of $103,631, house prices in Wilkinsburg are solidly below the national average.

Single-family detached homes are the single most common housing type in Wilkinsburg, accounting for 37.92% of the borough's housing units. Other types of housing that are prevalent in Wilkinsburg include large apartment complexes or high rise apartments ( 27.90%), duplexes, homes converted to apartments or other small apartment buildings ( 19.75%), and a few row houses and other attached homes ( 14.30%).

People in Wilkinsburg primarily live in small (one, two or no bedroom) single-family detached homes. Wilkinsburg has a mixture of owner-occupied and renter-occupied housing.

The housing in Wilkinsburg was primarily built before 1939 ( 42.75%), making the housing stock in Wilkinsburg some of the oldest overall in America, although there is a range of ages of homes in Wilkinsburg. The next most important housing age is between 1940-1969 ( 38.17%), followed by between 1970-1999 ( 17.64%). There's also some housing in Wilkinsburg built between 2000 and later ( 1.44%).

Vacant housing appears to be an issue in Wilkinsburg. Fully 21.02% of the housing stock is classified as vacant. Left unchecked, vacant Wilkinsburg homes and apartments can be a drag on the real estate market, holding Wilkinsburg 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.

Wilkinsburg Home Appreciation Rates

In the last 10 years, Wilkinsburg has experienced some of the highest home appreciation rates of any community in the nation. Wilkinsburg real estate appreciated 19.71% over the last ten years, which is an average annual home appreciation rate of 1.82%, putting Wilkinsburg in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Wilkinsburg definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Wilkinsburg's appreciation rate, at 3.30%, has been at or slightly above the national average. In the latest quarter, Wilkinsburg's appreciation rate has been -0.41%, which annualizes to a rate of -1.65%.

Relative to Pennsylvania, our data show that Wilkinsburg's latest annual appreciation rate is higher than 60% 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 borough. Individual neighborhoods within Wilkinsburg differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Wilkinsburg - 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 Wilkinsburg real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$103,631

Wilkinsburg, PA HOME PRICES

Value Range
> $1,113,000 0.0
$834,001 - $1,113,000 0.0
$556,001 - $834,000 1.1
$445,001 - $556,000 0.6
$334,001 - $445,000 1.8
$222,001 - $334,000 7.0
$111,001 - $222,000 23.5
$56,001 - $111,000 33.8
$0 - $56,000 32.3

Low for PA
Low for Nation

Value Relative to Nation Value Relative to State
75.2783311848119 73.6231884057971

Number Of Homes And Apartments:
8,001

Wilkinsburg 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
46.79% 2.25% 6 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$875 / per month

Homeownership Rate

Homeownership
Owners 36.69
Renters 63.31
Vacant 21.02

Housing Market Details

 

Age of Homes

AGE OF Wilkinsburg HOMES
2000 or Newer 1.4
1970 - 1999 17.6
1940 - 1969 38.2
1939 or Older 42.7

Types of Homes

TYPE OF Wilkinsburg HOMES
Single-Family 37.9
Townhomes 14.3
Small Apt. Buildings 19.8
Apt. Complexes 27.9
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Wilkinsburg HOMES
No Bedroom 2.47
1 Bedroom 24.16
2 Bedrooms 33.46
3 Bedrooms 28.42
4 Bedrooms 8.23
5 or more bedrooms 3.26