Williamsport, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Williamsport, PA Real Estate Data


Williamsport Housing Market Information

With 29,201 people, 10,756 houses or apartments, and a median cost of homes of $111,945, house prices in Williamsport are solidly below the national average.

Single-family detached homes are the single most common housing type in Williamsport, accounting for 45.30% of the city's housing units. Other types of housing that are prevalent in Williamsport include duplexes, homes converted to apartments or other small apartment buildings ( 19.72%), large apartment complexes or high rise apartments ( 17.84%), and a few row houses and other attached homes ( 16.69%).

The most prevalent building size and type in Williamsport are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 39.26% owning and 60.74% renting.

The housing in Williamsport was primarily built before 1939 ( 55.61%), making the housing stock in Williamsport some of the oldest overall in America, although there is a range of ages of homes in Williamsport. The next most important housing age is between 1940-1969 ( 27.69%), followed by between 1970-1999 ( 13.78%). There's also some housing in Williamsport built between 2000 and later ( 2.92%).

Vacant housing appears to be an issue in Williamsport. Fully 15.11% of the housing stock is classified as vacant. Left unchecked, vacant Williamsport homes and apartments can be a drag on the real estate market, holding Williamsport 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.

Williamsport Home Appreciation Rates

In the last 10 years, Williamsport has experienced some of the highest home appreciation rates of any community in the nation. Williamsport real estate appreciated 24.43% over the last ten years, which is an average annual home appreciation rate of 2.21%, putting Williamsport in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Williamsport 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, Williamsport appreciation rates have trailed the rest of the nation. In the last twelve months, Williamsport's appreciation rate has been 2.54%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Williamsport were at 0.93%, which equates to an annual appreciation rate of 3.79%.

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

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

Average Home Values

 

Median Home Value:
$111,945

Williamsport, PA HOME PRICES

Value Range
> $1,068,000 0.1
$801,001 - $1,068,000 0.3
$534,001 - $801,000 1.2
$427,001 - $534,000 3.3
$320,001 - $427,000 1.9
$214,001 - $320,000 5.7
$107,001 - $214,000 29.9
$53,001 - $107,000 43.9
$0 - $53,000 13.7

Low for PA
Low for Nation

Value Relative to Nation Value Relative to State
71.1776073080752 70.7246376811594

Number Of Homes And Apartments:
10,756

Rent & Ownership

 

Average Market Rent:
$983 / per month

Homeownership Rate

Homeownership
Owners 39.26
Renters 60.74
Vacant 15.11

Housing Market Details

 

Age of Homes

AGE OF Williamsport HOMES
2000 or Newer 2.9
1970 - 1999 13.8
1940 - 1969 27.7
1939 or Older 55.6

Types of Homes

TYPE OF Williamsport HOMES
Single-Family 45.3
Townhomes 16.7
Small Apt. Buildings 19.7
Apt. Complexes 17.8
Mobile Homes 0.4
Other 0.0

Home Size

SIZE OF Williamsport HOMES
No Bedroom 6.19
1 Bedroom 16.38
2 Bedrooms 21.48
3 Bedrooms 40.16
4 Bedrooms 11.68
5 or more bedrooms 4.11

Williamsport Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
PA*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
63.89% 2.95% 9 8
* 10 is highest