Williamsport PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Williamsport, 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 Q3 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Williamsport Housing Market Information

With 28,186 people, 11,355 houses or apartments, and a median cost of homes of $115,515, 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 48.30% 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 ( 20.88%), large apartment complexes or high rise apartments ( 18.77%), and a few row houses and other attached homes ( 11.47%).

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 41.90% owning and 58.10% renting.

The housing in Williamsport was primarily built before 1939 ( 53.11%), 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 ( 25.81%), followed by between 1970-1999 ( 14.45%). There's also some housing in Williamsport built between 2000 and later ( 6.63%).

Vacant housing appears to be an issue in Williamsport. Fully 13.67% 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

Williamsport's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Williamsport during the period has been just 1.77%, which is lower than 70% of US communities.

Appreciation rates are so strong in Williamsport that despite a nationwide downturn in the housing market, Williamsport real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Williamsport appreciation rates continue to be some of the highest in America, at 5.33%, which is higher than appreciation rates in 77.72% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Williamsport. Williamsport appreciation rates in the latest quarter were at 2.90%, which equates to an annual appreciation rate of 12.12%.

Importantly, NeighborhoodScout’s exclusive research found that Williamsport's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.

Relative to Pennsylvania, our data show that Williamsport's latest annual appreciation rate is higher 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:
$115,515

Williamsport, PA HOME PRICES

Value Range
> $1,153,000 0.4
$865,001 - $1,153,000 0.1
$577,001 - $865,000 0.5
$462,001 - $577,000 0.8
$346,001 - $462,000 2.5
$231,001 - $346,000 10.9
$115,001 - $231,000 32.4
$57,001 - $115,000 43.5
$0 - $57,000 9.0

Low for PA
Low for Nation

Value Relative to Nation Value Relative to State
78.4058394160584 76.6409266409266

Number Of Homes And Apartments:
11,355

Williamsport Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
PA*
Compared To
America*
Latest Quarter:
2020 Q2 - 2020 Q3
Last 12 Months:
2019 Q3 - 2020 Q3
Last 2 Years:
2018 Q3 - 2020 Q3
Last 5 Years:
2015 Q3 - 2020 Q3
Last 10 Years:
2010 Q3 - 2020 Q3
Since 2000:
2000 Q1 - 2020 Q3
61.59% 2.34%
4
5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,039 / per month

Homeownership Rate

Homeownership
Owners 41.90
Renters 58.10
Vacant 13.67

Housing Market Details

 

Age of Homes

AGE OF Williamsport HOMES
2000 or Newer 6.6
1970 - 1999 14.4
1940 - 1969 25.8
1939 or Older 53.1

Types of Homes

TYPE OF Williamsport HOMES
Single-Family 48.3
Townhomes 11.5
Small Apt. Buildings 20.9
Apt. Complexes 18.8
Mobile Homes 0.5
Other 0.1

Home Size

SIZE OF Williamsport HOMES
No Bedroom 6.07
1 Bedroom 15.68
2 Bedrooms 23.91
3 Bedrooms 41.26
4 Bedrooms 10.03
5 or more bedrooms 3.05