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 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

Williamsport Housing Market Information

With 29,201 people, 10,833 houses or apartments, and a median cost of homes of $93,692, house prices in Williamsport 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 Williamsport, accounting for 48.55% 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 ( 18.72%), large apartment complexes or high rise apartments ( 16.58%), and a few row houses and other attached homes ( 15.53%).

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 43.00% owning and 57.00% renting.

The housing in Williamsport was primarily built before 1939 ( 54.31%), 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 ( 27.03%), followed by between 1970-1999 ( 14.78%). There's also some housing in Williamsport built between 2000 and later ( 3.87%).

Vacant housing appears to be an issue in Williamsport. Fully 14.42% 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

Appreciation rates for homes in Williamsport have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 10.43%, which ranks in the top 30% nationwide. This equates to an annual average Williamsport house appreciation rate of 1.00%.

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 -9.62%, 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 -4.78%, which equates to an annual appreciation rate of -17.78%.

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 90% 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:
$93,692

Williamsport, PA HOME PRICES

Value Range
> $998,000 0.1
$749,001 - $998,000 0.3
$499,001 - $749,000 0.2
$399,001 - $499,000 0.5
$300,001 - $399,000 2.1
$200,001 - $300,000 6.5
$100,001 - $200,000 32.0
$50,001 - $100,000 42.2
$0 - $50,000 16.1

Very Low for PA
Very Low for Nation

Value Relative to Nation Value Relative to State
81.5774053673972 80.0966183574879

Number Of Homes And Apartments:
10,833

Williamsport 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
41.09% 2.02% 5 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$877 / per month

Homeownership Rate

Homeownership
Owners 43.00
Renters 57.00
Vacant 14.42

Housing Market Details

 

Age of Homes

AGE OF Williamsport HOMES
2000 or Newer 3.9
1970 - 1999 14.8
1940 - 1969 27.0
1939 or Older 54.3

Types of Homes

TYPE OF Williamsport HOMES
Single-Family 48.6
Townhomes 15.5
Small Apt. Buildings 18.7
Apt. Complexes 16.6
Mobile Homes 0.6
Other 0.0

Home Size

SIZE OF Williamsport HOMES
No Bedroom 6.41
1 Bedroom 14.45
2 Bedrooms 23.23
3 Bedrooms 39.29
4 Bedrooms 11.86
5 or more bedrooms 4.76