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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 22,172, 9,815 total housing units (homes and apartments), and a median house value of $260,542, Chambersburg real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Chambersburg, accounting for 41.57% of the borough's housing units. Other types of housing that are prevalent in Chambersburg include row houses and other attached homes ( 27.86%), large apartment complexes or high rise apartments ( 15.83%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 14.45%).
The most prevalent building size and type in Chambersburg are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 40.85% owning and 59.15% renting.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Chambersburg's housing was primarily built during this period, from the '40s through the '60s. A full 32.48% of the borough's housing hails from this era. Other housing ages represented in Chambersburg include homes built before 1939 ( 24.17%) and housing constructed between 1970-1999 ( 23.57%). There's also some housing in Chambersburg built between 2000 and later ( 19.79%).
Chambersburg's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Chambersburg during the period has been just 5.16%, which is lower than 80% of US communities.
Appreciation rates are so strong in Chambersburg that despite a nationwide downturn in the housing market, Chambersburg real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Chambersburg appreciation rates continue to be some of the highest in America, at 9.31%, which is higher than appreciation rates in 82.96% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Chambersburg. Chambersburg appreciation rates in the latest quarter were at 6.55%, which equates to an annual appreciation rate of 28.91%.
Importantly, this makes Chambersburg one of the highest appreciating communities in the nation for the latest quarter, and may signal the borough's near-future real estate investment strength.
Relative to Pennsylvania, our data show that Chambersburg'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 borough. Individual neighborhoods within Chambersburg differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Chambersburg - 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 Chambersburg real estate investment or home purchase decisions.
$260,542
for Pennsylvania
for nation
9,815
$1,715 / per month