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 1,629 people, 760 houses or apartments, and a median cost of homes of $166,623, house prices in Cheswick are solidly below the national average.
Single-family detached homes are the single most common housing type in Cheswick, accounting for 86.31% of the borough's housing units. Other types of housing that are prevalent in Cheswick include row houses and other attached homes ( 9.67%), duplexes, homes converted to apartments or other small apartment buildings ( 2.65%), and a few large apartment complexes or high rise apartments ( 1.38%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Cheswick. Owner-occupied housing accounts for 79.10% of Cheswick's homes, and 65.59% have either three or four bedrooms, which is average sized relative to America.
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. Cheswick's housing was primarily built during this period, from the '40s through the '60s. A full 62.95% of the borough's housing hails from this era. Other housing ages represented in Cheswick include homes built before 1939 ( 17.61%) and housing constructed between 1970-1999 ( 16.23%). There's also some housing in Cheswick built between 2000 and later ( 3.22%).
Vacant housing appears to be an issue in Cheswick. Fully 12.54% of the housing stock is classified as vacant. Left unchecked, vacant Cheswick homes and apartments can be a drag on the real estate market, holding Cheswick 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.
Some of the lowest real estate appreciation rates in America over the last ten years have been in Cheswick, where house values have increased just 44.24%, which is annualized rate of 3.73%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Over the last year, Cheswick appreciation rates have trailed the rest of the nation. In the last twelve months, Cheswick's appreciation rate has been -5.81%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Cheswick were at 1.11%, which equates to an annual appreciation rate of 4.51%.
Relative to Pennsylvania, our data show that Cheswick's latest annual appreciation rate is lower than 90% of the other cities and towns in Pennsylvania.
$166,623
for Pennsylvania
for nation
760
$1,625 / per month