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 7,496, 340 total housing units (homes and apartments), and a median house value of $163,352, house prices in Ellwood City are solidly below the national average.
Single-family detached homes are the single most common housing type in Ellwood City, accounting for 60.40% of the borough's housing units. Other types of housing that are prevalent in Ellwood City include row houses and other attached homes ( 34.41%), duplexes, homes converted to apartments or other small apartment buildings ( 5.20%).
The most prevalent building size and type in Ellwood City are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 41.76% owning and 58.24% 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. Ellwood City's housing was primarily built during this period, from the '40s through the '60s. A full 38.61% of the borough's housing hails from this era. Other housing ages represented in Ellwood City include homes built between 1970-1999 ( 33.66%) and housing constructed before 1939 ( 24.51%). There's also some housing in Ellwood City built between 2000 and later ( 3.22%).
Vacant housing appears to be an issue in Ellwood City. Fully 15.84% of the housing stock is classified as vacant. Left unchecked, vacant Ellwood City homes and apartments can be a drag on the real estate market, holding Ellwood City 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.
Ellwood City's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Ellwood City during the period has been just 4.62%, which is lower than 80% of US communities.
Over the last year, Ellwood City appreciation rates have trailed the rest of the nation. In the last twelve months, Ellwood City's appreciation rate has been 3.42%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Ellwood City were at 1.94%, which equates to an annual appreciation rate of 7.99%.
Relative to Pennsylvania, our data show that Ellwood City's latest annual appreciation rate is lower than 70% 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 Ellwood City differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Ellwood City - 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 Ellwood City real estate investment or home purchase decisions.
$163,352
for Pennsylvania
for nation
340
$1,052 / per month