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 8,467, 3,895 total housing units (homes and apartments), and a median house value of $124,032, house prices in Lewistown 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 Lewistown, accounting for 43.58% of the borough's housing units. Other types of housing that are prevalent in Lewistown include duplexes, homes converted to apartments or other small apartment buildings ( 20.91%), large apartment complexes or high rise apartments ( 16.96%), and a few row houses and other attached homes ( 16.78%).
People in Lewistown primarily live in small (one, two or no bedroom) single-family detached homes. Lewistown has a mixture of owner-occupied and renter-occupied housing.
The housing in Lewistown was primarily built before 1939 ( 52.83%), making the housing stock in Lewistown some of the oldest overall in America, although there is a range of ages of homes in Lewistown. The next most important housing age is between 1940-1969 ( 32.37%), followed by between 1970-1999 ( 12.96%). There's also some housing in Lewistown built between 2000 and later ( 1.84%).
Vacant housing appears to be an issue in Lewistown. Fully 11.46% of the housing stock is classified as vacant. Left unchecked, vacant Lewistown homes and apartments can be a drag on the real estate market, holding Lewistown 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 Lewistown, where house values have increased just 52.80%, which is annualized rate of 4.33%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Appreciation rates are so strong in Lewistown that despite a nationwide downturn in the housing market, Lewistown real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lewistown appreciation rates continue to be some of the highest in America, at 10.05%, which is higher than appreciation rates in 87.54% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Lewistown. Lewistown appreciation rates in the latest quarter were at 2.01%, which equates to an annual appreciation rate of 8.30%.
Relative to Pennsylvania, our data show that Lewistown's latest annual appreciation rate is higher than 80% of the other cities and towns in Pennsylvania.
$124,032
for Pennsylvania
for nation
3,895
$1,083 / per month