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 12,680, 4,812 total housing units (homes and apartments), and a median house value of $201,712, house prices in Meadville are solidly below the national average.
Single-family detached homes are the single most common housing type in Meadville, accounting for 50.57% of the city's housing units. Other types of housing that are prevalent in Meadville include duplexes, homes converted to apartments or other small apartment buildings ( 28.50%), large apartment complexes or high rise apartments ( 16.72%), and a few row houses and other attached homes ( 3.20%).
Renters dominate Meadville's housing market, and most live in three of four bedroom dwellings, chiefly found in single-family detached homes.
The housing in Meadville was primarily built before 1939 ( 43.38%), making the housing stock in Meadville some of the oldest overall in America, although there is a range of ages of homes in Meadville. The next most important housing age is between 1940-1969 ( 33.65%), followed by between 1970-1999 ( 20.31%). There's also some housing in Meadville built between 2000 and later ( 2.65%).
Vacant housing appears to be an issue in Meadville. Fully 14.86% of the housing stock is classified as vacant. Left unchecked, vacant Meadville homes and apartments can be a drag on the real estate market, holding Meadville 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.
Meadville's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Meadville during the period has been just 5.13%, which is lower than 80% of US communities.
Appreciation rates are so strong in Meadville that despite a nationwide downturn in the housing market, Meadville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Meadville appreciation rates continue to be some of the highest in America, at 12.90%, which is higher than appreciation rates in 95.27% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Meadville. Meadville 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 Meadville's latest annual appreciation rate is higher 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 Meadville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Meadville - 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 Meadville real estate investment or home purchase decisions.
$201,712
for Pennsylvania
for nation
4,812
$1,329 / per month