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 1,276, 616 total housing units (homes and apartments), and a median house value of $301,925, Montrose 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 Montrose, accounting for 62.67% of the borough's housing units. Other types of housing that are prevalent in Montrose include duplexes, homes converted to apartments or other small apartment buildings ( 18.67%), large apartment complexes or high rise apartments ( 15.60%), and a few mobile homes or trailers ( 1.73%).
People in Montrose primarily live in small (one, two or no bedroom) single-family detached homes. Montrose has a mixture of owner-occupied and renter-occupied housing.
The housing in Montrose was primarily built before 1939 ( 55.07%), making the housing stock in Montrose some of the oldest overall in America, although there is a range of ages of homes in Montrose. The next most important housing age is between 1970-1999 ( 23.20%), followed by between 1940-1969 ( 21.20%).
Vacant housing appears to be an issue in Montrose. Fully 17.87% of the housing stock is classified as vacant. Left unchecked, vacant Montrose homes and apartments can be a drag on the real estate market, holding Montrose 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.
Real estate appreciation rates in Montrose's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.87% during the period.
NeighborhoodScout's data show that during the latest twelve months, Montrose's appreciation rate, at 7.27%, has been at or slightly above the national average. In the latest quarter, Montrose's appreciation rate has been 2.01%, which annualizes to a rate of 8.30%.
Relative to Pennsylvania, our data show that Montrose's latest annual appreciation rate is higher than 60% of the other cities and towns in Pennsylvania.
$301,925
for Pennsylvania
for nation
616
$1,234 / per month