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 5,666, 2,438 total housing units (homes and apartments), and a median house value of $84,171, house prices in Mount Carmel are some of the most affordable in Pennsylvania as well as the nation.
Row houses and other attached homes are the single most common housing type in Mount Carmel, accounting for 50.55% of the borough's housing units. Other types of housing that are prevalent in Mount Carmel include single-family detached homes ( 32.50%), duplexes, homes converted to apartments or other small apartment buildings ( 11.22%), and a few large apartment complexes or high rise apartments ( 5.44%). Boroughs with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact boroughs that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.
Owner-occupied, three and four bedroom dwellings, primarily in row houses and other attached homes are the most prevalent type of housing you will see in Mount Carmel. Owner-occupied housing accounts for 70.30% of Mount Carmel's homes, and 59.44% have either three or four bedrooms, which is average sized relative to America.
The housing in Mount Carmel was primarily built before 1939 ( 62.09%), making the housing stock in Mount Carmel some of the oldest overall in America, although there is a range of ages of homes in Mount Carmel. The next most important housing age is between 1940-1969 ( 23.36%), followed by between 1970-1999 ( 11.07%). There's also some housing in Mount Carmel built between 2000 and later ( 3.48%).
Vacant housing appears to be an issue in Mount Carmel. Fully 22.92% of the housing stock is classified as vacant. Left unchecked, vacant Mount Carmel homes and apartments can be a drag on the real estate market, holding Mount Carmel 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.
Mount Carmel's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Mount Carmel during the period has been just 4.85%, which is lower than 80% of US communities.
NeighborhoodScout's data show that during the latest twelve months, Mount Carmel's appreciation rate, at 5.51%, has been at or slightly above the national average. In the latest quarter, Mount Carmel's appreciation rate has been 2.01%, which annualizes to a rate of 8.30%.
Relative to Pennsylvania, our data show that Mount Carmel's latest annual appreciation rate is lower than 60% of the other cities and towns in Pennsylvania.
$84,171
for Pennsylvania
for nation
2,438
$1,072 / per month