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 5,377 people, 2,309 houses or apartments, and a median cost of homes of $180,358, house prices in Olyphant are solidly below the national average.
Single-family detached homes are the single most common housing type in Olyphant, accounting for 61.55% of the borough's housing units. Other types of housing that are prevalent in Olyphant include duplexes, homes converted to apartments or other small apartment buildings ( 17.31%), large apartment complexes or high rise apartments ( 14.44%), and a few row houses and other attached homes ( 4.86%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Olyphant. Owner-occupied housing accounts for 69.45% of Olyphant's homes, and 63.50% have either three or four bedrooms, which is average sized relative to America.
The housing in Olyphant was primarily built before 1939 ( 31.75%), making the housing stock in Olyphant some of the oldest overall in America, although there is a range of ages of homes in Olyphant. The next most important housing age is between 1940-1969 ( 27.42%), followed by between 1970-1999 ( 25.51%). There's also some housing in Olyphant built between 2000 and later ( 15.32%).
Vacant housing appears to be an issue in Olyphant. Fully 11.57% of the housing stock is classified as vacant. Left unchecked, vacant Olyphant homes and apartments can be a drag on the real estate market, holding Olyphant 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.
Olyphant's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Olyphant during the period has been just 4.54%, which is lower than 80% of US communities.
Appreciation rates are so strong in Olyphant that despite a nationwide downturn in the housing market, Olyphant real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Olyphant appreciation rates continue to be some of the highest in America, at 15.28%, which is higher than appreciation rates in 97.63% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Olyphant. Olyphant appreciation rates in the latest quarter were at 6.05%, which equates to an annual appreciation rate of 26.51%.
Importantly, this makes Olyphant one of the highest appreciating communities in the nation for the latest quarter, and may signal the borough's near-future real estate investment strength.
Relative to Pennsylvania, our data show that Olyphant's latest annual appreciation rate is higher than 90% of the other cities and towns in Pennsylvania.
$180,358
for Pennsylvania
for nation
2,309
$1,389 / per month