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 2,384, 817 total housing units (homes and apartments), and a median house value of $288,650, Spring Grove 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 Spring Grove, accounting for 53.71% of the borough's housing units. Other types of housing that are prevalent in Spring Grove include row houses and other attached homes ( 20.34%), duplexes, homes converted to apartments or other small apartment buildings ( 15.89%), and a few large apartment complexes or high rise apartments ( 10.06%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Spring Grove. Owner-occupied housing accounts for 69.52% of Spring Grove's homes, and 63.89% have either three or four bedrooms, which is average sized relative to America.
The housing in Spring Grove was primarily built before 1939 ( 34.86%), making the housing stock in Spring Grove some of the oldest overall in America, although there is a range of ages of homes in Spring Grove. The next most important housing age is between 1970-1999 ( 31.66%), followed by between 1940-1969 ( 20.11%). There's also some housing in Spring Grove built between 2000 and later ( 13.37%).
Real estate appreciation rates in Spring Grove's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.38% during the period.
Appreciation rates are so strong in Spring Grove that despite a nationwide downturn in the housing market, Spring Grove real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Spring Grove appreciation rates continue to be some of the highest in America, at 10.62%, which is higher than appreciation rates in 89.78% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Spring Grove. Spring Grove appreciation rates in the latest quarter were at 2.69%, which equates to an annual appreciation rate of 11.20%.
Relative to Pennsylvania, our data show that Spring Grove's latest annual appreciation rate is higher than 90% of the other cities and towns in Pennsylvania.
$288,650
for Pennsylvania
for nation
817
$1,776 / per month