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 16,441 people, 5,580 houses or apartments, and a median cost of homes of $239,092, house prices in Tobyhanna are solidly below the national average.
Single-family detached homes are the single most common housing type in Tobyhanna, accounting for 90.20% of the town's housing units. Other types of housing that are prevalent in Tobyhanna include row houses and other attached homes ( 4.89%), duplexes, homes converted to apartments or other small apartment buildings ( 2.07%), and a few mobile homes or trailers ( 1.91%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Tobyhanna. Owner-occupied housing accounts for 75.85% of Tobyhanna's homes, and 82.98% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Tobyhanna built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Tobyhanna built between 2000 and later ( 18.76%). A lesser amount of the housing stock also hails from between 1940-1969 ( 7.78%). There's also some housing in Tobyhanna built before 1939 ( 5.56%).
Vacant housing appears to be an issue in Tobyhanna. Fully 24.54% of the housing stock is classified as vacant. Left unchecked, vacant Tobyhanna homes and apartments can be a drag on the real estate market, holding Tobyhanna 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.
In the last 10 years, Tobyhanna has experienced some of the highest home appreciation rates of any community in the nation. Tobyhanna real estate appreciated 121.47% over the last ten years, which is an average annual home appreciation rate of 8.28%, putting Tobyhanna in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Tobyhanna definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
NeighborhoodScout's data show that during the latest twelve months, Tobyhanna's appreciation rate, at 6.23%, has been at or slightly above the national average. In the latest quarter, Tobyhanna's appreciation rate has been -4.11%, which annualizes to a rate of -15.47%.
Notably, Tobyhanna's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Pennsylvania, our data show that Tobyhanna's latest annual appreciation rate is lower than 60% 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 town. Individual neighborhoods within Tobyhanna differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Tobyhanna - 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 Tobyhanna real estate investment or home purchase decisions.
$239,092
for Pennsylvania
for nation
5,580
$2,466 / per month