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 1,753 people, 749 houses or apartments, and a median cost of homes of $258,731, Tunkhannock 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 Tunkhannock, accounting for 65.97% of the borough's housing units. Other types of housing that are prevalent in Tunkhannock include duplexes, homes converted to apartments or other small apartment buildings ( 18.30%), large apartment complexes or high rise apartments ( 10.96%), and a few row houses and other attached homes ( 4.78%).
The most prevalent building size and type in Tunkhannock are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 53.15% owning and 46.85% renting.
The housing in Tunkhannock was primarily built before 1939 ( 60.49%), making the housing stock in Tunkhannock some of the oldest overall in America, although there is a range of ages of homes in Tunkhannock. The next most important housing age is between 1940-1969 ( 24.48%), followed by between 1970-1999 ( 15.04%).
Vacant housing appears to be an issue in Tunkhannock. Fully 12.70% of the housing stock is classified as vacant. Left unchecked, vacant Tunkhannock homes and apartments can be a drag on the real estate market, holding Tunkhannock 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.
Some of the lowest real estate appreciation rates in America over the last ten years have been in Tunkhannock, where house values have increased just 54.32%, which is annualized rate of 4.43%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Appreciation rates are so strong in Tunkhannock that despite a nationwide downturn in the housing market, Tunkhannock real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Tunkhannock appreciation rates continue to be some of the highest in America, at 13.60%, which is higher than appreciation rates in 96.27% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Tunkhannock. Tunkhannock appreciation rates in the latest quarter were at 6.05%, which equates to an annual appreciation rate of 26.51%.
Importantly, this makes Tunkhannock 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 Tunkhannock's latest annual appreciation rate is higher than 90% of the other cities and towns in Pennsylvania.
$258,731
for Pennsylvania
for nation
749
$1,307 / per month