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 7,160, 2,704 total housing units (homes and apartments), and a median house value of $931,962, Wayne house prices are not only among the most expensive in Pennsylvania, Wayne real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Wayne, accounting for 46.88% of the town's housing units. Other types of housing that are prevalent in Wayne include row houses and other attached homes ( 18.32%), large apartment complexes or high rise apartments ( 17.47%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 17.33%).
The most prevalent building size and type in Wayne are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 55.30% owning and 44.70% renting.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Wayne's housing was primarily built during this period, from the '40s through the '60s. A full 42.44% of the town's housing hails from this era. Other housing ages represented in Wayne include homes built between 1970-1999 ( 32.24%) and housing constructed before 1939 ( 22.16%). There's also some housing in Wayne built between 2000 and later ( 3.16%).
Wayne's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Wayne during the period has been just 4.87%, which is lower than 80% of US communities.
NeighborhoodScout's data show that during the latest twelve months, Wayne's appreciation rate, at 7.09%, has been at or slightly above the national average. In the latest quarter, Wayne's appreciation rate has been 1.44%, which annualizes to a rate of 5.90%.
Relative to Pennsylvania, our data show that Wayne's latest annual appreciation rate is higher than 50% 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 Wayne differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Wayne - 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 Wayne real estate investment or home purchase decisions.
$931,962
$3,148 / per month