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 3,441 people, 1,508 houses or apartments, and a median cost of homes of $260,307, Wellsboro 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 Wellsboro, accounting for 65.26% of the borough's housing units. Other types of housing that are prevalent in Wellsboro include duplexes, homes converted to apartments or other small apartment buildings ( 19.20%), large apartment complexes or high rise apartments ( 8.77%), and a few row houses and other attached homes ( 3.00%).
The most prevalent building size and type in Wellsboro are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 59.01% owning and 40.99% renting.
The housing in Wellsboro was primarily built before 1939 ( 46.78%), making the housing stock in Wellsboro some of the oldest overall in America, although there is a range of ages of homes in Wellsboro. The next most important housing age is between 1940-1969 ( 26.42%), followed by between 1970-1999 ( 14.76%). There's also some housing in Wellsboro built between 2000 and later ( 12.04%).
Vacant housing appears to be an issue in Wellsboro. Fully 16.32% of the housing stock is classified as vacant. Left unchecked, vacant Wellsboro homes and apartments can be a drag on the real estate market, holding Wellsboro 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.
Real estate appreciation rates in Wellsboro's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.76% during the period.
NeighborhoodScout's data show that during the latest twelve months, Wellsboro's appreciation rate, at 7.17%, has been at or slightly above the national average. In the latest quarter, Wellsboro's appreciation rate has been 2.01%, which annualizes to a rate of 8.30%.
Relative to Pennsylvania, our data show that Wellsboro's latest annual appreciation rate is higher than 60% of the other cities and towns in Pennsylvania.
$260,307
for Pennsylvania
for nation
1,508
$1,261 / per month