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 1,388 people, 533 houses or apartments, and a median cost of homes of $183,502, house prices in Newville are solidly below the national average.
Row houses and other attached homes are the single most common housing type in Newville, accounting for 32.24% of the borough's housing units. Other types of housing that are prevalent in Newville include duplexes, homes converted to apartments or other small apartment buildings ( 28.28%), single-family detached homes ( 26.55%), and a few large apartment complexes or high rise apartments ( 11.38%). Boroughs with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact boroughs that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.
The most prevalent building size and type in Newville are three and four bedroom dwellings, chiefly found in row houses and other attached homes. The borough has a mixture of owners and renters, with 53.47% owning and 46.53% renting.
The housing in Newville was primarily built before 1939 ( 69.83%), making the housing stock in Newville some of the oldest overall in America, although there is a range of ages of homes in Newville. The next most important housing age is between 1940-1969 ( 17.24%), followed by between 1970-1999 ( 11.90%). There's also some housing in Newville built between 2000 and later ( 1.03%).
Some of the lowest real estate appreciation rates in America over the last ten years have been in Newville, where house values have increased just 47.67%, which is annualized rate of 3.97%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Appreciation rates are so strong in Newville that despite a nationwide downturn in the housing market, Newville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Newville appreciation rates continue to be some of the highest in America, at 7.64%, which is higher than appreciation rates in 79.90% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Newville. Newville appreciation rates in the latest quarter were at -0.82%, which equates to an annual appreciation rate of -3.24%.
Notably, Newville's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Pennsylvania, our data show that Newville's latest annual appreciation rate is higher than 80% of the other cities and towns in Pennsylvania.
$183,502
for Pennsylvania
for nation
533
$1,346 / per month