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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Greencastle, PA Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Greencastle, PA Housing Market Trends

With a population of 4,224, 1,698 total housing units (homes and apartments), and a median house value of $298,163, Greencastle 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 Greencastle, accounting for 57.76% of the borough's housing units. Other types of housing that are prevalent in Greencastle include duplexes, homes converted to apartments or other small apartment buildings ( 18.47%), row houses and other attached homes ( 14.26%), and a few large apartment complexes or high rise apartments ( 6.61%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Greencastle. Owner-occupied housing accounts for 67.24% of Greencastle's homes, and 66.56% have either three or four bedrooms, which is average sized relative to America.

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. Greencastle's housing was primarily built during this period, from the '40s through the '60s. A full 32.79% of the borough's housing hails from this era. Other housing ages represented in Greencastle include homes built between 1970-1999 ( 30.05%) and housing constructed before 1939 ( 21.26%). There's also some housing in Greencastle built between 2000 and later ( 15.90%).

Greencastle Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Greencastle, where house values have increased just 49.87%, which is annualized rate of 4.13%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

NeighborhoodScout's data show that during the latest twelve months, Greencastle's appreciation rate, at 6.12%, has been at or slightly above the national average. In the latest quarter, Greencastle's appreciation rate has been 6.55%, which annualizes to a rate of 28.91%.

Importantly, this makes Greencastle 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 Greencastle's latest annual appreciation rate is lower than 60% of the other cities and towns in Pennsylvania.

Average Home Values

Median Home Value

$298,163

Greencastle, PA Home Prices
> $1,258,000
$943,001 - $1,258,000
$629,001 - $943,000
$503,001 - $629,000
$377,001 - $503,000
$251,001 - $377,000
$126,001 - $251,000
$63,001 - $126,000
$0 - $63,000
0.0%
0.0%
2.2%
2.2%
4.0%
4.0%
4.3%
4.3%
9.5%
9.5%
46.3%
46.3%
26.8%
26.8%
3.9%
3.9%
3.0%
3.0%
0% 100.0%
% of Homes
High

for Pennsylvania

Average

for nation

Number of Homes And Apartments:

1,698

Greencastle Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,548 / per month

Homeownership Rate

Owners
Renters
67.2%
67.2%
32.8%
32.8%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
7.2%
7.2%
92.8%
92.8%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
15.9%
15.9%
30.1%
30.1%
32.8%
32.8%
21.3%
21.3%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
57.8%
57.8%
14.3%
14.3%
18.5%
18.5%
6.6%
6.6%
2.9%
2.9%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.2%
2.2%
7.3%
7.3%
21.9%
21.9%
39.5%
39.5%
27.0%
27.0%
2.0%
2.0%
0% 100.0%
% of Homes