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 16,077 people, 7,631 houses or apartments, and a median cost of homes of $204,592, house prices in Hermitage are solidly below the national average.
Single-family detached homes are the single most common housing type in Hermitage, accounting for 70.59% of the city's housing units. Other types of housing that are prevalent in Hermitage include large apartment complexes or high rise apartments ( 15.85%), row houses and other attached homes ( 6.05%), and a few mobile homes or trailers ( 4.20%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Hermitage. Owner-occupied housing accounts for 71.02% of Hermitage's homes, and 61.01% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Hermitage built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Hermitage built between 1940-1969 ( 40.00%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.00%). There's also some housing in Hermitage built before 1939 ( 5.96%).
Real estate appreciation rates in Hermitage's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.87% during the period.
Appreciation rates are so strong in Hermitage that despite a nationwide downturn in the housing market, Hermitage real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Hermitage appreciation rates continue to be some of the highest in America, at 8.61%, which is higher than appreciation rates in 76.92% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Hermitage. Hermitage appreciation rates in the latest quarter were at 2.48%, which equates to an annual appreciation rate of 10.29%.
Relative to Pennsylvania, our data show that Hermitage's latest annual appreciation rate is higher than 70% of the other cities and towns in Pennsylvania.
$204,592
for Pennsylvania
for nation
7,631
$1,265 / per month