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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.



Farrell, 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

Farrell, PA Housing Market Trends

With a population of 4,197, 1,976 total housing units (homes and apartments), and a median house value of $102,166, house prices in Farrell are some of the most affordable in Pennsylvania as well as the nation.

Single-family detached homes are the single most common housing type in Farrell, accounting for 70.48% of the city's housing units. Other types of housing that are prevalent in Farrell include duplexes, homes converted to apartments or other small apartment buildings ( 21.45%), row houses and other attached homes ( 4.08%), and a few large apartment complexes or high rise apartments ( 3.58%).

The most prevalent building size and type in Farrell are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 59.11% owning and 40.89% 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. Farrell's housing was primarily built during this period, from the '40s through the '60s. A full 39.68% of the city's housing hails from this era. Other housing ages represented in Farrell include homes built between 1970-1999 ( 28.84%) and housing constructed before 1939 ( 26.94%). There's also some housing in Farrell built between 2000 and later ( 4.54%).

Vacant housing appears to be an issue in Farrell. Fully 10.39% of the housing stock is classified as vacant. Left unchecked, vacant Farrell homes and apartments can be a drag on the real estate market, holding Farrell 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.

Farrell Home Appreciation Rates

Real estate appreciation rates in Farrell's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.38% during the period.

NeighborhoodScout's data show that during the latest twelve months, Farrell's appreciation rate, at 5.42%, has been at or slightly above the national average. In the latest quarter, Farrell's appreciation rate has been 2.48%, which annualizes to a rate of 10.29%.

Relative to Pennsylvania, our data show that Farrell's latest annual appreciation rate is lower than 60% of the other cities and towns in Pennsylvania.

Average Home Values

Median Home Value

$102,166

Farrell, PA Home Prices
> $1,289,000
$967,001 - $1,289,000
$644,001 - $967,000
$516,001 - $644,000
$387,001 - $516,000
$258,001 - $387,000
$129,001 - $258,000
$64,001 - $129,000
$0 - $64,000
0.0%
0.0%
0.0%
0.0%
0.4%
0.4%
0.0%
0.0%
1.7%
1.7%
5.1%
5.1%
18.5%
18.5%
42.6%
42.6%
31.7%
31.7%
0% 100.0%
% of Homes
Very Low

for Pennsylvania

Very Low

for nation

Number of Homes And Apartments:

1,976

Farrell Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,005 / per month

Homeownership Rate

Owners
Renters
59.1%
59.1%
40.9%
40.9%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
10.4%
10.4%
89.6%
89.6%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
4.5%
4.5%
28.8%
28.8%
39.7%
39.7%
26.9%
26.9%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
70.5%
70.5%
4.1%
4.1%
21.5%
21.5%
3.6%
3.6%
0.4%
0.4%
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
1.3%
1.3%
6.7%
6.7%
40.6%
40.6%
41.1%
41.1%
9.9%
9.9%
0.4%
0.4%
0% 100.0%
% of Homes

Popular Neighborhoods in Farrell

Zip Codes in Farrell, PA