Morrisville, PA Real Estate Market
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
Morrisville, PA Housing Market Trends
With 9,721 people, 3,978 houses or apartments, and a median cost of homes of $405,133, Morrisville real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Morrisville, accounting for 66.48% of the borough's housing units. Other types of housing that are prevalent in Morrisville include large apartment complexes or high rise apartments ( 15.13%), row houses and other attached homes ( 9.85%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.54%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Morrisville. Owner-occupied housing accounts for 68.32% of Morrisville's homes, and 58.33% 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. Morrisville's housing was primarily built during this period, from the '40s through the '60s. A full 47.16% of the borough's housing hails from this era. Other housing ages represented in Morrisville include homes built before 1939 ( 34.79%) and housing constructed between 1970-1999 ( 16.06%). There's also some housing in Morrisville built between 2000 and later ( 1.99%).
Morrisville Home Appreciation Rates
Morrisville's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Morrisville during the period has been just 5.30%, which is lower than 70% of US communities.
Appreciation rates are so strong in Morrisville that despite a nationwide downturn in the housing market, Morrisville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Morrisville appreciation rates continue to be some of the highest in America, at 8.08%, which is higher than appreciation rates in 71.09% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Morrisville. Morrisville appreciation rates in the latest quarter were at 1.44%, which equates to an annual appreciation rate of 5.90%.
Relative to Pennsylvania, our data show that Morrisville's latest annual appreciation rate is higher than 70% of the other cities and towns in Pennsylvania.
One very important thing to keep in mind is that these are average appreciation rates for the borough. Individual neighborhoods within Morrisville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Morrisville - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Morrisville real estate investment or home purchase decisions.
Median Home Value
$405,133
Very High
for Pennsylvania
High
for nation
Number of Homes And Apartments:
3,978
PA
America
2024 Q1 - 2024 Q2
2023 Q2 - 2024 Q2
2022 Q2 - 2024 Q2
2019 Q2 - 2024 Q2
2014 Q2 - 2024 Q2
2000 Q1 - 2024 Q2
Average Market Rent:
$2,188 / per month