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 a population of 8,323, 3,442 total housing units (homes and apartments), and a median house value of $355,556, Mount Joy real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Mount Joy, accounting for 46.18% of the borough's housing units. Other types of housing that are prevalent in Mount Joy include row houses and other attached homes ( 19.29%), large apartment complexes or high rise apartments ( 15.83%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 15.04%).
The most prevalent building size and type in Mount Joy are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 61.93% owning and 38.07% renting.
The housing in Mount Joy was primarily built before 1939 ( 28.87%), making the housing stock in Mount Joy some of the oldest overall in America, although there is a range of ages of homes in Mount Joy. The next most important housing age is between 1970-1999 ( 27.26%), followed by between 2000 and later ( 25.51%). There's also some housing in Mount Joy built between 1940-1969 ( 18.36%).
Real estate appreciation rates in Mount Joy's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.48% during the period.
Appreciation rates are so strong in Mount Joy that despite a nationwide downturn in the housing market, Mount Joy real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Mount Joy appreciation rates continue to be some of the highest in America, at 9.24%, which is higher than appreciation rates in 82.45% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Mount Joy. Mount Joy appreciation rates in the latest quarter were at 3.45%, which equates to an annual appreciation rate of 14.52%.
Importantly, this makes Mount Joy 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 Mount Joy's latest annual appreciation rate is higher than 80% of the other cities and towns in Pennsylvania.
$355,556
for Pennsylvania
for nation
3,442
$1,697 / per month