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 3,956, 1,706 total housing units (homes and apartments), and a median house value of $302,679, Trout Run 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 Trout Run, accounting for 86.41% of the town's housing units. Other types of housing that are prevalent in Trout Run include mobile homes or trailers ( 11.69%), duplexes, homes converted to apartments or other small apartment buildings ( 1.22%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Trout Run. Owner-occupied housing accounts for 88.57% of Trout Run's homes, and 57.25% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Trout Run 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 Trout Run built before 1939 ( 27.26%). A lesser amount of the housing stock also hails from between 1940-1969 ( 17.44%). There's also some housing in Trout Run built between 2000 and later ( 11.94%).
Vacant housing appears to be an issue in Trout Run. Fully 34.60% of the housing stock is classified as vacant. Left unchecked, vacant Trout Run homes and apartments can be a drag on the real estate market, holding Trout Run 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.
Trout Run's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Trout Run during the period has been just 5.27%, which is lower than 70% of US communities.
Appreciation rates are so strong in Trout Run that despite a nationwide downturn in the housing market, Trout Run real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Trout Run appreciation rates continue to be some of the highest in America, at 11.60%, which is higher than appreciation rates in 92.68% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Trout Run. Trout Run appreciation rates in the latest quarter were at 4.02%, which equates to an annual appreciation rate of 17.09%.
Importantly, this makes Trout Run one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to Pennsylvania, our data show that Trout Run's latest annual appreciation rate is higher than 90% of the other cities and towns in Pennsylvania.
$302,679
for Pennsylvania
for nation
1,706
$1,247 / per month