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 4,487, 1,952 total housing units (homes and apartments), and a median house value of $940,215, Narberth house prices are not only among the most expensive in Pennsylvania, Narberth real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Narberth, accounting for 44.96% of the borough's housing units. Other types of housing that are prevalent in Narberth include large apartment complexes or high rise apartments ( 25.08%), row houses and other attached homes ( 16.63%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 13.33%).
The most prevalent building size and type in Narberth are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 55.94% owning and 44.06% renting.
The housing in Narberth was primarily built before 1939 ( 64.85%), making the housing stock in Narberth some of the oldest overall in America, although there is a range of ages of homes in Narberth. The next most important housing age is between 1940-1969 ( 23.55%), followed by between 1970-1999 ( 9.92%). There's also some housing in Narberth built between 2000 and later ( 1.68%).
Appreciation rates for homes in Narberth have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 90.16%, which ranks in the top 50% nationwide. This equates to an annual average Narberth house appreciation rate of 6.64%.
Appreciation rates are so strong in Narberth that despite a nationwide downturn in the housing market, Narberth real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Narberth appreciation rates continue to be some of the highest in America, at 11.39%, which is higher than appreciation rates in 92.21% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Narberth. Narberth 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 Narberth's latest annual appreciation rate is higher than 90% of the other cities and towns in Pennsylvania.
$940,215
$3,008 / per month