Olyphant, 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 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Olyphant, PA Housing Market Trends

With a population of 5,023, 2,280 total housing units (homes and apartments), and a median house value of $146,925, house prices in Olyphant are solidly below the national average.

Single-family detached homes are the single most common housing type in Olyphant, accounting for 67.03% of the borough's housing units. Other types of housing that are prevalent in Olyphant include large apartment complexes or high rise apartments ( 17.01%), duplexes, homes converted to apartments or other small apartment buildings ( 14.80%), and a few row houses and other attached homes ( 1.17%).

The most prevalent building size and type in Olyphant are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 60.03% owning and 39.97% renting.

There is a lot of housing in Olyphant 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 Olyphant built before 1939 ( 31.61%). A lesser amount of the housing stock also hails from between 1940-1969 ( 26.91%). There's also some housing in Olyphant built between 2000 and later ( 8.62%).

Vacant housing appears to be an issue in Olyphant. Fully 11.46% of the housing stock is classified as vacant. Left unchecked, vacant Olyphant homes and apartments can be a drag on the real estate market, holding Olyphant 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.

Olyphant Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Olyphant, where house values have increased just 15.18%, which is annualized rate of 1.42%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

Appreciation rates are so strong in Olyphant that despite a nationwide downturn in the housing market, Olyphant real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Olyphant appreciation rates continue to be some of the highest in America, at 11.86%, which is higher than appreciation rates in 83.03% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Olyphant. Olyphant appreciation rates in the latest quarter were at 2.70%, which equates to an annual appreciation rate of 11.26%.

Relative to Pennsylvania, our data show that Olyphant's latest annual appreciation rate is higher than 90% of the other cities and towns in Pennsylvania.

Average Home Values

 

Median Home Value:
$146,925

Olyphant, PA HOME PRICES

> $1,120,000
0.0%
0.0%
$840,001 - $1,120,000
0.0%
0.0%
$560,001 - $840,000
0.0%
0.0%
$448,001 - $560,000
0.0%
0.0%
$336,001 - $448,000
6.4%
6.4%
$224,001 - $336,000
13.6%
13.6%
$112,001 - $224,000
47.7%
47.7%
$56,001 - $112,000
27.4%
27.4%
$0 - $56,000
4.9%
4.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

Low for Nation

Low for PA

Value Relative To Nation

Number Of Homes And Apartments:
2,280

Olyphant Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
PA*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
49.39% 1.88%
2
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,069 / per month

Homeownership Rate

Owners
60.0%
60.0%
Renters
40.0%
40.0%
Vacant
11.5%
11.5%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
8.6%
8.6%
1970 - 1999
32.9%
32.9%
1940 - 1969
26.9%
26.9%
1939 or Older
31.6%
31.6%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
67.0%
67.0%
Townhomes
1.2%
1.2%
Small Apt. Buildings
14.8%
14.8%
Apt. Complexes
17.0%
17.0%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.6%
2.6%
1 Bedroom
13.6%
13.6%
2 Bedrooms
19.6%
19.6%
3 Bedrooms
49.1%
49.1%
4 Bedrooms
12.9%
12.9%
5 or more bedrooms
2.3%
2.3%
0.0% 100.0%
% OF HOMES