Cities with the most expensive homes in the Lebanon metro area
Purchasing a home is one of the most important investments there is. More than a place to live, homeownership is an asset with the potential to tremendously rise in value. But with home prices reaching record heights, affordability plays a huge role for buyers.
The typical home value in the United States was $355,696 in March, 4.6% higher than the year before.
High mortgage rates are also making monthly payments more expensive; as of May 2, the 30-year fixed mortgage rate sits at 7.22%.Although home prices have inflated all across the U.S., there are some cities that command a higher price tag than others. Location, size, age, and condition are all contributing factors to home value.
Stacker compiled a list of cities with the most expensive homes in the Lebanon metro area using data from Zillow. Charts show the monthly typical home value since January 2018. All 7 cities and towns with data available were included in the list.
#7. Lebanon, PA
- Typical home value: $252,615
- 1-year price change: +7.6%
- 5-year price change: +57.1%
#6. Myerstown, PA
- Typical home value: $282,660
- 1-year price change: +4.6%
- 5-year price change: +44.6%
#5. Jonestown, PA
- Typical home value: $288,285
- 1-year price change: +5.7%
- 5-year price change: +47.4%
#4. Newmanstown, PA
- Typical home value: $304,003
- 1-year price change: +5.3%
- 5-year price change: +47.3%
#3. Palmyra, PA
- Typical home value: $314,047
- 1-year price change: +5.3%
- 5-year price change: +45.6%
#2. Fredericksburg, PA
- Typical home value: $315,782
- 1-year price change: +5.7%
- 5-year price change: +48.8%
#1. Mount Gretna, PA
- Typical home value: $376,799
- 1-year price change: +9.8%
- 5-year price change: +46.6%
This story features data reporting and writing by Elena Cox and is part of a series utilizing data automation across 379 metros.
