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 $360,385 in October, 2.4% higher than the year before.
High mortgage rates are also making monthly payments more expensive; as of November 14, the 30-year fixed mortgage rate sits at 6.78%.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: $256,589
- 1-year price change: +5.5%
- 5-year price change: +53.3%
#6. Myerstown, PA
- Typical home value: $289,381
- 1-year price change: +4.2%
- 5-year price change: +41.6%
#5. Jonestown, PA
- Typical home value: $293,117
- 1-year price change: +3.6%
- 5-year price change: +45.8%
#4. Newmanstown, PA
- Typical home value: $306,939
- 1-year price change: +4.0%
- 5-year price change: +44.9%
#3. Fredericksburg, PA
- Typical home value: $318,519
- 1-year price change: +4.4%
- 5-year price change: +47.4%
#2. Palmyra, PA
- Typical home value: $319,486
- 1-year price change: +3.7%
- 5-year price change: +44.7%
#1. Mount Gretna, PA
- Typical home value: $384,138
- 1-year price change: +6.6%
- 5-year price change: +48.5%