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There's a the age old question everyone thinks about when they decide to move to a city in Pennsylvania:
Should I buy a place or rent? Well, we aren't here today to solve that problem for you exactly. We are just assuming you'll do the right thing and a buy a place. And while we are happy to tell you the best place to live in Pennsylvania, this analysis is going to tackle the question of the best place to buy a house as an investor. That is we are going to try and determine the up and coming cities in the Keystone State.
To do that we are going to look at places in Pennsylvania that are growing faster than average, but where home prices are below average. In every day terms, the "deals". The best deal in Pennsylvania at the moment? That would be Kut according to our analysis.
Here's a look at the top ten places to buy a home in pennsylvania for 2020:
- Kut (Homes For Sale)
- Sugarcreek (Photos | Homes For Sale)
- Bridgeville (Photos | Homes For Sale)
- Olyphant (Photos | Homes For Sale)
- Birdsboro (Photos | Homes For Sale)
- Collegeville (Photos | Homes For Sale)
- Schuylkill Haven (Photos | Homes For Sale)
- Bangor (Photos | Homes For Sale)
- Turtle Creek (Photos | Homes For Sale)
- Tyrone (Photos | Homes For Sale)
What's the best place to buy a home in Pennsylvania for 2020? According to our analysis, would the the ideal place to buy a home looking into the future.
The methodology that wen't into this can be a bit complicated, so we'll break it down for you in as much detail as we can below. If you're not worried about finding a deal on good places to live, check out the most expensive places to live in pennsylvania and, for those of you on a budget, the cheapest places to live in pennsylvania.
For more Pennsylvania reading, check out:
- These Are The 10 Best Counties To Live In Pennsylvania
- 10 Best Places To Raise A Family In Pennsylvania
- These Are The 10 Best Places To Retire In Pennsylvania
The 10 Best Cities To Buy A House In Pennsylvania For 2020
The village that eventually became Bridgeville acquired its name because of the first bridge built at the crossing of Chartiers Creek at the south end of what is now Washington Avenue.
Birdsboro was named for ironmaker William Bird, who established a forge on Hay Creek about 1740. His son Marcus founded Hopewell Furnace in 1771, which was the largest domestic producer of iron by the time of the American Revolution. The Schuylkill Canal, running parallel to the river, was completed in 1827. The Philadelphia and Reading Railroad, constructed to haul anthracite coal, was completed in 1843. Edward and George Brooke, descendants of the Birds, established the Birdsboro Iron Foundry Company, which became Birdsboro Steel Company. The principal employer for 120 years, the steel plant closed in 1988, following a lengthy strike.
The village was originally known as Perkiomen Bridge and later as Freeland. In 1869 the German Reformed Church founded Ursinus College just outside Freeland, and the village changed its name to Collegeville. The Perkiomen Bridge and Perkiomen Bridge Hotel are listed on the National Register of Historic Places.
The borough was settled about 1760 and first incorporated in 1875. The founder and first Chief Burgess of Bangor was Robert M. Jones, an emigrant from Bangor, Wales. He was the prime mover in the establishment of the slate industry in Northampton County. Slate quarries pepper the area, but only a few are still functioning. A life-sized statue of him, dedicated on September 24, 1914, remains in the town center. In the official program for the unveiling it states "... Mr. Jones in his prime had many charming qualities, chief among which was his constant optimistic disposition."
The Tyrone Borough Historic District was added to the National Register of Historic Places in 1993.
How do you determine the best places to buy a home in pennsylvania for 2020?
We were in real estate for almost five years and have been working on this site for another three. Suffice is to say, we've put a lot of thought into what goes into finding a good place to buy a home.
So all that thinking has come to this moment where we get to spell out how we'd approach finding an up-and-coming place to live in Pennsylvania. Put differently, the analysis will try to find places in Pennsylvania with undervalued homes relative to pent up demand.
To do that we looked at the most recent American Community Survey Census data for 2014-2018 and compared it to the previous vintage (2012-2016). Specifically, we used the following criteria:
- Y-o-Y Change In Population (People want to live here)
- Y-o-Y Change In Median Home Prices (People are willing to pay for it)
- Home Prices Relative To The State Average (It's still kinda cheap)
We want places that are growing, have seen home prices increase in recent years, and are still "cheap" for Pennsylvania with the following caveats:
- Home prices had to be within 20% of the state average (Much lower than that and you get to some of the more dangerous places)
- Home prices increased in the last year, and
- Above 5,000 people (Bigger cities have more data points)
So of the 0 cities and towns in Pennsylvania, only 186 places made it through our initial filters to even be considered.
We then ranked each place from 1 to 186 for the criteria mentioned above with 1 being the best for that criteria. We averaged the rankings to create a "best place to buy" index with the place having the lowest index being the best. You can download the data here.
Turns out that Kut is the best potential gem in the not-so-rough in the Keystone State.
Read on for more on these places.
There You Have It - The Best Places To Purchase A House In pennsylvania for 2020
There's our analysis of the best places to buy a house in Pennsylvania. And, to be clear, we aren't necessarily saying these places are the best places to live, just that it looks like they might be in a couple of years based on the data.
In fact, every place in the following table meets our criteria, so even though it may not look super long, remember we started off with all 0 places in the state.
So if we'd could rent or buy in these cities, we'd definitely buy.
For more pennsylvania reading, check out: