Pennsylvania Real Estate – The Keystone State
Known as the Keystone State, Pennsylvania is a hard working state. Depending on where you live, Pennsylvania real estate can be reasonable or pricey.
Pennsylvania is a state with an incredible amount of history battling with modern tendencies. Historically, the state is the home of such notable locations as Gettysburg and Valley Forge. For scenery, you can experience mountainous areas hosting elegant resort areas and wide open rural areas. In contract, the state is also home to Pittsburg and Philadelphia, two of the hardest working cities in the country.
Philadelphia is a microcosm of the clash of old and new in Pennsylvania. The first capital of the United States, Philadelphia is a big city with old world charm. The city was the location of the signing of both the Declaration of Independence and the Constitution and is favorite of history buffs. At the same time, the “City of Brotherly Love” has seen a development and economic resurgence since the 1980s and can be described as an economic powerhouse. As with many big cities, the town has top end attractions with fans being passionate about the Flyers, Eagles, Phillies and 76ers as well as college basketball.
Once considered the gateway to the West, Pittsburg sits at the meeting of three large rivers. Considered an industrial city because of a long history of steel manufacturing, the city is actually very pleasant and has even been voted the best city to live in by one publication. Today, the steel industry has lessened and the city is vibrant with college students, park areas and an active nightlife.
Often maligned, Eire is the hidden gem of Pennsylvania. A smallish town on Lake Erie, the town has a relaxed atmosphere, plenty of landscaping and nice beaches. Stretching from the town is huge park, which makes for excellent outdoor activities.
Pennsylvania Real Estate
As you might imagine, Pennsylvania real estate prices are both cheap and expensive depending on the location. A single-family home in Erie will average less than $200,000, while downtown Philadelphia is going to run close to $600,000. Surprisingly, the same home in Pittsburg will cost a very reasonable $250,000.
Pennsylvania real estate seems to mirror the national average for appreciation rates. In 2005, property appreciated at just over 13 percent.