Oil City, PA is a great place to buy a home. The median value of housing there is $73,900, which is significantly lower than the US median of $338,100. This makes it an attractive place for first-time homebuyers who may not have the budget to purchase a more expensive property. Additionally, the one-year house appreciation rate in Oil City is 10.35%, which is higher than the national average of 8.27%. This suggests that buying a home in this area would be a wise investment decision for those looking to build their equity and wealth over time.
The median home cost in Oil City (zip 16301) is $73,900. Home appreciation the last 10 years has been 51.5%. Home Appreciation in Oil City (zip 16301) is up 14.3%.
Average Age of Homes
- The median age of Oil City (zip 16301) real estate is 76 years old
The Rental Market in Oil City (zip 16301)
- Renters make up 24.1% of the Oil City (zip 16301) population
- 2.5% of houses and apartments in Oil City (zip 16301), are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.