Lehigh County Housing Price Trends: A 5-Year Analysis

The last five years have seen significant shifts in housing prices, impacting both entry-level and higher-priced homes. Let's take a closer look at the trends in housing prices from 2019 to 2023:

Overview of Price Measures

• Average vs. Median: Across the board, both average and median prices have shown a steady increase each year, indicating a general uptrend in housing costs.

• Percentiles: The 25th and 75th percentiles are crucial in understanding changes in lower-priced and higher-priced houses, respectively. These segments reveal insights into affordability and premium housing trends.

Segment-Specific Analysis

Lower-Priced Houses (25th Percentile)

• Price Movement: The 25th percentile, representing lower-priced homes, witnessed a consistent rise from $145,000 in 2019 to $229,900 in 2023.

• Percentage Increase: This segment surged by approximately 58.90% over the five-year period, indicating substantial challenges in affordability for entry-level housing.

Higher-Priced Houses (75th Percentile)

• Price Movement: The 75th percentile, indicating higher-priced houses, increased from $285,000 in 2019 to $425,665 in 2023.

• Percentage Increase: This segment saw a growth of about 49.34% over the same period, signaling a notable rise in the cost of more expensive homes.

Comparative Insights

• Affordability Challenges: While both segments experienced significant hikes, the percentage increase in lower-priced homes surpassed that of higher-priced ones.

• Trend Observations: The consistent upward trajectory in both segments highlights a widespread escalation in housing costs, impacting affordability across the board.

Conclusion

The data reflects a consistent trend of rising housing prices from 2019 to 2023, significantly affecting both entry-level and higher-end homes. The considerable percentage increase in lower-priced houses underscores heightened challenges in accessing affordable housing. These findings shed light on the evolving dynamics within the housing market, emphasizing the pressing need for solutions to address affordability concerns in diverse housing segments.