Preforeclosure Homes in Oil City, PA

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$131,136 EMV

2 Bed | 2 Bath | 2,123 Sq. Ft.

5 W-1st-st-Oil-city-PA-16301
$60,039 EMV
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Home Value Estimator For Oil City, PA

There are currently 2,231 real estate properties in Oil City, PA, with a median automated valuation model (AVM) price of $69,000.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Oil City, PA, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Oil City, PA, is $84,246.00, with the most expensive house in Oil City, PA, topping out at $621,000.00 and the cheapest home in Oil City, PA, clocking in at $16,600.00. In other words, there’s something for every potential homebuyer or savvy investor in Oil City, PA!

Rent Prices In Oil City, PA

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Oil City, PA, is on a rollercoaster ride. The average rent price in Oil City, PA, is $849.00. Indeed, when looking to rent in Oil City, PA, you can expect to pay as little as $430.00 or as much as $1,800.00, with the average rent median estimated to be $800.00. The good news is that finding an affordable and desirable property to rent in Oil City, PA -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.

Foreclosure Homes in Oil City, PA

Find the best foreclosure homes listings for sale — bank-owned, government (Fannie Mae, Freddie Mac, HUD, etc.) and others — in and near the Oil City, PA area at Get information on foreclosure homes for rent, how to buy foreclosures in Oil City, PA and much more. Save thousands at closing with home foreclosure listings in Oil City, PA — up to 75% off market value!

Top Reasons To Live In Oil City, PA In 2023

Oil City is located in Venango, Pennsylvania, with an estimated municipal population of 9,618 residents. All of the best foreclosed homes for sale in Oil City are located in the following zip code areas on 16301. The estimated population per square kilometer (.62 miles) in Oil City is 826.

Cost Of Living In Oil City, PA

So, about how much do homes cost in Oil City? The most recent median value of resident-owned homes in Oil City is 51,491. An estimated 62.7 percent of households in Oil City own their homes, with an average family size of 2.99. The median household income in Oil City is 39,750, with10.6 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Oil City, the median commute time of resident workers (in minutes) is 20.1. And last, but certainly not least, are you looking for homes to rent in Oil City? If so, the average rent price paid by renters in Oil City is 612, according to recent statistics.

Diversity And Demographics In Oil City, Pennsylvania

Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Oil City, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.

The median age of residents in Oil City is 40.7, split between 48.5 percent male versus 51.5 female. The percentage of residents who report being married in Oil City is 39.4, with an average family size of 2.99.

The percentage of residents who report their race in Oil City is as follows:

White 97.1%
Black / African American 0.8%
Asian 0.1%
American Indian / Alaskan Native 0%
Native Hawaiian / Other Pacifc Islander 0%
Multi-racial 1.8%
Other 0.2%

Looking for family-friendly neighborhoods in and/or near Oil City? Or maybe you are searching for 55+ active adult communities in and/or near Oil City?

The percentage of residents who report their age in Oil City is as follows:

Under 10 11.7%
Aged 10-19 12.9%
20s 12.1%
30s 12.5%
40s 11.3%
50s 13.2%
60s 13.7%
70s 8.8%
80+ 3.7%

Best Schools In Oil City, Pennsylvania

It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Oil City with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Oil City.

Pros And Cons Of Living In Oil City, Pennsylvania

How do you know that living in -- or moving to -- Oil City is right where you need to be? Perhaps you grew up in Oil City or already live nearby; therefore, the decision to buy a home in Oil City is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Oil City for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.

Here are some questions to ask yourself when shopping for foreclosed homes for sale in Oil City:

  • What type of neighborhood environment (suburban, urban, rural, etc.) do you prefer?
  • What types of shopping (mom and pop, mall, big box), restaurants (fast food, chain, local) and businesses (small, big, mixed) would you like nearby?
  • What leisure-time activities (golf, biking, hiking, etc.) do you enjoy?
  • What type of commute (car, plane, home office) do you seek?

In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Oil City.

Reasons To Move To Oil City, Pennsylvania, In 2023

Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Oil City can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Oil City, meanwhile, can field multiple offers from more qualified buyers.

Oil City, PA Preforeclosure Homes


Listing types in Oil City, PA

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