Altoona, Pennsylvania Housing Market Prices
Altoona Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 23% below the Pennsylvania median$117,184
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Median rent 32% below the Pennsylvania median$826
Housing Market Overview
| Metric | Altoona | Pennsylvania Avg | US Average |
|---|---|---|---|
| Median Home Price | $117,184 | $152,469 | $248,835 |
| Price Trend (Annual %) | 3.0% | 3.7% | 7.5% |
| Median Gross Rent | $826 | $1,208 | $1,407 |
| Rent Trend (Annual %) | 3.9% | 4.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Altoona is about 23% lower than in Pennsylvania. Rent is about 32% lower than the Pennsylvania average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Altoona, up about 3.0% and 3.9% a year respectively. Rent is changing faster.
Median rent in Altoona rose about 44.1% between 2015 and 2024, from $574 to $826. Over the same span, rent in Pennsylvania rose about 43.9%.
Affordability
On average, housing unit costs 2.3 yearly household incomes in Altoona.
Buying the median-priced home in Altoona costs roughly 11.8 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Altoona. The price-to-rent ratio in Pennsylvania is about 10.5.
| Metric | Altoona | Pennsylvania Avg | US Average |
|---|---|---|---|
| Median Home Price | $117,184 | $152,469 | $248,835 |
| Median Household Income | $51,563 | $78,249 | $80,455 |
| Price-to-Income Ratio | 2.3 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Altoona rose about 48.0%, while median household income rose about 46.6% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Altoona | Pennsylvania Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 56.0% | 63.0% | 58.5% |
| Rental Rate | 32.3% | 27.9% | 31.2% |
| Vacancy Rate | 11.8% | 9.1% | 10.2% |
| Median Tenure (years) | 16.0 | 17.0 | 15.0 |
| Median Year Moved In | 2010 | 2009 | 2011 |
Altoona has a homeownership rate of 56.0%, lower than the Pennsylvania average of 63.0%. Its housing vacancy rate is 11.8%, compared with 9.1% in Pennsylvania.
Housing Stock
| Metric | Altoona | Pennsylvania Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.24 people | 2.39 people | 2.53 people |
| Median Structure Built Year | 1947 | 1966 | 1978 |
| Median Number of Rooms | 6.2 | 6.0 | 5.5 |
The typical housing unit in Altoona was built around 1947. On average, 2.2 people live in a home with about 6.2 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Altoona, Pennsylvania.
What is the median home price in Altoona, Pennsylvania?
The median home price in Altoona, Pennsylvania is $117,184, lower than the Pennsylvania average of $152,469.
What is the average home price in Altoona, Pennsylvania?
The typical home price in Altoona, Pennsylvania, reported as the median sale price, is $117,184. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Altoona, Pennsylvania?
The median gross rent in Altoona, Pennsylvania is $826 per month, lower than the Pennsylvania average of $1,208.
What was the median gross rent in Altoona in 2020?
In 2020, the median gross rent in Altoona, Pennsylvania was $706 per month.
What is the price-to-rent ratio in Altoona, Pennsylvania?
The price-to-rent ratio in Altoona, Pennsylvania is about 11.8, meaning it would take roughly 11.8 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Altoona.
Are home prices or rent rising faster in Altoona, Pennsylvania?
Both home prices and rent are rising in Altoona, up about 3.0% and 3.9% a year respectively. Rent is changing faster.
What is the homeownership rate in Altoona, Pennsylvania?
56.0% of households in Altoona, Pennsylvania own their home, lower than the Pennsylvania average of 63.0%.
What is the vacancy rate in Altoona, Pennsylvania?
The housing vacancy rate in Altoona, Pennsylvania is 11.8%, higher than the Pennsylvania average of 9.1%.
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