Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Berks County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Median Home Price | $170,720 | $154,283 | $242,182 |
| Price Trend (Annual %) | 6.4% | 4.4% | 8.2% |
| Median Gross Rent | $1,143 | $1,161 | $1,342 |
| Rent Trend (Annual %) | 4.0% | 4.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Berks County is about 11% higher than in Pennsylvania. Rent is about 2% lower than the Pennsylvania average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Berks County, up about 6.4% and 4.0% a year respectively. Home prices are changing faster.
Median rent in Berks County rose about 34.3% between 2015 and 2023, from $851 to $1,143. Over the same span, rent in Pennsylvania rose about 38.3%.
Affordability
On average, housing unit costs 2.2 yearly household incomes in Berks County.
Buying the median-priced home in Berks County costs roughly 12.5 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 Berks County. The price-to-rent ratio in Pennsylvania is about 11.1.
| Metric | Berks County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Median Home Price | $170,720 | $154,283 | $242,182 |
| Median Household Income | $78,554 | $76,231 | $78,145 |
| Price-to-Income Ratio | 2.2 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Berks County rose about 49.4%, while median household income rose about 45.3% between 2009 and 2023 — 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 | Berks County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 67.1% | 62.8% | 58.2% |
| Rental Rate | 27.4% | 27.8% | 31.3% |
| Vacancy Rate | 5.5% | 9.4% | 10.6% |
| Median Tenure (years) | 17.0 | 17.0 | 15.0 |
| Median Year Moved In | 2009 | 2009 | 2011 |
Berks County has a homeownership rate of 67.1%, higher than the Pennsylvania average of 62.8%. Its housing vacancy rate is 5.5%, compared with 9.4% in Pennsylvania.
Housing Stock
| Metric | Berks County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.57 people | 2.40 people | 2.54 people |
| Median Structure Built Year | 1970 | 1965 | 1978 |
| Median Number of Rooms | 6.3 | 6.0 | 5.5 |
The typical housing unit in Berks County was built around 1970. On average, 2.6 people live in a home with about 6.3 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Berks County, Pennsylvania.
What is the median home price in Berks County, Pennsylvania?
The median home price in Berks County, Pennsylvania is $170,720, higher than the Pennsylvania average of $154,283.
What is the average home price in Berks County, Pennsylvania?
The typical home price in %s, reported as the median sale price, is %s. 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 Berks County, Pennsylvania?
The median gross rent in Berks County, Pennsylvania is $1,143 per month, lower than the Pennsylvania average of $1,161.
What was the median gross rent in Berks County in 2020?
In 2020, the median gross rent in Berks County, Pennsylvania was $950 per month.
What is the price-to-rent ratio in Berks County, Pennsylvania?
The price-to-rent ratio in Berks County, Pennsylvania is about 12.5, meaning it would take roughly 12.5 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 Berks County.
Are home prices or rent rising faster in Berks County, Pennsylvania?
Both home prices and rent are rising in Berks County, up about 6.4% and 4.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Berks County, Pennsylvania?
67.1% of households in Berks County, Pennsylvania own their home, higher than the Pennsylvania average of 62.8%.
What is the vacancy rate in Berks County, Pennsylvania?
The housing vacancy rate in Berks County, Pennsylvania is 5.5%, lower than the Pennsylvania average of 9.4%.