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 | Bradford County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Median Home Price | $124,073 | $154,283 | $242,182 |
| Price Trend (Annual %) | -0.5% | 4.4% | 8.2% |
| Median Gross Rent | $867 | $1,161 | $1,342 |
| Rent Trend (Annual %) | 3.6% | 4.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Bradford County is about 20% lower than in Pennsylvania. Rent is about 25% lower than the Pennsylvania average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Home prices and rent are moving in opposite directions in Bradford County: home prices fell about 0.5% a year while rent rose about 3.6% a year. That is an unusual pattern worth watching.
Median rent in Bradford County rose about 29.0% between 2015 and 2023, from $672 to $867. Over the same span, rent in Pennsylvania rose about 38.3%.
Affordability
On average, housing unit costs 2.0 yearly household incomes in Bradford County.
Buying the median-priced home in Bradford County costs roughly 11.9 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 Bradford County. The price-to-rent ratio in Pennsylvania is about 11.1.
| Metric | Bradford County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Median Home Price | $124,073 | $154,283 | $242,182 |
| Median Household Income | $63,202 | $76,231 | $78,145 |
| Price-to-Income Ratio | 2.0 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Bradford County rose about 4.0%, while median household income rose about 61.0% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Bradford County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 60.1% | 62.8% | 58.2% |
| Rental Rate | 23.1% | 27.8% | 31.3% |
| Vacancy Rate | 16.8% | 9.4% | 10.6% |
| Median Tenure (years) | 19.0 | 17.0 | 15.0 |
| Median Year Moved In | 2007 | 2009 | 2011 |
Bradford County has a homeownership rate of 60.1%, lower than the Pennsylvania average of 62.8%. Its housing vacancy rate is 16.8%, compared with 9.4% in Pennsylvania.
Housing Stock
| Metric | Bradford County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.42 people | 2.40 people | 2.54 people |
| Median Structure Built Year | 1964 | 1965 | 1978 |
| Median Number of Rooms | 6.1 | 6.0 | 5.5 |
The typical housing unit in Bradford County was built around 1964. On average, 2.4 people live in a home with about 6.1 rooms, staying for about 19.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Bradford County, Pennsylvania.
What is the median home price in Bradford County, Pennsylvania?
The median home price in Bradford County, Pennsylvania is $124,073, lower than the Pennsylvania average of $154,283.
What is the average home price in Bradford 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 Bradford County, Pennsylvania?
The median gross rent in Bradford County, Pennsylvania is $867 per month, lower than the Pennsylvania average of $1,161.
What was the median gross rent in Bradford County in 2020?
In 2020, the median gross rent in Bradford County, Pennsylvania was $736 per month.
What is the price-to-rent ratio in Bradford County, Pennsylvania?
The price-to-rent ratio in Bradford County, Pennsylvania is about 11.9, meaning it would take roughly 11.9 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 Bradford County.
Are home prices or rent rising faster in Bradford County, Pennsylvania?
Home prices and rent are moving in opposite directions in Bradford County: home prices fell about 0.5% a year while rent rose about 3.6% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Bradford County, Pennsylvania?
60.1% of households in Bradford County, Pennsylvania own their home, lower than the Pennsylvania average of 62.8%.
What is the vacancy rate in Bradford County, Pennsylvania?
The housing vacancy rate in Bradford County, Pennsylvania is 16.8%, higher than the Pennsylvania average of 9.4%.