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 | Bucks County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Median Home Price | $325,870 | $154,283 | $242,182 |
| Price Trend (Annual %) | 4.4% | 4.4% | 8.2% |
| Median Gross Rent | $1,537 | $1,161 | $1,342 |
| Rent Trend (Annual %) | 4.4% | 4.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Bucks County is about 111% higher than in Pennsylvania. Rent is about 32% higher 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 Bucks County, up about 4.4% and 4.4% a year respectively. Home prices are changing faster.
Median rent in Bucks County rose about 35.3% between 2015 and 2023, from $1,137 to $1,537. Over the same span, rent in Pennsylvania rose about 38.3%.
Affordability
On average, housing unit costs 2.9 yearly household incomes in Bucks County.
Buying the median-priced home in Bucks County costs roughly 17.7 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Bucks County. The price-to-rent ratio in Pennsylvania is about 11.1.
| Metric | Bucks County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Median Home Price | $325,870 | $154,283 | $242,182 |
| Median Household Income | $112,368 | $76,231 | $78,145 |
| Price-to-Income Ratio | 2.9 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Bucks County rose about 40.2%, while median household income rose about 51.7% 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 | Bucks County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 75.4% | 62.8% | 58.2% |
| Rental Rate | 21.2% | 27.8% | 31.3% |
| Vacancy Rate | 3.4% | 9.4% | 10.6% |
| Median Tenure (years) | 18.0 | 17.0 | 15.0 |
| Median Year Moved In | 2008 | 2009 | 2011 |
Bucks County has a homeownership rate of 75.4%, higher than the Pennsylvania average of 62.8%. Its housing vacancy rate is 3.4%, compared with 9.4% in Pennsylvania.
Housing Stock
| Metric | Bucks County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.57 people | 2.40 people | 2.54 people |
| Median Structure Built Year | 1972 | 1965 | 1978 |
| Median Number of Rooms | 6.7 | 6.0 | 5.5 |
The typical housing unit in Bucks County was built around 1972. On average, 2.6 people live in a home with about 6.7 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Bucks County, Pennsylvania.
What is the median home price in Bucks County, Pennsylvania?
The median home price in Bucks County, Pennsylvania is $325,870, higher than the Pennsylvania average of $154,283.
What is the average home price in Bucks 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 Bucks County, Pennsylvania?
The median gross rent in Bucks County, Pennsylvania is $1,537 per month, higher than the Pennsylvania average of $1,161.
What was the median gross rent in Bucks County in 2020?
In 2020, the median gross rent in Bucks County, Pennsylvania was $1,252 per month.
What is the price-to-rent ratio in Bucks County, Pennsylvania?
The price-to-rent ratio in Bucks County, Pennsylvania is about 17.7, meaning it would take roughly 17.7 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Bucks County.
Are home prices or rent rising faster in Bucks County, Pennsylvania?
Both home prices and rent are rising in Bucks County, up about 4.4% and 4.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Bucks County, Pennsylvania?
75.4% of households in Bucks County, Pennsylvania own their home, higher than the Pennsylvania average of 62.8%.
What is the vacancy rate in Bucks County, Pennsylvania?
The housing vacancy rate in Bucks County, Pennsylvania is 3.4%, lower than the Pennsylvania average of 9.4%.