Pennsylvania Housing Market Prices
Pennsylvania 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 39% below the US median Cheaper than 73% of states in US$152,469
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Median rent 14% below the US median$1,208
Median Home Price Map: Counties in Pennsylvania
Housing Market Overview
| Metric | Pennsylvania | US Average |
|---|---|---|
| Median Home Price | $152,469 | $248,835 |
| Price Trend (Annual %) | 3.7% | 7.5% |
| Median Gross Rent | $1,208 | $1,407 |
| Rent Trend (Annual %) | 4.4% | 5.1% |
| Household Income Trend (Annual %) | — | — |
The median home price in Pennsylvania is about 39% lower than in US. Rent is about 14% lower than the US 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 Pennsylvania, up about 3.7% and 4.4% a year respectively. Rent is changing faster.
Median rent in Pennsylvania rose about 43.9% between 2015 and 2024, from $840 to $1,208. Over the same span, rent in US rose about 52.1%.
Affordability
On average, housing unit costs 1.9 yearly household incomes in Pennsylvania.
Buying the median-priced home in Pennsylvania costs roughly 10.5 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 Pennsylvania. The price-to-rent ratio in US is about 14.7.
| Metric | Pennsylvania | US Average |
|---|---|---|
| Median Home Price | $152,469 | $248,835 |
| Median Household Income | $78,249 | $80,455 |
| Price-to-Income Ratio | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Pennsylvania rose about 31.8%, while median household income rose about 53.1% between 2009 and 2025 — 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 | Pennsylvania | US Average |
|---|---|---|
| Homeownership Rate | 63.0% | 58.5% |
| Rental Rate | 27.9% | 31.2% |
| Vacancy Rate | 9.1% | 10.2% |
| Median Tenure (years) | 17.0 | 15.0 |
| Median Year Moved In | 2009 | 2011 |
Pennsylvania has a homeownership rate of 63.0%, higher than the US average of 58.5%. Its housing vacancy rate is 9.1%, compared with 10.2% in US.
Housing Stock
| Metric | Pennsylvania | US Average |
|---|---|---|
| Average Household Size | 2.39 people | 2.53 people |
| Median Structure Built Year | 1966 | 1978 |
| Median Number of Rooms | 6.0 | 5.5 |
The typical housing unit in Pennsylvania was built around 1966. On average, 2.4 people live in a home with about 6.0 rooms, staying for about 17.0 years on average.
Pennsylvania Housing Compared With Nearby States
Pennsylvania is the 2nd largest of the 6 states compared here, 13,004,688 residents against a local median of 6,204,886. Where Pennsylvania breaks from the states next to it is median home price, sitting 57% below the local median of $352,792 at $152,469.
Median rent tells the same story from another angle: $1,208 against a local median of $1,704, 29% below it. The states themselves spread $354,199 on median home price, so Pennsylvania sits at one end of an already wide local range rather than apart from it. Pennsylvania has the 6th highest median home price of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Pennsylvania | 13,004,688 | $152,469 #6/6 | $1,208 #6/6 | 69.3% #2/6 |
| District of Columbia | 678,314 | $597,276 | $1,953 | 41.5% |
| Maryland | 6,204,886 | $267,101 | $1,704 | 67.6% |
| New York | 19,748,855 | $471,885 | $1,621 | 54.3% |
| Delaware | 1,017,061 | $243,076 | $1,401 | 72.9% |
| New Jersey | 9,334,304 | $352,792 | $1,719 | 63.8% |
Frequently Asked Questions
Common questions about the housing market in Pennsylvania.
What is the median home price in Pennsylvania?
The median home price in Pennsylvania is $152,469, lower than the US average of $248,835.
What is the average home price in Pennsylvania?
The typical home price in Pennsylvania, reported as the median sale price, is $152,469. 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 Pennsylvania?
The median gross rent in Pennsylvania is $1,208 per month, lower than the US average of $1,407.
What was the median gross rent in Pennsylvania in 2020?
In 2020, the median gross rent in Pennsylvania was $957 per month.
What is the price-to-rent ratio in Pennsylvania?
The price-to-rent ratio in Pennsylvania is about 10.5, meaning it would take roughly 10.5 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 Pennsylvania.
Are home prices or rent rising faster in Pennsylvania?
Both home prices and rent are rising in Pennsylvania, up about 3.7% and 4.4% a year respectively. Rent is changing faster.
What is the homeownership rate in Pennsylvania?
63.0% of households in Pennsylvania own their home, higher than the US average of 58.5%.
What is the vacancy rate in Pennsylvania?
The housing vacancy rate in Pennsylvania is 9.1%, lower than the US average of 10.2%.
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