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 | Indiana County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Median Home Price | $95,491 | $154,283 | $242,182 |
| Price Trend (Annual %) | -0.8% | 4.4% | 8.2% |
| Median Gross Rent | $785 | $1,161 | $1,342 |
| Rent Trend (Annual %) | 1.6% | 4.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Indiana County is about 38% lower than in Pennsylvania. Rent is about 32% 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 Indiana County: home prices fell about 0.8% a year while rent rose about 1.6% a year. That is an unusual pattern worth watching.
Median rent in Indiana County rose about 13.3% between 2015 and 2023, from $693 to $785. Over the same span, rent in Pennsylvania rose about 38.3%.
Affordability
On average, housing unit costs 1.6 yearly household incomes in Indiana County.
Buying the median-priced home in Indiana County costs roughly 10.1 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 Indiana County. The price-to-rent ratio in Pennsylvania is about 11.1.
| Metric | Indiana County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Median Home Price | $95,491 | $154,283 | $242,182 |
| Median Household Income | $58,857 | $76,231 | $78,145 |
| Price-to-Income Ratio | 1.6 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Indiana County fell about 24.1%, while median household income rose about 52.2% 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 | Indiana County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 61.0% | 62.8% | 58.2% |
| Rental Rate | 24.8% | 27.8% | 31.3% |
| Vacancy Rate | 14.3% | 9.4% | 10.6% |
| Median Tenure (years) | 20.0 | 17.0 | 15.0 |
| Median Year Moved In | 2006 | 2009 | 2011 |
Indiana County has a homeownership rate of 61.0%, lower than the Pennsylvania average of 62.8%. Its housing vacancy rate is 14.3%, compared with 9.4% in Pennsylvania.
Housing Stock
| Metric | Indiana County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.41 people | 2.40 people | 2.54 people |
| Median Structure Built Year | 1966 | 1965 | 1978 |
| Median Number of Rooms | 5.8 | 6.0 | 5.5 |
The typical housing unit in Indiana County was built around 1966. On average, 2.4 people live in a home with about 5.8 rooms, staying for about 20.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Indiana County, Pennsylvania.
What is the median home price in Indiana County, Pennsylvania?
The median home price in Indiana County, Pennsylvania is $95,491, lower than the Pennsylvania average of $154,283.
What is the average home price in Indiana 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 Indiana County, Pennsylvania?
The median gross rent in Indiana County, Pennsylvania is $785 per month, lower than the Pennsylvania average of $1,161.
What was the median gross rent in Indiana County in 2020?
In 2020, the median gross rent in Indiana County, Pennsylvania was $697 per month.
What is the price-to-rent ratio in Indiana County, Pennsylvania?
The price-to-rent ratio in Indiana County, Pennsylvania is about 10.1, meaning it would take roughly 10.1 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 Indiana County.
Are home prices or rent rising faster in Indiana County, Pennsylvania?
Home prices and rent are moving in opposite directions in Indiana County: home prices fell about 0.8% a year while rent rose about 1.6% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Indiana County, Pennsylvania?
61.0% of households in Indiana County, Pennsylvania own their home, lower than the Pennsylvania average of 62.8%.
What is the vacancy rate in Indiana County, Pennsylvania?
The housing vacancy rate in Indiana County, Pennsylvania is 14.3%, higher than the Pennsylvania average of 9.4%.