McKean County, Pennsylvania Housing Market Prices
McKean County 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 66% below the Pennsylvania median Among the top 5 cheapest counties in Pennsylvania$51,225
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Median rent 33% below the Pennsylvania median Cheaper than 73% of counties in Pennsylvania$809
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | McKean County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Median Home Price | $51,225 | $152,469 | $248,835 |
| Price Trend (Annual %) | -3.4% | 3.7% | 7.5% |
| Median Gross Rent | $809 | $1,208 | $1,407 |
| Rent Trend (Annual %) | 3.4% | 4.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in McKean County is about 66% lower than in Pennsylvania. Rent is about 33% lower than the Pennsylvania average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Home prices and rent are moving in opposite directions in McKean County: home prices fell about 3.4% a year while rent rose about 3.4% a year. That is an unusual pattern worth watching.
Median rent in McKean County rose about 35.5% between 2015 and 2024, from $597 to $809. Over the same span, rent in Pennsylvania rose about 43.9%.
Affordability
On average, housing unit costs 0.8 yearly household incomes in McKean County.
Buying the median-priced home in McKean County costs roughly 5.3 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 McKean County. The price-to-rent ratio in Pennsylvania is about 10.5.
| Metric | McKean County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Median Home Price | $51,225 | $152,469 | $248,835 |
| Median Household Income | $63,476 | $78,249 | $80,455 |
| Price-to-Income Ratio | 0.8 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in McKean County fell about 41.4%, while median household income rose about 50.4% 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 | McKean County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 65.6% | 63.0% | 58.5% |
| Rental Rate | 18.5% | 27.9% | 31.2% |
| Vacancy Rate | 15.9% | 9.1% | 10.2% |
| Median Tenure (years) | 20.0 | 17.0 | 15.0 |
| Median Year Moved In | 2006 | 2009 | 2011 |
McKean County has a homeownership rate of 65.6%, higher than the Pennsylvania average of 63.0%. Its housing vacancy rate is 15.9%, compared with 9.1% in Pennsylvania.
Housing Stock
| Metric | McKean County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.26 people | 2.39 people | 2.53 people |
| Median Structure Built Year | 1955 | 1966 | 1978 |
| Median Number of Rooms | 6.2 | 6.0 | 5.5 |
The typical housing unit in McKean County was built around 1955. On average, 2.3 people live in a home with about 6.2 rooms, staying for about 20.0 years on average.
McKean County, PA Housing Compared With Nearby Counties
McKean County, PA is typical in size for this group, 39,894 residents against a local median of 38,831, so the measures below are close to a like for like comparison. Where McKean County, PA breaks from the counties next to it is median home price, sitting 39% below the local median of $83,500 at $51,225.
The counties themselves spread $80,196 on median home price, so McKean County, PA sits at one end of an already wide local range rather than apart from it. McKean County, PA has the 4th highest median home price of the 5 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| McKean County, PA | 39,894 | $51,225 #4/5 | $809 #2/5 | 78.0% #4/5 |
| Elk County, PA | 30,506 | $21,366 | $718 | 79.5% |
| Cattaraugus County, NY | 76,141 | $101,562 | $770 | 75.2% |
| Potter County, PA | 16,191 | $69,994 | $809 | 79.7% |
| Allegany County, NY | 47,155 | $97,005 | $763 | 79.3% |
Frequently Asked Questions
Common questions about the housing market in McKean County, Pennsylvania.
What is the median home price in McKean County, Pennsylvania?
The median home price in McKean County, Pennsylvania is $51,225, lower than the Pennsylvania average of $152,469.
What is the average home price in McKean County, Pennsylvania?
The typical home price in McKean County, Pennsylvania, reported as the median sale price, is $51,225. 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 McKean County, Pennsylvania?
The median gross rent in McKean County, Pennsylvania is $809 per month, lower than the Pennsylvania average of $1,208.
What was the median gross rent in McKean County in 2020?
In 2020, the median gross rent in McKean County, Pennsylvania was $690 per month.
What is the price-to-rent ratio in McKean County, Pennsylvania?
The price-to-rent ratio in McKean County, Pennsylvania is about 5.3, meaning it would take roughly 5.3 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 McKean County.
Are home prices or rent rising faster in McKean County, Pennsylvania?
Home prices and rent are moving in opposite directions in McKean County: home prices fell about 3.4% a year while rent rose about 3.4% a year. That is an unusual pattern worth watching.
What is the homeownership rate in McKean County, Pennsylvania?
65.6% of households in McKean County, Pennsylvania own their home, higher than the Pennsylvania average of 63.0%.
What is the vacancy rate in McKean County, Pennsylvania?
The housing vacancy rate in McKean County, Pennsylvania is 15.9%, higher than the Pennsylvania average of 9.1%.
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