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 | Montour County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Median Home Price | $633,928 | $154,283 | $242,182 |
| Price Trend (Annual %) | 10.4% | 4.4% | 8.2% |
| Median Gross Rent | $1,057 | $1,161 | $1,342 |
| Rent Trend (Annual %) | 6.1% | 4.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Montour County is about 311% higher than in Pennsylvania. Rent is about 9% lower 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 Montour County, up about 10.4% and 6.1% a year respectively. Home prices are changing faster.
Median rent in Montour County rose about 45.7% between 2015 and 2023, from $725 to $1,057. Over the same span, rent in Pennsylvania rose about 38.3%.
Affordability
On average, housing unit costs 8.6 yearly household incomes in Montour County.
Buying the median-priced home in Montour County costs roughly 50.0 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Montour County. The price-to-rent ratio in Pennsylvania is about 11.1.
| Metric | Montour County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Median Home Price | $633,928 | $154,283 | $242,182 |
| Median Household Income | $73,495 | $76,231 | $78,145 |
| Price-to-Income Ratio | 8.6 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Montour County rose about 89.9%, while median household income rose about 56.3% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Montour County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 63.5% | 62.8% | 58.2% |
| Rental Rate | 31.2% | 27.8% | 31.3% |
| Vacancy Rate | 5.3% | 9.4% | 10.6% |
| Median Tenure (years) | 18.0 | 17.0 | 15.0 |
| Median Year Moved In | 2008 | 2009 | 2011 |
Montour County has a homeownership rate of 63.5%, higher than the Pennsylvania average of 62.8%. Its housing vacancy rate is 5.3%, compared with 9.4% in Pennsylvania.
Housing Stock
| Metric | Montour County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.25 people | 2.40 people | 2.54 people |
| Median Structure Built Year | 1971 | 1965 | 1978 |
| Median Number of Rooms | 6.0 | 6.0 | 5.5 |
The typical housing unit in Montour County was built around 1971. On average, 2.2 people live in a home with about 6.0 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Montour County, Pennsylvania.
What is the median home price in Montour County, Pennsylvania?
The median home price in Montour County, Pennsylvania is $633,928, higher than the Pennsylvania average of $154,283.
What is the average home price in Montour 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 Montour County, Pennsylvania?
The median gross rent in Montour County, Pennsylvania is $1,057 per month, lower than the Pennsylvania average of $1,161.
What was the median gross rent in Montour County in 2020?
In 2020, the median gross rent in Montour County, Pennsylvania was $743 per month.
What is the price-to-rent ratio in Montour County, Pennsylvania?
The price-to-rent ratio in Montour County, Pennsylvania is about 50.0, meaning it would take roughly 50.0 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Montour County.
Are home prices or rent rising faster in Montour County, Pennsylvania?
Both home prices and rent are rising in Montour County, up about 10.4% and 6.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Montour County, Pennsylvania?
63.5% of households in Montour County, Pennsylvania own their home, higher than the Pennsylvania average of 62.8%.
What is the vacancy rate in Montour County, Pennsylvania?
The housing vacancy rate in Montour County, Pennsylvania is 5.3%, lower than the Pennsylvania average of 9.4%.