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 | Perry County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Median Home Price | $166,831 | $154,283 | $242,182 |
| Price Trend (Annual %) | -0.9% | 4.4% | 8.2% |
| Median Gross Rent | $837 | $1,161 | $1,342 |
| Rent Trend (Annual %) | 1.9% | 4.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Perry County is about 8% higher than in Pennsylvania. Rent is about 28% 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 Perry County: home prices fell about 0.9% a year while rent rose about 1.9% a year. That is an unusual pattern worth watching.
Median rent in Perry County rose about 14.2% between 2015 and 2023, from $733 to $837. Over the same span, rent in Pennsylvania rose about 38.3%.
Affordability
On average, housing unit costs 2.1 yearly household incomes in Perry County.
Buying the median-priced home in Perry County costs roughly 16.6 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 Perry County. The price-to-rent ratio in Pennsylvania is about 11.1.
| Metric | Perry County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Median Home Price | $166,831 | $154,283 | $242,182 |
| Median Household Income | $79,120 | $76,231 | $78,145 |
| Price-to-Income Ratio | 2.1 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Perry County fell about 6.2%, while median household income rose about 53.0% 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 | Perry County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 73.5% | 62.8% | 58.2% |
| Rental Rate | 17.6% | 27.8% | 31.3% |
| Vacancy Rate | 8.9% | 9.4% | 10.6% |
| Median Tenure (years) | 19.0 | 17.0 | 15.0 |
| Median Year Moved In | 2007 | 2009 | 2011 |
Perry County has a homeownership rate of 73.5%, higher than the Pennsylvania average of 62.8%. Its housing vacancy rate is 8.9%, compared with 9.4% in Pennsylvania.
Housing Stock
| Metric | Perry County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.50 people | 2.40 people | 2.54 people |
| Median Structure Built Year | 1977 | 1965 | 1978 |
| Median Number of Rooms | 6.1 | 6.0 | 5.5 |
The typical housing unit in Perry County was built around 1977. On average, 2.5 people live in a home with about 6.1 rooms, staying for about 19.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Perry County, Pennsylvania.
What is the median home price in Perry County, Pennsylvania?
The median home price in Perry County, Pennsylvania is $166,831, higher than the Pennsylvania average of $154,283.
What is the average home price in Perry 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 Perry County, Pennsylvania?
The median gross rent in Perry County, Pennsylvania is $837 per month, lower than the Pennsylvania average of $1,161.
What was the median gross rent in Perry County in 2020?
In 2020, the median gross rent in Perry County, Pennsylvania was $758 per month.
What is the price-to-rent ratio in Perry County, Pennsylvania?
The price-to-rent ratio in Perry County, Pennsylvania is about 16.6, meaning it would take roughly 16.6 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 Perry County.
Are home prices or rent rising faster in Perry County, Pennsylvania?
Home prices and rent are moving in opposite directions in Perry County: home prices fell about 0.9% a year while rent rose about 1.9% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Perry County, Pennsylvania?
73.5% of households in Perry County, Pennsylvania own their home, higher than the Pennsylvania average of 62.8%.
What is the vacancy rate in Perry County, Pennsylvania?
The housing vacancy rate in Perry County, Pennsylvania is 8.9%, lower than the Pennsylvania average of 9.4%.