State College, Pennsylvania Housing Market Prices
State College 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 75% below the Pennsylvania median$37,500
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Median rent 5% above the Pennsylvania median$1,272
Housing Market Overview
| Metric | State College | Pennsylvania Avg | US Average |
|---|---|---|---|
| Median Home Price | $37,500 | $152,469 | $248,835 |
| Price Trend (Annual %) | -4.7% | 3.7% | 7.5% |
| Median Gross Rent | $1,272 | $1,208 | $1,407 |
| Rent Trend (Annual %) | 3.5% | 4.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in State College is about 75% lower than in Pennsylvania. Rent is about 5% higher 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 State College: home prices fell about 4.7% a year while rent rose about 3.5% a year. That is an unusual pattern worth watching.
Median rent in State College rose about 31.7% between 2015 and 2024, from $966 to $1,272. Over the same span, rent in Pennsylvania rose about 43.9%.
Affordability
On average, housing unit costs 0.8 yearly household incomes in State College.
Buying the median-priced home in State College costs roughly 2.5 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 State College. The price-to-rent ratio in Pennsylvania is about 10.5.
| Metric | State College | Pennsylvania Avg | US Average |
|---|---|---|---|
| Median Home Price | $37,500 | $152,469 | $248,835 |
| Median Household Income | $45,182 | $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 State College fell about 89.3%, while median household income rose about 110.3% 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 | State College | Pennsylvania Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 22.1% | 63.0% | 58.5% |
| Rental Rate | 62.7% | 27.9% | 31.2% |
| Vacancy Rate | 15.1% | 9.1% | 10.2% |
| Median Tenure (years) | 8.0 | 17.0 | 15.0 |
| Median Year Moved In | 2018 | 2009 | 2011 |
State College has a homeownership rate of 22.1%, lower than the Pennsylvania average of 63.0%. Its housing vacancy rate is 15.1%, compared with 9.1% in Pennsylvania.
Housing Stock
| Metric | State College | Pennsylvania Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.23 people | 2.39 people | 2.53 people |
| Median Structure Built Year | 1971 | 1966 | 1978 |
| Median Number of Rooms | 4.1 | 6.0 | 5.5 |
The typical housing unit in State College was built around 1971. On average, 2.2 people live in a home with about 4.1 rooms, staying for about 8.0 years on average.
Frequently Asked Questions
Common questions about the housing market in State College, Pennsylvania.
What is the median home price in State College, Pennsylvania?
The median home price in State College, Pennsylvania is $37,500, lower than the Pennsylvania average of $152,469.
What is the average home price in State College, Pennsylvania?
The typical home price in State College, Pennsylvania, reported as the median sale price, is $37,500. 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 State College, Pennsylvania?
The median gross rent in State College, Pennsylvania is $1,272 per month, higher than the Pennsylvania average of $1,208.
What was the median gross rent in State College in 2020?
In 2020, the median gross rent in State College, Pennsylvania was $1,082 per month.
What is the price-to-rent ratio in State College, Pennsylvania?
The price-to-rent ratio in State College, Pennsylvania is about 2.5, meaning it would take roughly 2.5 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 State College.
Are home prices or rent rising faster in State College, Pennsylvania?
Home prices and rent are moving in opposite directions in State College: home prices fell about 4.7% a year while rent rose about 3.5% a year. That is an unusual pattern worth watching.
What is the homeownership rate in State College, Pennsylvania?
22.1% of households in State College, Pennsylvania own their home, lower than the Pennsylvania average of 63.0%.
What is the vacancy rate in State College, Pennsylvania?
The housing vacancy rate in State College, Pennsylvania is 15.1%, higher than the Pennsylvania average of 9.1%.
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