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 | Susquehanna County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Median Home Price | $121,929 | $154,283 | $242,182 |
| Price Trend (Annual %) | 2.4% | 4.4% | 8.2% |
| Median Gross Rent | $913 | $1,161 | $1,342 |
| Rent Trend (Annual %) | 3.5% | 4.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Susquehanna County is about 21% lower than in Pennsylvania. Rent is about 21% 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 Susquehanna County, up about 2.4% and 3.5% a year respectively. Rent is changing faster.
Median rent in Susquehanna County rose about 27.8% between 2015 and 2023, from $714 to $913. Over the same span, rent in Pennsylvania rose about 38.3%.
Affordability
On average, housing unit costs 1.8 yearly household incomes in Susquehanna County.
Buying the median-priced home in Susquehanna County costs roughly 11.1 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 Susquehanna County. The price-to-rent ratio in Pennsylvania is about 11.1.
| Metric | Susquehanna County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Median Home Price | $121,929 | $154,283 | $242,182 |
| Median Household Income | $68,043 | $76,231 | $78,145 |
| Price-to-Income Ratio | 1.8 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Susquehanna County rose about 57.5%, while median household income rose about 63.1% 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 | Susquehanna County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 57.4% | 62.8% | 58.2% |
| Rental Rate | 15.9% | 27.8% | 31.3% |
| Vacancy Rate | 26.7% | 9.4% | 10.6% |
| Median Tenure (years) | 21.0 | 17.0 | 15.0 |
| Median Year Moved In | 2005 | 2009 | 2011 |
Susquehanna County has a homeownership rate of 57.4%, lower than the Pennsylvania average of 62.8%. Its housing vacancy rate is 26.7%, compared with 9.4% in Pennsylvania.
Housing Stock
| Metric | Susquehanna County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.43 people | 2.40 people | 2.54 people |
| Median Structure Built Year | 1972 | 1965 | 1978 |
| Median Number of Rooms | 5.9 | 6.0 | 5.5 |
The typical housing unit in Susquehanna County was built around 1972. On average, 2.4 people live in a home with about 5.9 rooms, staying for about 21.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Susquehanna County, Pennsylvania.
What is the median home price in Susquehanna County, Pennsylvania?
The median home price in Susquehanna County, Pennsylvania is $121,929, lower than the Pennsylvania average of $154,283.
What is the average home price in Susquehanna 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 Susquehanna County, Pennsylvania?
The median gross rent in Susquehanna County, Pennsylvania is $913 per month, lower than the Pennsylvania average of $1,161.
What was the median gross rent in Susquehanna County in 2020?
In 2020, the median gross rent in Susquehanna County, Pennsylvania was $761 per month.
What is the price-to-rent ratio in Susquehanna County, Pennsylvania?
The price-to-rent ratio in Susquehanna County, Pennsylvania is about 11.1, meaning it would take roughly 11.1 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 Susquehanna County.
Are home prices or rent rising faster in Susquehanna County, Pennsylvania?
Both home prices and rent are rising in Susquehanna County, up about 2.4% and 3.5% a year respectively. Rent is changing faster.
What is the homeownership rate in Susquehanna County, Pennsylvania?
57.4% of households in Susquehanna County, Pennsylvania own their home, lower than the Pennsylvania average of 62.8%.
What is the vacancy rate in Susquehanna County, Pennsylvania?
The housing vacancy rate in Susquehanna County, Pennsylvania is 26.7%, higher than the Pennsylvania average of 9.4%.