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 | Venango County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Median Home Price | $63,898 | $154,283 | $242,182 |
| Price Trend (Annual %) | 0.2% | 4.4% | 8.2% |
| Median Gross Rent | $773 | $1,161 | $1,342 |
| Rent Trend (Annual %) | 4.1% | 4.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Venango County is about 59% lower than in Pennsylvania. Rent is about 33% 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 Venango County, up about 0.2% and 4.1% a year respectively. Rent is changing faster.
Median rent in Venango County rose about 33.8% between 2015 and 2023, from $578 to $773. Over the same span, rent in Pennsylvania rose about 38.3%.
Affordability
On average, housing unit costs 1.0 yearly household incomes in Venango County.
Buying the median-priced home in Venango County costs roughly 6.9 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 Venango County. The price-to-rent ratio in Pennsylvania is about 11.1.
| Metric | Venango County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Median Home Price | $63,898 | $154,283 | $242,182 |
| Median Household Income | $61,772 | $76,231 | $78,145 |
| Price-to-Income Ratio | 1.0 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Venango County rose about 3.6%, while median household income rose about 61.4% 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 | Venango County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 61.6% | 62.8% | 58.2% |
| Rental Rate | 19.8% | 27.8% | 31.3% |
| Vacancy Rate | 18.6% | 9.4% | 10.6% |
| Median Tenure (years) | 20.0 | 17.0 | 15.0 |
| Median Year Moved In | 2006 | 2009 | 2011 |
Venango County has a homeownership rate of 61.6%, lower than the Pennsylvania average of 62.8%. Its housing vacancy rate is 18.6%, compared with 9.4% in Pennsylvania.
Housing Stock
| Metric | Venango County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.30 people | 2.40 people | 2.54 people |
| Median Structure Built Year | 1959 | 1965 | 1978 |
| Median Number of Rooms | 6.0 | 6.0 | 5.5 |
The typical housing unit in Venango County was built around 1959. On average, 2.3 people live in a home with about 6.0 rooms, staying for about 20.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Venango County, Pennsylvania.
What is the median home price in Venango County, Pennsylvania?
The median home price in Venango County, Pennsylvania is $63,898, lower than the Pennsylvania average of $154,283.
What is the average home price in Venango 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 Venango County, Pennsylvania?
The median gross rent in Venango County, Pennsylvania is $773 per month, lower than the Pennsylvania average of $1,161.
What was the median gross rent in Venango County in 2020?
In 2020, the median gross rent in Venango County, Pennsylvania was $652 per month.
What is the price-to-rent ratio in Venango County, Pennsylvania?
The price-to-rent ratio in Venango County, Pennsylvania is about 6.9, meaning it would take roughly 6.9 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 Venango County.
Are home prices or rent rising faster in Venango County, Pennsylvania?
Both home prices and rent are rising in Venango County, up about 0.2% and 4.1% a year respectively. Rent is changing faster.
What is the homeownership rate in Venango County, Pennsylvania?
61.6% of households in Venango County, Pennsylvania own their home, lower than the Pennsylvania average of 62.8%.
What is the vacancy rate in Venango County, Pennsylvania?
The housing vacancy rate in Venango County, Pennsylvania is 18.6%, higher than the Pennsylvania average of 9.4%.