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 | Wyoming County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Median Home Price | $249,924 | $154,283 | $242,182 |
| Price Trend (Annual %) | 8.3% | 4.4% | 8.2% |
| Median Gross Rent | $896 | $1,161 | $1,342 |
| Rent Trend (Annual %) | 3.1% | 4.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Wyoming County is about 62% higher than in Pennsylvania. Rent is about 23% 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 Wyoming County, up about 8.3% and 3.1% a year respectively. Home prices are changing faster.
Median rent in Wyoming County rose about 21.8% between 2015 and 2023, from $736 to $896. Over the same span, rent in Pennsylvania rose about 38.3%.
Affordability
On average, housing unit costs 3.6 yearly household incomes in Wyoming County.
Buying the median-priced home in Wyoming County costs roughly 23.2 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 Wyoming County. The price-to-rent ratio in Pennsylvania is about 11.1.
| Metric | Wyoming County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Median Home Price | $249,924 | $154,283 | $242,182 |
| Median Household Income | $70,004 | $76,231 | $78,145 |
| Price-to-Income Ratio | 3.6 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Wyoming County rose about 47.7%, while median household income rose about 55.6% 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 | Wyoming County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 65.1% | 62.8% | 58.2% |
| Rental Rate | 19.7% | 27.8% | 31.3% |
| Vacancy Rate | 15.3% | 9.4% | 10.6% |
| Median Tenure (years) | 21.0 | 17.0 | 15.0 |
| Median Year Moved In | 2005 | 2009 | 2011 |
Wyoming County has a homeownership rate of 65.1%, higher than the Pennsylvania average of 62.8%. Its housing vacancy rate is 15.3%, compared with 9.4% in Pennsylvania.
Housing Stock
| Metric | Wyoming County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.33 people | 2.40 people | 2.54 people |
| Median Structure Built Year | 1972 | 1965 | 1978 |
| Median Number of Rooms | 6.1 | 6.0 | 5.5 |
The typical housing unit in Wyoming County was built around 1972. On average, 2.3 people live in a home with about 6.1 rooms, staying for about 21.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Wyoming County, Pennsylvania.
What is the median home price in Wyoming County, Pennsylvania?
The median home price in Wyoming County, Pennsylvania is $249,924, higher than the Pennsylvania average of $154,283.
What is the average home price in Wyoming 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 Wyoming County, Pennsylvania?
The median gross rent in Wyoming County, Pennsylvania is $896 per month, lower than the Pennsylvania average of $1,161.
What was the median gross rent in Wyoming County in 2020?
In 2020, the median gross rent in Wyoming County, Pennsylvania was $789 per month.
What is the price-to-rent ratio in Wyoming County, Pennsylvania?
The price-to-rent ratio in Wyoming County, Pennsylvania is about 23.2, meaning it would take roughly 23.2 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 Wyoming County.
Are home prices or rent rising faster in Wyoming County, Pennsylvania?
Both home prices and rent are rising in Wyoming County, up about 8.3% and 3.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Wyoming County, Pennsylvania?
65.1% of households in Wyoming County, Pennsylvania own their home, higher than the Pennsylvania average of 62.8%.
What is the vacancy rate in Wyoming County, Pennsylvania?
The housing vacancy rate in Wyoming County, Pennsylvania is 15.3%, higher than the Pennsylvania average of 9.4%.