Cranberry Township, PA—16066
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Cranberry Township, PA
As of Oct '25, the median home price in Cranberry Township, PA is $460,000, with a year-over-year change of 5.7%. This indicates that home prices in Cranberry Township, PA are increasing. According to Zillow, the 1-year price projection is 0.4%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $460,000 | 5.7% |
| Single Family | $488,000 | 4.3% |
| Condos | $282,000 | 0.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $244,000 | 2.5% |
3 Bed | $367,000 | 2.8% |
4 Bed | $567,000 | 1.1% |
| 5 Bed | $799,000 | 1.3% |
% of Housing Stock
Rental Trends — Cranberry Township, PA
As of July '25, Rentcast reports the average rent in Cranberry Township, PA is $2,840, with a year-over-year rent change of 16.4%. Per bedroom, the median rent as of July '25 in Cranberry Township, PA is studios: $1,880, 1-bedrooms: $1,580, 2-bedrooms: $1,760, 3-bedrooms: $2,900, 4-bedrooms: $4,000. The most common rental property sizes in Cranberry Township, PA are 2-bedroom and 1-bedroom, accounting for 54.1% and 29.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,650 | $2,840 |
| Studio Rent | $1,810 | $1,880 |
| 1 Bed Rent | $1,670 | $1,580 |
| 2 Bed Rent | $1,650 | $1,760 |
| 3 Bed Rent | $2,750 | $2,900 |
| 4 Bed Rent | $3,250 | $4,000 |
% of Rental Stock
Property Listings — Cranberry Township, PA
As of Oct '25, Realtor.com reports that the median days on market for a home in Cranberry Township, PA is 39. This is a decrease of -19.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 21.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $499,000 | -14.0% |
Listing Count | 164 | 29.0% |
| Listings as % of Homes | 0.6% | 29.0% |
Days on Market | 39 | -19.0% |
Demographics — Cranberry Township, PA
As of the latest ACS Survey released in 2023, Cranberry Township, PA has a population of 33,500, which has increased by 10.4% over the past 5 years. Cranberry Township, PA is a moderately popular place for families, as children make up 22.7% of the population. The area has a highly educated workforce, with 65.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 22.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 33,500 | 10.4% |
% Under 18 | 22.7% | -9.2% |
% Seniors | 16.4% | 42.6% |
% WFH | 22.1% | 256.5% |
% w/ College Degree | 65.1% | 12.4% |
As of the latest ACS Survey released in 2023, Cranberry Township, PA is a predominantly white area, with 90.2% of the population identifying as white. The white population has shrunk by 0.4% in the last 5 years. The second most common race or ethnicity in Cranberry Township, PA is asian, making up 3.7% of the population. Foreign-born residents account for 4.8% of the population in Cranberry Township, PA, and this percentage has decreased by 26.2% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 90.2% | -0.4% |
% Black | 1.3% | -13.3% |
% Hispanic | 1.8% | -37.9% |
% Asian | 3.7% | 2.8% |
% Foreign Born | 4.8% | -26.2% |
Mortgage and Risk — Cranberry Township, PA
According to HUD data as of 2023, there were 775 mortgage originations in Cranberry Township, PA, of which 93.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 15.0% above 90% LTV (elevated). This implies medium mortgage risk in Cranberry Township, PA. Investor activity is low, as 1.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 775 |
% Conventional Loans | 93.0% |
% Government Loans | 7.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Cranberry Township, PA
As of 2024, the percent of homes in Cranberry Township, PA under the Section 8 program is 2.9%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Cranberry Township, PA, because HUD payments exceed market rent, while 1-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 109 |
Total Units Section 8 | 109 |
% Rentals under Section 8 | 2.9% |
% Occupied Section 8 | 84.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$130 | $1,670 | $1,540 |
| 2 Bedroom | $200 | $1,650 | $1,850 |
| 3 Bedroom | -$390 | $2,750 | $2,360 |
| 4 Bedroom | -$710 | $3,250 | $2,540 |
Affordability — Cranberry Township, PA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.1 |
| Median Home Price | $460,000 |
| Median Household Income | $125,000 |