Hermitage, PA—16148
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Hermitage, PA
As of Oct '25, the median home price in Hermitage, PA is $214,000, with a year-over-year change of 1.2%. This indicates that home prices in Hermitage, PA are increasing. According to Zillow, the 1-year price projection is 3.0%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $214,000 | 1.2% |
| Single Family | $210,000 | 0.5% |
| Condos | $239,000 | 3.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $174,000 | 4.8% |
3 Bed | $216,000 | 3.8% |
4 Bed | $356,000 | 5.3% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Hermitage, PA
As of July '25, Rentcast reports the average rent in Hermitage, PA is $1,360, with a year-over-year rent change of 25.9%. Per bedroom, the median rent as of July '25 in Hermitage, PA is studios: $1,650, 1-bedrooms: $768, 2-bedrooms: $1,350, 4-bedrooms: $1,690. The most common rental property sizes in Hermitage, PA are 2-bedroom and 1-bedroom, accounting for 46.0% and 28.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,350 | $1,360 |
| Studio Rent | $1,600 | $1,650 |
| 1 Bed Rent | $755 | $768 |
| 2 Bed Rent | $1,350 | $1,350 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | $1,690 | $1,690 |
% of Rental Stock
Property Listings — Hermitage, PA
As of Oct '25, Realtor.com reports that the median days on market for a home in Hermitage, PA is 46. This is a increase of 60.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 10.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $256,000 | 2.0% |
Listing Count | 58 | 37.0% |
| Listings as % of Homes | 0.4% | 37.0% |
Days on Market | 46 | 60.0% |
Demographics — Hermitage, PA
As of the latest ACS Survey released in 2023, Hermitage, PA has a population of 16,600, which has increased by 2.0% over the past 5 years. Hermitage, PA is a moderately popular place for families, as children make up 16.7% of the population. The area has a moderately educated workforce, with 35.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 16,600 | 2.0% |
% Under 18 | 16.7% | -2.9% |
% Seniors | 27.8% | 1.5% |
% WFH | 9.9% | 230.0% |
% w/ College Degree | 35.4% | 21.6% |
As of the latest ACS Survey released in 2023, Hermitage, PA is a predominantly white area, with 89.4% of the population identifying as white. The white population has shrunk by 2.3% in the last 5 years. The second most common race or ethnicity in Hermitage, PA is black, making up 3.3% of the population. Foreign-born residents account for 2.5% of the population in Hermitage, PA, and this percentage has increased by 31.6% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 89.4% | -2.3% |
% Black | 3.3% | -35.3% |
% Hispanic | 2.4% | 100.0% |
% Asian | 1.3% | -7.1% |
% Foreign Born | 2.5% | 31.6% |
Mortgage and Risk — Hermitage, PA
According to HUD data as of 2023, there were 249 mortgage originations in Hermitage, PA, of which 82.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 27.0% above 90% LTV (very high). This implies large mortgage risk in Hermitage, PA. Investor activity is low, as 2.0% 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 | 249 |
% Conventional Loans | 82.0% |
% Government Loans | 18.0% |
% Investor Loans | 2.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Hermitage, PA
Hermitage, PA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 333 |
Total Units Section 8 | 297 |
% Rentals under Section 8 | 14.5% |
% Occupied Section 8 | 87.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $25 | $755 | $780 |
| 2 Bedroom | -$370 | $1,350 | $980 |
| 3 Bedroom | N/A | N/A | $1,360 |
| 4 Bedroom | -$210 | $1,690 | $1,480 |
Affordability — Hermitage, PA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.7 |
| Median Home Price | $214,000 |
| Median Household Income | $72,700 |