Altoona, PA—16602
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Altoona, PA
Home Price Trends — Altoona, PA
As of Oct '25, the median home price in Altoona, PA is $128,000, with a year-over-year change of 1.4%. This indicates that home prices in Altoona, PA are increasing. According to Zillow, the 1-year price projection is -1.4%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $128,000 | 1.4% |
| Single Family | $128,000 | 0.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $121,000 | -1.6% |
3 Bed | $147,000 | 2.1% |
4 Bed | $185,000 | 3.4% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Altoona, PA
As of July '25, Rentcast reports the average rent in Altoona, PA is $1,170, with a year-over-year rent change of 6.4%. Per bedroom, the median rent as of July '25 in Altoona, PA is 1-bedrooms: $1,220, 2-bedrooms: $1,140, 3-bedrooms: $1,090, 4-bedrooms: $1,130. The most common rental property sizes in Altoona, PA are 2-bedroom and 1-bedroom, accounting for 40.5% and 26.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,200 | $1,170 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,200 | $1,220 |
| 2 Bed Rent | $1,200 | $1,140 |
| 3 Bed Rent | $1,000 | $1,090 |
| 4 Bed Rent | $1,200 | $1,130 |
% of Rental Stock
Property Listings — Altoona, PA
As of Oct '25, Realtor.com reports that the median days on market for a home in Altoona, PA is 55. This is a increase of 1.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 26.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $159,000 | 29.0% |
Listing Count | 61 | 2.0% |
| Listings as % of Homes | 0.2% | 2.0% |
Days on Market | 55 | 1.0% |
Demographics — Altoona, PA
As of the latest ACS Survey released in 2023, Altoona, PA has a population of 27,000, which has decreased by -7.2% over the past 5 years. Altoona, PA is a moderately popular place for families, as children make up 21.0% of the population. The area has a poorly educated workforce, with 21.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 27,000 | -7.2% |
% Under 18 | 21.0% | -0.5% |
% Seniors | 19.7% | 7.1% |
% WFH | 7.1% | 108.8% |
% w/ College Degree | 21.0% | 8.8% |
As of the latest ACS Survey released in 2023, Altoona, PA is a predominantly white area, with 89.6% of the population identifying as white. The white population has shrunk by 3.3% in the last 5 years. The second most common race or ethnicity in Altoona, PA is black, making up 3.7% of the population. Foreign-born residents account for 1.6% of the population in Altoona, PA, and this percentage has increased by 60.0% 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 | 89.6% | -3.3% |
% Black | 3.7% | 19.4% |
% Hispanic | 1.7% | -19.0% |
% Asian | 0.5% | 66.7% |
% Foreign Born | 1.6% | 60.0% |
Mortgage and Risk — Altoona, PA
According to HUD data as of 2023, there were 390 mortgage originations in Altoona, PA, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 28.0% above 90% LTV (very high). This implies large mortgage risk in Altoona, PA. Investor activity is low, as 8.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 390 |
% Conventional Loans | 80.0% |
% Government Loans | 20.0% |
% Investor Loans | 8.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Altoona, PA
As of 2024, the percent of homes in Altoona, PA under the Section 8 program is 22.0%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 3-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Altoona, PA, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 885 |
Total Units Section 8 | 821 |
% Rentals under Section 8 | 22.0% |
% Occupied Section 8 | 87.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$320 | $1,200 | $880 |
| 2 Bedroom | -$140 | $1,200 | $1,060 |
| 3 Bedroom | $330 | $1,000 | $1,330 |
| 4 Bedroom | $330 | $1,200 | $1,530 |
Affordability — Altoona, PA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.2 |
| Median Home Price | $128,000 |
| Median Household Income | $53,100 |