Bellefonte, PA—16823
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Bellefonte, PA
As of Oct '25, the median home price in Bellefonte, PA is $297,000, with a year-over-year change of 5.4%. This indicates that home prices in Bellefonte, PA are increasing. According to Zillow, the 1-year price projection is -0.3%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $297,000 | 5.4% |
| Single Family | $297,000 | 5.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $170,000 | -0.6% |
2 Bed | $226,000 | 4.6% |
3 Bed | $295,000 | 5.4% |
4 Bed | $401,000 | 3.6% |
| 5 Bed | $404,000 | 3.9% |
% of Housing Stock
Rental Trends — Bellefonte, PA
As of July '25, Rentcast reports the average rent in Bellefonte, PA is $1,440, with a year-over-year rent change of 10.8%. Per bedroom, the median rent as of July '25 in Bellefonte, PA is studios: $650, 1-bedrooms: $845, 2-bedrooms: $1,380, 3-bedrooms: $1,360, 4-bedrooms: $2,330. The most common rental property sizes in Bellefonte, PA are 1-bedroom and 3-bedroom, accounting for 32.9% and 32.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,250 | $1,440 |
| Studio Rent | $650 | $650 |
| 1 Bed Rent | $835 | $845 |
| 2 Bed Rent | $1,200 | $1,380 |
| 3 Bed Rent | $1,300 | $1,360 |
| 4 Bed Rent | $2,200 | $2,330 |
% of Rental Stock
Property Listings — Bellefonte, PA
As of Oct '25, Realtor.com reports that the median days on market for a home in Bellefonte, PA is 49. This is a increase of 49.0% 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 15.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $359,000 | -1.0% |
Listing Count | 106 | 44.0% |
| Listings as % of Homes | 0.3% | 44.0% |
Days on Market | 49 | 49.0% |
Demographics — Bellefonte, PA
As of the latest ACS Survey released in 2023, Bellefonte, PA has a population of 29,200, which has decreased by -3.5% over the past 5 years. Bellefonte, PA is a moderately popular place for families, as children make up 15.1% of the population. The area has a moderately educated workforce, with 28.5% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 29,200 | -3.5% |
% Under 18 | 15.1% | -9.6% |
% Seniors | 19.4% | 23.6% |
% WFH | 9.5% | 493.8% |
% w/ College Degree | 28.5% | 5.9% |
As of the latest ACS Survey released in 2023, Bellefonte, PA is a predominantly white area, with 85.5% of the population identifying as white. The white population has shrunk by 4.4% in the last 5 years. The second most common race or ethnicity in Bellefonte, PA is black, making up 7.9% of the population. Foreign-born residents account for 2.8% of the population in Bellefonte, PA, and this percentage has increased by 47.4% 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 | 85.5% | -4.4% |
% Black | 7.9% | 19.7% |
% Hispanic | 3.0% | 0.0% |
% Asian | 1.0% | 150.0% |
% Foreign Born | 2.8% | 47.4% |
Mortgage and Risk — Bellefonte, PA
According to HUD data as of 2023, there were 579 mortgage originations in Bellefonte, PA, of which 87.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 22.0% above 90% LTV (very high). This implies large mortgage risk in Bellefonte, PA. Investor activity is low, as 2.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 579 |
% Conventional Loans | 87.0% |
% Government Loans | 13.0% |
% Investor Loans | 2.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Bellefonte, PA
As of 2024, the percent of homes in Bellefonte, PA under the Section 8 program is 12.4%. 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. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Bellefonte, PA, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 421 |
Total Units Section 8 | 407 |
% Rentals under Section 8 | 12.4% |
% Occupied Section 8 | 92.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $205 | $835 | $1,040 |
| 2 Bedroom | $10 | $1,200 | $1,210 |
| 3 Bedroom | $170 | $1,300 | $1,470 |
| 4 Bedroom | -$600 | $2,200 | $1,600 |
Affordability — Bellefonte, PA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.5 |
| Median Home Price | $297,000 |
| Median Household Income | $75,700 |