Bellefonte, PA 16823 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Bellefonte, PA—16823

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$297,000

5.1% YoY Growth

Household Income

$75,700

21.6% YoY Growth

Days on Market

24.0% Longer YoY

Home Price Forecast

0.3%

Median Rent

$1,250

10.8% YoY Growth

1-Bed Rent

$835

10.6% YoY Growth

2-Bed Rent

$1,200

30.2% YoY Growth

3-Bed Rent

$1,300

9.9% YoY Growth

Home Price Trends — Bellefonte, PA

As of Dec '25, the median home price in Bellefonte, PA is $297,000, with a year-over-year change of 5.1%. 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	5.1%
Single Family	$297,000	4.9%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

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

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% of Rental Stock

Studio

2.2%

1 Bedroom

32.9%

2 Bedrooms

29.5%

3 Bedrooms

32.4%

4 Bedrooms

1.7%

5+ Bedrooms

1.3%

Property Listings — Bellefonte, PA

As of Dec '25, Realtor.com reports that the median days on market for a home in Bellefonte, PA is 61. This is a increase of 47.0% 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 13.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$358,000	3.0%
Listing Count	70	35.0%
Listings as % of Homes	0.3%	35.0%
Days on Market	70	24.0%

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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%

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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%

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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%

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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

Bellefonte, PA—16823

Key Metrics at a Glance

Home Price Trends — Bellefonte, PA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Bellefonte, PA

% of Rental Stock

Property Listings — Bellefonte, PA

Demographics — Bellefonte, PA

Race and Ethnicity

Mortgage and Risk — Bellefonte, PA

Mortgages

Rentals and Section 8 — Bellefonte, PA

Section 8 Market Size

Section 8 Opportunity

Affordability — Bellefonte, PA

Home Price to Income Ratio

Bellefonte, PA — ZIP Code Boundary Map

Nearby ZIP Codes

Milesburg

Unionville

Mingoville

Lemont

Howard, PA

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.5
Median Home Price	$297,000
Median Household Income	$75,700

Bellefonte, PA—16823

Key Metrics at a Glance

Home Price Trends — Bellefonte, PA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Bellefonte, PA

% of Rental Stock

Property Listings — Bellefonte, PA

Demographics — Bellefonte, PA

Race and Ethnicity

Mortgage and Risk — Bellefonte, PA

Mortgages

Rentals and Section 8 — Bellefonte, PA

Section 8 Market Size

Section 8 Opportunity

Affordability — Bellefonte, PA

Home Price to Income Ratio

Bellefonte, PA — ZIP Code Boundary Map

Nearby ZIP Codes

Milesburg

Unionville

Mingoville

Lemont

Howard, PA

Frequently Asked Questions

What is the average home price in Bellefonte, PA 16823?

How have home prices in Bellefonte, PA 16823 changed over the past year?

What is the home price projection for Bellefonte, PA 16823?

What are the demographics of Bellefonte, PA 16823?

How long does it take homes to sell in Bellefonte, PA 16823?

What is the average rent price in Bellefonte, PA 16823?