Hershey, PA—17033
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Hershey, PA
As of Oct '25, the median home price in Hershey, PA is $397,000, with a year-over-year change of 6.3%. This indicates that home prices in Hershey, PA are increasing. According to Zillow, the 1-year price projection is 1.7%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $397,000 | 6.3% |
| Single Family | $400,000 | 6.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $305,000 | 4.5% |
3 Bed | $352,000 | 5.7% |
4 Bed | $502,000 | 6.8% |
| 5 Bed | $606,000 | 7.4% |
% of Housing Stock
Rental Trends — Hershey, PA
As of July '25, Rentcast reports the average rent in Hershey, PA is $1,830, with a year-over-year rent change of -9.0%. Per bedroom, the median rent as of July '25 in Hershey, PA is 1-bedrooms: $1,250, 2-bedrooms: $1,870, 3-bedrooms: $2,140, 4-bedrooms: $2,800. The most common rental property sizes in Hershey, PA are 2-bedroom and 1-bedroom, accounting for 41.2% and 26.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,600 | $1,830 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,100 | $1,250 |
| 2 Bed Rent | $1,420 | $1,870 |
| 3 Bed Rent | $2,500 | $2,140 |
| 4 Bed Rent | $2,800 | $2,800 |
% of Rental Stock
Property Listings — Hershey, PA
As of Oct '25, Realtor.com reports that the median days on market for a home in Hershey, PA is 53. This is a increase of 16.0% 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 11.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $569,000 | -3.0% |
Listing Count | 35 | 26.0% |
| Listings as % of Homes | 0.3% | 26.0% |
Days on Market | 53 | 16.0% |
Demographics — Hershey, PA
As of the latest ACS Survey released in 2023, Hershey, PA has a population of 17,000, which has decreased by -3.2% over the past 5 years. Hershey, PA is a moderately popular place for families, as children make up 20.3% of the population. The area has a highly educated workforce, with 46.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 20.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 17,000 | -3.2% |
% Under 18 | 20.3% | 5.2% |
% Seniors | 17.6% | 2.9% |
% WFH | 20.1% | 14.2% |
% w/ College Degree | 46.3% | -16.4% |
As of the latest ACS Survey released in 2023, Hershey, PA is a predominantly white area, with 71.6% of the population identifying as white. The white population has shrunk by 16.1% in the last 5 years. The second most common race or ethnicity in Hershey, PA is hispanic, making up 11.8% of the population. Foreign-born residents account for 12.4% of the population in Hershey, PA, and this percentage has increased by 85.1% 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 | 71.6% | -16.1% |
% Black | 3.5% | -34.0% |
% Hispanic | 11.8% | 210.5% |
% Asian | 8.7% | 117.5% |
% Foreign Born | 12.4% | 85.1% |
Mortgage and Risk — Hershey, PA
According to HUD data as of 2023, there were 169 mortgage originations in Hershey, PA, of which 91.0% of loans were conventional mortgages. The average loan-to-value was 54.0%, with 15.0% above 90% LTV (elevated). This implies medium mortgage risk in Hershey, PA. Investor activity is low, as 1.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 169 |
% Conventional Loans | 91.0% |
% Government Loans | 9.0% |
% Investor Loans | 1.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Hershey, PA
As of 2024, the percent of homes in Hershey, PA under the Section 8 program is 8.3%. 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 units appear to be good home sizes to consider for Section 8 housing in Hershey, PA, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 251 |
Total Units Section 8 | 251 |
% Rentals under Section 8 | 8.3% |
% Occupied Section 8 | 95.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $90 | $1,100 | $1,190 |
| 2 Bedroom | $50 | $1,420 | $1,470 |
| 3 Bedroom | -$610 | $2,500 | $1,890 |
| 4 Bedroom | -$850 | $2,800 | $1,950 |
Affordability — Hershey, PA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.5 |
| Median Home Price | $397,000 |
| Median Household Income | $75,100 |