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Hermitage, PA—16148

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$211,000
1.2% YoY Growth
Household Income
$72,700
36.1% YoY Growth
Days on Market
63
2.0% Shorter YoY
Home Price Forecast
3.5%
Median Rent
$1,350
25.9% YoY Growth
1-Bed Rent
$755
N/A
2-Bed Rent
$1,350
N/A
3-Bed Rent
N/A
N/A
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Hermitage, PA

As of Dec '25, the median home price in Hermitage, PA is $211,000, 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 3.5%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$211,0001.2%
Single Family $207,0000.5%
Condos $237,0003.0%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$173,0004.2%
    3 Bed
    		$215,0003.4%
    4 Bed
    		$352,0004.5%
    5 Bed N/AN/A
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    % of Housing Stock

    Studio
    0.9%
    1 Bedroom
    9.8%
    2 Bedrooms
    24.2%
    3 Bedrooms
    43.5%
    4 Bedrooms
    19.3%
    5+ Bedrooms
    2.2%

    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.

    TypeMedian RentAverage 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/AN/A
    4 Bed Rent $1,690$1,690
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    % of Rental Stock

    Studio
    3.6%
    1 Bedroom
    28.1%
    2 Bedrooms
    46.0%
    3 Bedrooms
    19.0%
    4 Bedrooms
    3.3%

    Property Listings — Hermitage, PA

    As of Dec '25, Realtor.com reports that the median days on market for a home in Hermitage, PA is 51. This is a increase of 43.0% 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 19.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$250,000-3.0%
    Listing Count
    		5223.0%
    Listings as % of Homes0.4%23.0%
    Days on Market
    		63-2.0%
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    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.

    MetricLatest CensusYoY % Change
    Population
    		16,6002.0%
    % Under 18
    		16.7%-2.9%
    % Seniors
    		27.8%1.5%
    % WFH
    		9.9%230.0%
    % w/ College Degree
    		35.4%21.6%
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    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

    MetricLatest Census5-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%
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    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

    MetricZip 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%
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    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 SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$25$755$780
    2 Bedroom-$370$1,350$980
    3 BedroomN/AN/A$1,360
    4 Bedroom-$210$1,690$1,480

    Affordability — Hermitage, PA

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio2.7
    Median Home Price$211,000
    Median Household Income$72,700

    Hermitage, PA — ZIP Code Boundary Map

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    Nearby ZIP Codes

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    Frequently Asked Questions