State College, PA—16803
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — State College, PA
As of Oct '25, the median home price in State College, PA is $406,000, with a year-over-year change of 2.8%. This indicates that home prices in State College, PA are increasing. According to Zillow, the 1-year price projection is 0.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $406,000 | 2.8% |
| Single Family | $412,000 | 2.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $280,000 | 2.9% |
3 Bed | $367,000 | 2.2% |
4 Bed | $509,000 | 2.2% |
| 5 Bed | $645,000 | 1.3% |
% of Housing Stock
Rental Trends — State College, PA
As of July '25, Rentcast reports the average rent in State College, PA is $1,820, with a year-over-year rent change of 7.7%. Per bedroom, the median rent as of July '25 in State College, PA is studios: $1,060, 1-bedrooms: $1,310, 2-bedrooms: $1,800, 3-bedrooms: $1,930, 4-bedrooms: $2,160. The most common rental property sizes in State College, PA are 2-bedroom and 3-bedroom, accounting for 30.8% and 21.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,700 | $1,820 |
| Studio Rent | $900 | $1,060 |
| 1 Bed Rent | $1,250 | $1,310 |
| 2 Bed Rent | $1,800 | $1,800 |
| 3 Bed Rent | $1,850 | $1,930 |
| 4 Bed Rent | $1,850 | $2,160 |
% of Rental Stock
Property Listings — State College, PA
As of Oct '25, Realtor.com reports that the median days on market for a home in State College, PA is 26. This is a decrease of -12.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 9.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $466,000 | 16.0% |
Listing Count | 65 | -9.0% |
| Listings as % of Homes | 0.1% | -9.0% |
Days on Market | 26 | -12.0% |
Demographics — State College, PA
As of the latest ACS Survey released in 2023, State College, PA has a population of 23,700, which has decreased by -8.7% over the past 5 years. State College, PA is a less popular place for families, as children make up 13.4% of the population. The area has a highly educated workforce, with 73.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 18.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 23,700 | -8.7% |
% Under 18 | 13.4% | -11.3% |
% Seniors | 12.9% | 12.2% |
% WFH | 18.7% | 211.7% |
% w/ College Degree | 73.9% | 3.4% |
As of the latest ACS Survey released in 2023, State College, PA is a predominantly white area, with 70.9% 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 State College, PA is asian, making up 14.8% of the population. Foreign-born residents account for 21.0% of the population in State College, PA, and this percentage has increased by 8.8% 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 | 70.9% | -3.3% |
% Black | 3.5% | -38.6% |
% Hispanic | 5.1% | 54.5% |
% Asian | 14.8% | -8.1% |
% Foreign Born | 21.0% | 8.8% |
Mortgage and Risk — State College, PA
According to HUD data as of 2023, there were 267 mortgage originations in State College, PA, of which 94.0% of loans were conventional mortgages. The average loan-to-value was 58.0%, with 16.0% above 90% LTV (elevated). This implies medium mortgage risk in State College, PA. Investor activity is low, as 1.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 267 |
% Conventional Loans | 94.0% |
% Government Loans | 6.0% |
% Investor Loans | 1.0% |
% Second Loans | 5.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — State College, PA
As of 2024, the percent of homes in State College, PA under the Section 8 program is 0.9%. 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 3-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in State College, PA, because HUD payments exceed market rent, while 2-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 50 |
Total Units Section 8 | 50 |
% Rentals under Section 8 | 0.9% |
% Occupied Section 8 | 91.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $130 | $1,250 | $1,380 |
| 2 Bedroom | -$200 | $1,800 | $1,600 |
| 3 Bedroom | $100 | $1,850 | $1,950 |
| 4 Bedroom | $270 | $1,850 | $2,120 |
Affordability — State College, PA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.2 |
| Median Home Price | $406,000 |
| Median Household Income | $72,000 |