The housing market in Pennsylvania State is quite healthy, with median values slightly lower than the US average. Despite this, Pennsylvania has seen similar appreciation rates of 8.06%, compared to the national average of 8.27%. This indicates that home owners have seen good returns on their investments over the past year, despite being slightly lower than the national average. With such positive growth in this area, it is no surprise that Pennsylvania continues to be a desirable place for real estate purchases and investments.
The median home cost in Pennsylvania is $242,800. Home appreciation the last 10 years has been 64.9%. Home Appreciation in Pennsylvania is up 12.8%.
Average Age of Homes
- The median age of Pennsylvania real estate is 55 years old
The Rental Market in Pennsylvania
- Renters make up 27.1% of the Pennsylvania population
- 1.5% of houses and apartments in Pennsylvania, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.