Median rent exceeds $1K a month in these central PA areas as prices rise, Zillow reports

Matt DiSanto
·3 min read

Home values and sale prices keep climbing in 2023, and rent is on the rise in the State College area, too.

The median rent in State College increased by about 38% between February 2022 and 2023, according to RentHub, a rental housing data and analytics firm. The area’s mid-point rent in February checked in at nearly $1,500, according to data last updated March 25.

The 16801 zip code, which covers the southwestern State College area and stretches to parts of Lemont, Houserville and Pine Grove Mills, posted a median rent of roughly $1,454 in February, RentHub says. That price is up 37.8% over last year.

The 16803 zip code, which covers the rest of State College and extends up to University Park Airport, observed a higher median rent than its counterpart, checking in at $1,475 for February. That marks a 32.2% increase from 2022’s figure, according to RentHub.

Note: This interactive graphic will automatically update as new data becomes available.

The median home sale price in Centre County grew again in February, area realtors say

Much like RentHub, Zillow reports increasing rent in the State College area. However, the real estate site’s most recent market report suggests rent is getting even more expensive in the area these days.

Zillow says the median rent in State College for all sizes and property types checks in at about $1,750 for March. That figure is down about $50 from February’s mid-point, but up roughly $350 from last year.

The price range for all bedrooms and property types available for rent stretches from roughly $645 to $4,500, Zillow says.

Here’s how State College’s median rent compares to some other local rates, according to Zillow’s market reports:

  • Bellefonte has a median rent of about $900

  • Boalsburg has a median rent of approximately $1,275

  • Philipsburg has a median rent of roughly $600

  • Pennsylvania Furnace has a median rent of around $1,800

State College’s median rent exceeds the mid-point figures of most Centre County locales, but still falls below the national median, according to Rent.com. The apartment search engine and online marketplace’s most recent market report found the national median rent in February was $1,937, down slightly from January’s $1,942. The nation’s median rent peaked in August 2022 when it rose to $2,053.

In its most recent market report, Zillow described State College’s rental market as “warm,” indicating demand is starting to increase.

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Rent increases in the area fall in line with recent trends within Centre County’s real estate market. The area’s median home sale price in February, approximately $373,000, marked the highest monthly mid-point sale price on record for at least the last five years, according to the Centre County Association of Realtors’ most recent market report.

Additionally, home values in the area have increased through the first few months of 2023. On average, State College home values have grown by about 6.1% over the last year, according to Zillow’s Home Value Index. The area’s average home value sits at about $366,500, according to data available through Feb. 28.