Altoona Pennsylvania Residential Rent and Rental Statistics
The median monthly gross residential rent in Altoona, PA (the Altoona metro area) was $717 in 2019 according to the Census ACS survey.1 Average gross rent in Altoona was $694 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Altoona median and average rent data will be released in September of 2021.
Data is also available below for Altoona rental vacancy rates, Altoona rent as a percent of median income and the fraction of renters in Altoona.
Real Gross Rent in Altoona Pennsylvania (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Pennsylvania Median Gross Rent | $951 | +0.74% | +3.03% |
| Altoona, PA Median Gross Rent | $717 | -2.45% | -0.28% |
Altoona, PA Real Gross Rent Trends
Median gross rent for Altoona peaked in real terms in 2018 at $735 and is now $18 (2.45%) lower. Average gross rent for Altoona peaked in real terms in 2017 at $749 and is now $55 (7.34%) lower.
Real Gross Rent in Altoona: Altoona PA Median, Altoona PA Average, Pennsylvania Median, US Median
Real Gross Rent History for Altoona
| Date | US Median |
Pennsylvania Median |
Altoona, PA Median |
Altoona, PA Average |
|---|---|---|---|---|
| 2019 | $1,097 | $951 | $717 | $694 |
| 2018 | $1,077 | $944 | $735 | $737 |
| 2017 | $1,043 | $921 | $709 | $749 |
| 2016 | $1,027 | $923 | $719 | $696 |
| 2015 | $1,017 | $921 | $695 | $659 |
| 2014 | $986 | $895 | $681 | $633 |
| 2013 | $953 | $872 | $632 | $587 |
| 2012 | $940 | $849 | $667 | $671 |
| 2011 | $941 | $849 | $672 | $691 |
| 2010 | $955 | $853 | $655 | $672 |
| 2009 | $960 | $841 | $607 | $635 |
| 2007 | $927 | $805 | $667 | $658 |
| 2005 | $910 | $809 | $606 | $573 |
Altoona Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Altoona Pennsylvania was 4.78% according to Census ACS data.
Rental Vacancy Rate in Altoona Pennsylvania
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Pennsylvania | 4.87% | -0.42% | -0.90% |
| Altoona, PA | 4.78% | -2.56% | — |
Trends in Altoona, PA Rental Vacancy Rate
The rental vacancy rate in Altoona peaked in 2006 at 11.67%. Since then it has fallen by 6.89% to 4.78%. Data records for this series originated in 2005. From a 2015 post peak low of 2.22%, the rental vacancy rate has increased by 2.56%.
Rental Vacancy Rate: Altoona PA, Pennsylvania, US
Historical Rental Vacancy Rate data for Altoona
| Date | US | Pennsylvania | Altoona, PA |
|---|---|---|---|
| 2019 | 5.97% | 4.87% | 4.78% |
| 2018 | 6.15% | 5.29% | 7.34% |
| 2017 | 6.18% | 5.84% | 3.01% |
| 2016 | 5.89% | 5.77% | — |
| 2015 | 5.85% | 5.77% | 2.22% |
| 2014 | 6.32% | 6.40% | 6.76% |
| 2013 | 6.49% | 5.78% | — |
| 2012 | 6.77% | 5.88% | 5.20% |
| 2011 | 7.40% | 6.13% | 3.71% |
| 2010 | 8.17% | 6.47% | — |
| 2009 | 8.43% | 6.80% | 3.56% |
| 2007 | 7.87% | 7.34% | 2.73% |
| 2005 | 7.74% | 7.94% | 6.08% |
Rent as a Fraction of Income
Using median household income data for Altoona, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Altoona, median monthly gross rent as a fraction of median household income was 16.87% in 2019 according to the ACS.
Altoona Pennsylvania Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Pennsylvania | 17.98% | -0.28% | -0.60% |
| Altoona, PA | 16.87% | -0.48% | -2.11% |
Trends in Altoona, PA Rent as a Fraction of Income
The fraction of median Altoona household income required to pay median monthly gross rent peaked in 2016 (relative to the 2005 series origin) at 18.98%. Since then it has fallen by 2.11% to 16.87%.
Fraction of Income towards Rent: Altoona PA, Pennsylvania, US
Historical Data for Annual Rent as a Fraction of Income in Altoona Pennsylvania
| Date | US | Pennsylvania | Altoona, PA |
|---|---|---|---|
| 2019 | 20.03% | 17.98% | 16.87% |
| 2018 | 20.50% | 18.26% | 17.35% |
| 2017 | 20.13% | 18.10% | 17.96% |
| 2016 | 20.43% | 18.58% | 18.98% |
| 2015 | 20.63% | 18.70% | 17.30% |
| 2014 | 20.89% | 19.12% | 17.58% |
| 2013 | 20.78% | 19.11% | 17.08% |
| 2012 | 20.65% | 18.69% | 18.24% |
| 2011 | 20.70% | 18.78% | 17.30% |
| 2010 | 20.50% | 18.58% | 16.36% |
| 2009 | 20.12% | 17.88% | 16.63% |
| 2007 | 18.66% | 16.92% | 16.03% |
| 2005 | 18.89% | 17.43% | 17.25% |
Renter Fraction in Altoona Pennsylvania
You can calculate the renter fraction in Altoona in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Altoona as a fraction of total Altoona households. In 2019 29.35% of households were renters according to Census ACS data.
Altoona Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Pennsylvania | 31.59% | +0.19% | +0.09% |
| Altoona, PA | 29.35% | +1.40% | -2.05% |
Trends in the Altoona, PA Renter Fraction
The Altoona household renter fraction peaked in in 2017 at 33.98% and is now 4.63% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Altoona PA, Pennsylvania, US
History of Altoona Renter Fraction
| Date | US | Pennsylvania | Altoona, PA |
|---|---|---|---|
| 2019 | 35.89% | 31.59% | 29.35% |
| 2018 | 36.05% | 31.40% | 27.95% |
| 2017 | 36.13% | 31.70% | 33.98% |
| 2016 | 36.88% | 31.50% | 31.40% |
| 2015 | 36.97% | 31.28% | 29.42% |
| 2014 | 36.90% | 31.17% | 28.49% |
| 2013 | 36.50% | 31.05% | 28.45% |
| 2012 | 36.09% | 31.09% | 29.57% |
| 2011 | 35.42% | 30.51% | 25.53% |
| 2010 | 34.65% | 29.87% | 28.40% |
| 2009 | 34.13% | 29.48% | 26.92% |
| 2007 | 32.80% | 28.36% | 28.75% |
| 2005 | 33.10% | 28.52% | 29.15% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
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