Centre County Pennsylvania Residential Rent and Rental Statistics
The median monthly gross residential rent in Centre County PA was $995 in 2019 according to the Census ACS survey.1 Average gross rent in Centre County was $1,050 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 Centre County median and average rent data will be released in September of 2021.
Data is also available below for Centre County rental vacancy rates, Centre County rent as a percent of median income and the fraction of renters in Centre County.
Real Gross Rent in Centre County 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% |
| Centre County PA Median Gross Rent | $995 | +8.39% | -3.21% |
Centre County PA Real Gross Rent Trends
Median gross rent for Centre County peaked in real terms in 2016 at $1,028 and is now $33 (3.21%) lower. Average gross rent for Centre County peaked in real terms in 2015 at $1,076 and is now $26 (2.42%) lower.
Real Gross Rent: Centre County PA Median, Centre County PA Average, Pennsylvania Median, US Median
Real Gross Rent History for Centre County
| Date | US Median |
Pennsylvania Median |
Centre County PA Median |
Centre County PA Average |
|---|---|---|---|---|
| 2019 | $1,097 | $951 | $995 | $1,050 |
| 2018 | $1,077 | $944 | $918 | $1,010 |
| 2017 | $1,043 | $921 | $949 | $1,039 |
| 2016 | $1,027 | $923 | $1,028 | $1,074 |
| 2015 | $1,017 | $921 | $1,002 | $1,076 |
| 2014 | $986 | $895 | $962 | $1,004 |
| 2013 | $953 | $872 | $915 | $1,056 |
| 2012 | $940 | $849 | $970 | $1,060 |
| 2011 | $941 | $849 | $889 | $987 |
| 2010 | $955 | $853 | $923 | $980 |
| 2009 | $960 | $841 | $876 | $941 |
| 2007 | $927 | $805 | $800 | $865 |
| 2005 | $910 | $809 | $861 | $984 |
Centre County 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 Centre County Pennsylvania was 4.55% according to Census ACS data.
Rental Vacancy Rate in Centre County Pennsylvania
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Pennsylvania | 4.87% | -0.42% | -0.90% |
| Centre County PA | 4.55% | -0.83% | +0.34% |
Trends in Centre County PA Rental Vacancy Rate
The rental vacancy rate in Centre County peaked in 2017 at 7.04%. Since then it has fallen by 2.49% to 4.55%. Data records for this series originated in 2005.
Rental Vacancy Rate: Centre County PA, Pennsylvania, US
Historical Rental Vacancy Rate data for Centre County
| Date | US | Pennsylvania | Centre County PA |
|---|---|---|---|
| 2019 | 5.97% | 4.87% | 4.55% |
| 2018 | 6.15% | 5.29% | 5.38% |
| 2017 | 6.18% | 5.84% | 7.04% |
| 2016 | 5.89% | 5.77% | 4.21% |
| 2015 | 5.85% | 5.77% | 2.24% |
| 2014 | 6.32% | 6.40% | 1.90% |
| 2013 | 6.49% | 5.78% | 1.31% |
| 2012 | 6.77% | 5.88% | 1.77% |
| 2011 | 7.40% | 6.13% | 1.33% |
| 2010 | 8.17% | 6.47% | 2.48% |
| 2009 | 8.43% | 6.80% | 2.66% |
| 2007 | 7.87% | 7.34% | 1.50% |
| 2005 | 7.74% | 7.94% | 1.20% |
Rent as a Fraction of Income
Using median household income data for Centre County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Centre County, median monthly gross rent as a fraction of median household income was 19.67% in 2019 according to the ACS.
Centre County 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% |
| Centre County PA | 19.67% | +0.79% | +0.12% |
Trends in Centre County PA Rent as a Fraction of Income
The fraction of median Centre County household income required to pay median monthly gross rent peaked in 2010 (relative to the 2005 series origin) at 22.15%. Since then it has fallen by 2.48% to 19.67%.
Fraction of Income towards Rent: Centre County PA, Pennsylvania, US
Historical Data for Annual Rent as a Fraction of Income in Centre County Pennsylvania
| Date | US | Pennsylvania | Centre County PA |
|---|---|---|---|
| 2019 | 20.03% | 17.98% | 19.67% |
| 2018 | 20.50% | 18.26% | 18.88% |
| 2017 | 20.13% | 18.10% | 19.75% |
| 2016 | 20.43% | 18.58% | 19.55% |
| 2015 | 20.63% | 18.70% | 20.13% |
| 2014 | 20.89% | 19.12% | 21.28% |
| 2013 | 20.78% | 19.11% | 19.60% |
| 2012 | 20.65% | 18.69% | 21.54% |
| 2011 | 20.70% | 18.78% | 21.02% |
| 2010 | 20.50% | 18.58% | 22.15% |
| 2009 | 20.12% | 17.88% | 18.85% |
| 2007 | 18.66% | 16.92% | 18.30% |
| 2005 | 18.89% | 17.43% | 21.50% |
Renter Fraction in Centre County Pennsylvania
You can calculate the renter fraction in Centre County 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 Centre County as a fraction of total Centre County households. In 2019 39.38% of households were renters according to Census ACS data.
Centre County 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% |
| Centre County PA | 39.38% | +2.56% | +3.63% |
Trends in the Centre County PA Renter Fraction
The Centre County household renter fraction peaked in in 2009 at 43.26% and is now 3.88% below that level. From a recent low of 35.75% in 2016, the household based renter fraction has now grown by 3.63%. The origin year for the series is 2005.
Fraction of Renting Households: Centre County PA, Pennsylvania, US
History of Centre County Renter Fraction
| Date | US | Pennsylvania | Centre County PA |
|---|---|---|---|
| 2019 | 35.89% | 31.59% | 39.38% |
| 2018 | 36.05% | 31.40% | 36.82% |
| 2017 | 36.13% | 31.70% | 37.62% |
| 2016 | 36.88% | 31.50% | 35.75% |
| 2015 | 36.97% | 31.28% | 40.92% |
| 2014 | 36.90% | 31.17% | 40.19% |
| 2013 | 36.50% | 31.05% | 38.10% |
| 2012 | 36.09% | 31.09% | 39.49% |
| 2011 | 35.42% | 30.51% | 40.86% |
| 2010 | 34.65% | 29.87% | 41.34% |
| 2009 | 34.13% | 29.48% | 43.26% |
| 2007 | 32.80% | 28.36% | 37.32% |
| 2005 | 33.10% | 28.52% | 41.43% |
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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