Department of Numbers

Altoona Pennsylvania Residential Rent and Rental Statistics

The median monthly gross residential rent in Altoona, PA (the Altoona metro area) was $655 in 2015 according to the Census ACS survey.1 Average gross rent in Altoona was $621 in 2015. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2016 Altoona median and average rent data will be released in September of 2017.

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.

Show dollars as: Nominal Real

Real Gross Rent in Altoona Pennsylvania (2015 dollars)2

2015 1 Year Change 3 Year Change
US Median Gross Rent $959 +3.12% +8.24%
Pennsylvania Median Gross Rent $868 +2.84% +8.50%
Altoona, PA Median Gross Rent $655 +2.02% +4.13%

Altoona, PA Real Gross Rent Trends

At $655, real median gross rent in Altoona was at its highest level in 2015 since the series began in 2005. Average gross rent for Altoona peaked in real terms in 2011 at $652 and is now $31 (4.75%) lower.

Real Gross Rent in Altoona: Altoona PA Median, Altoona PA Average, Pennsylvania Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Altoona

Date US
Median
Pennsylvania
Median
Altoona, PA
Median
Altoona, PA
Average
2015 $959 $868 $655 $621
2014 $930 $844 $642 $597
2013 $898 $822 $596 $553
2012 $886 $800 $629 $633
2011 $887 $800 $633 $652
2010 $901 $804 $617 $633
2009 $905 $793 $573 $598
2008 $920 $811 $565 $596
2007 $874 $759 $629 $620
2006 $883 $769 $566 $532
2005 $858 $762 $572 $540

Altoona Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2015 the rental vacancy rate for Altoona Pennsylvania was 2.22% according to Census ACS data.

Rental Vacancy Rate in Altoona Pennsylvania

2015 1 Year Change 3 Year Change
US 5.85% -0.47% -0.92%
Pennsylvania 5.77% -0.63% -0.11%
Altoona, PA 2.22% -4.54% -2.98%

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 9.45% to 2.22%. Data records for this series originated in 2005.

Rental Vacancy Rate: Altoona PA, Pennsylvania, US

Rental vacancy rate in Pennsylvania

Historical Rental Vacancy Rate data for Altoona

Date US Pennsylvania Altoona, PA
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%
2008 7.86% 6.65% 7.66%
2007 7.87% 7.34% 2.73%
2006 7.70% 8.09% 11.67%
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 17.30% in 2015 according to the ACS.

Altoona Pennsylvania Median Annual Rent as a Fraction of Median Household Income

2015 1 Year Change 3 Year Change
US 20.63% -0.26% -0.02%
Pennsylvania 18.70% -0.42% +0.01%
Altoona, PA 17.30% -0.28% -0.94%

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 2012 (relative to the 2005 series origin) at 18.24%. Since then it has fallen by 0.94% to 17.30%.

Fraction of Income towards Rent: Altoona PA, Pennsylvania, US

Percent of median household income going towards median monthly gross rent in Altoona Pennsylvania

Historical Data for Annual Rent as a Fraction of Income in Altoona Pennsylvania

Date US Pennsylvania Altoona, PA
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%
2008 19.00% 17.18% 15.05%
2007 18.66% 16.92% 16.03%
2006 18.90% 17.22% 14.41%
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 2015 29.42% of households were renters according to Census ACS data.

Altoona Fraction of Renters by Household Units

2015 1 Year Change 3 Year Change
US 36.97% +0.07% +0.88%
Pennsylvania 31.28% +0.11% +0.19%
Altoona, PA 29.42% +0.93% -0.15%

Trends in the Altoona, PA Renter Fraction

The Altoona household renter fraction peaked in in 2012 at 29.57% and is now 0.15% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Altoona PA, Pennsylvania, US

Fraction of renters in Altoona

History of Altoona Renter Fraction

Date US Pennsylvania Altoona, PA
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%
2008 33.36% 29.15% 28.11%
2007 32.80% 28.36% 28.75%
2006 32.73% 28.28% 25.90%
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.