Department of Numbers

Altoona Pennsylvania Residential Rent and Rental Statistics

The median monthly gross residential rent in Altoona, PA (the Altoona metro area) was $687 in 2016 according to the Census ACS survey.1 Average gross rent in Altoona was $665 in 2016. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2017 Altoona median and average rent data will be released in September of 2018.

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 (2016 dollars)2

2016 1 Year Change 3 Year Change
US Median Gross Rent $981 +0.93% +7.80%
Pennsylvania Median Gross Rent $881 +0.23% +5.76%
Altoona, PA Median Gross Rent $687 +3.46% +13.93%

Altoona, PA Real Gross Rent Trends

At $687, real median gross rent in Altoona was at its highest level in 2016 since the series began in 2005. At $665, real average gross rent in Altoona was at its highest level in 2016 since the series began in 2005.

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
2016 $981 $881 $687 $665
2015 $972 $879 $664 $629
2014 $942 $855 $650 $605
2013 $910 $833 $603 $560
2012 $898 $811 $637 $641
2011 $898 $811 $642 $660
2010 $912 $814 $625 $641
2009 $916 $803 $580 $606
2008 $932 $821 $572 $604
2007 $885 $769 $637 $628
2006 $895 $779 $573 $539
2005 $869 $772 $579 $547

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

2016 1 Year Change 3 Year Change
US 5.89% +0.04% -0.60%
Pennsylvania 5.77% 0.00% -0.01%
Altoona, PA

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
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%
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 18.98% in 2016 according to the ACS.

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

2016 1 Year Change 3 Year Change
US 20.43% -0.20% -0.35%
Pennsylvania 18.58% -0.12% -0.53%
Altoona, PA 18.98% +1.68% +1.90%

Trends in Altoona, PA Rent as a Fraction of Income

Altoona renters paid 18.98% of median household income towards the median monthly gross rent in 2016. This is the highest fraction of median household income going to rent since the series originated in 2005.

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
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%
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 2016 31.40% of households were renters according to Census ACS data.

Altoona Fraction of Renters by Household Units

2016 1 Year Change 3 Year Change
US 36.88% -0.09% +0.38%
Pennsylvania 31.50% +0.22% +0.45%
Altoona, PA 31.40% +1.98% +2.95%

Trends in the Altoona, PA Renter Fraction

At 31.40%, the 2016 household based renter fraction in Altoona was at its highest 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
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%
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.