Department of Numbers

Centre County Pennsylvania Residential Rent and Rental Statistics

The median monthly gross residential rent in Centre County PA was $920 in 2017 according to the Census ACS survey.1 Average gross rent in Centre County was $1,008 in 2017. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2018 Centre County median and average rent data will be released in September of 2019.

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.

Show dollars as: Nominal Real

Real Gross Rent in Centre County Pennsylvania (2017 dollars)2

2017 1 Year Change 3 Year Change
US Median Gross Rent $1,012 +1.61% +5.86%
Pennsylvania Median Gross Rent $893 -0.22% +2.88%
Centre County PA Median Gross Rent $920 -7.72% -1.39%

Centre County PA Real Gross Rent Trends

Median gross rent for Centre County peaked in real terms in 2016 at $997 and is now $77 (7.72%) lower. Average gross rent for Centre County peaked in real terms in 2015 at $1,043 and is now $35 (3.36%) lower.

Real Gross Rent: Centre County PA Median, Centre County PA Average, Pennsylvania Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Centre County

Date US
Median
Pennsylvania
Median
Centre County PA
Median
Centre County PA
Average
2017 $1,012 $893 $920 $1,008
2016 $996 $895 $997 $1,042
2015 $987 $893 $972 $1,043
2014 $956 $868 $933 $974
2013 $924 $846 $888 $1,024
2012 $912 $823 $941 $1,028
2011 $912 $823 $862 $957
2010 $927 $827 $895 $950
2009 $931 $816 $850 $913
2008 $947 $834 $883 $949
2007 $899 $781 $776 $839
2006 $909 $791 $836 $898

Centre County Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2017 the rental vacancy rate for Centre County Pennsylvania was 7.04% according to Census ACS data.

Rental Vacancy Rate in Centre County Pennsylvania

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
Pennsylvania 5.84% +0.07% -0.56%
Centre County PA 7.04% +2.83% +5.14%

Trends in Centre County PA Rental Vacancy Rate

At 7.04%, Centre County residential rental vacancy rate in 2017 is at the highest point since 2005, the beginning of our reporting for this series.

Rental Vacancy Rate: Centre County PA, Pennsylvania, US

Rental vacancy rate in Pennsylvania

Historical Rental Vacancy Rate data for Centre County

Date US Pennsylvania Centre County PA
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%
2008 7.86% 6.65% 1.94%
2007 7.87% 7.34% 1.50%
2006 7.70% 8.09% 3.14%

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 19.75% in 2017 according to the ACS.

Centre County Pennsylvania Median Annual Rent as a Fraction of Median Household Income

2017 1 Year Change 3 Year Change
US 20.13% -0.30% -0.76%
Pennsylvania 18.10% -0.47% -1.01%
Centre County PA 19.75% +0.20% -1.53%

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 2.40% to 19.75%.

Fraction of Income towards Rent: Centre County PA, Pennsylvania, US

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

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

Date US Pennsylvania Centre County PA
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%
2008 19.00% 17.18% 19.41%
2007 18.66% 16.92% 18.30%
2006 18.90% 17.22% 20.60%

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 2017 37.62% of households were renters according to Census ACS data.

Centre County Fraction of Renters by Household Units

2017 1 Year Change 3 Year Change
US 36.13% -0.75% -0.77%
Pennsylvania 31.70% +0.20% +0.53%
Centre County PA 37.62% +1.87% -2.57%

Trends in the Centre County PA Renter Fraction

The Centre County household renter fraction peaked in in 2009 at 43.26% and is now 5.64% below that level. From a recent low of 35.75% in 2016, the household based renter fraction has now grown by 1.87%. The origin year for the series is 2005.

Fraction of Renting Households: Centre County PA, Pennsylvania, US

Fraction of renters in Centre County

History of Centre County Renter Fraction

Date US Pennsylvania Centre County PA
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%
2008 33.36% 29.15% 37.97%
2007 32.80% 28.36% 37.32%
2006 32.73% 28.28% 40.24%

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.