Altoona, PA
The numbers that matter most
What an investor checks first when sizing up a new metro — affordability ratio, rent vs income, cap rate proxy, and where the market is moving. Each metric shown vs. state and national medians for instant context.
affordable
Price to income
2.59×
The single most-cited 'is this market still cheap' check. Below 3× and you're in an affordability tailwind.
- vs Pennsylvania
- 3.03×-0.44
- vs U.S.
- 3.43×-0.84
Benchmark
ACS median home value ÷ median HHI
comfortable
Rent to income
22.5%
What share of a typical household's income goes to rent. Below 30% means tenants can absorb modest rent increases.
- vs Pennsylvania
- 22.4%
- vs U.S.
- 23.3%-0.7
Benchmark
(HUD FMR 2BR × 12) ÷ median HHI
deal-by-deal
Cap rate proxy
5.66%
Rough first-pass yield assuming a 35% expense ratio. Not an underwriting number — a 'is this even worth modeling' filter.
- vs Pennsylvania
- 4.86%+0.81
- vs U.S.
- 4.35%+1.32
Benchmark
(FMR 2BR × 12 × 0.65) ÷ ACS median home value
steady
Net migration
+0.01%
Forward-looking demand signal. Positive net migration drives rent growth and absorbs new supply.
- vs Pennsylvania
- 0.09%
- vs U.S.
- 0.03%
Benchmark
IRS net migration ÷ population
tight
Permit pipeline
0.73
permits per 1,000 residents
Forward-supply indicator. Above ~5 means the metro is building meaningfully relative to its size; below 2 means supply is tight.
- vs Pennsylvania
- 2.17
- vs U.S.
- 3.52
Benchmark
Census BPS permits TTM ÷ population × 1,000
healthy
Unemployment
3.7%
Tighter unemployment means higher wages, more rental demand, lower vacancy.
- vs Pennsylvania
- 3.6%
- vs U.S.
- 3.9%-0.2
Benchmark
BLS LAUS, latest month
Where prices are and where they've been
5-year price appreciation
+42.1%
homeValues.yearOverYear
+0.4%
Median home value
$156,700
The rent ladder
| Bedroom | Monthly | Annual | % of median HHI |
|---|---|---|---|
| 1 BR | $948 | $11,376 | 18.8% |
| 2 BR | $1,138 | $13,656 | 22.5% |
| 3 BR | $1,458 | $17,496 | 28.9% |
Labor market direction
Unemployment
3.7%
Median household income
$60,594
What's being built
Total TTM
90
Single-family
66
2–4 unit
19
5+ unit
5
All 1 counties, ranked by population
| County | Population | Home value | Median HHI | Permits TTM | YoY |
|---|---|---|---|---|---|
| Blair County | 122,640 | $156,700 | $60,594 | 90 | -9.1% |
Similar metros nationally
| Metro | Pop | Med HHI | P/I | Cap proxy | HPI 5y | Permits/1k | Unemp |
|---|---|---|---|---|---|---|---|
| ★Altoona | 122,640 | $60,594 | 2.59× | 5.66% | +42.1% | 0.73 | 3.7% |
| Sierra Vista-Douglas, AZ | 125,504 | $58,970 | — | — | +56.8% | — | 4.9% |
| St. Joseph, MO-KS | 121,952 | $62,900 | — | — | +53.8% | — | 3.1% |
| New Bern, NC | 122,678 | $63,380 | — | — | — | — | — |
| Lawton, OK | 127,314 | $59,060 | — | — | +34.4% | — | 4.4% |
| Mansfield, OH | 125,008 | $57,649 | — | — | +63.6% | — | 4.8% |
Where people are moving in from
Net migration
+8
+0.01% of population
| Origin county | Tax returns |
|---|---|
| Cambria County, PA | 196 |
| Bedford County, PA | 152 |
| Huntingdon County, PA | 119 |
| Centre County, PA | 109 |
| Allegheny County, PA | 78 |
| Clearfield County, PA | 62 |
Who lives in Altoona
- Median age
- 43
- Bachelor's+
- 24.1%
- Owner-occupancy
- 72.4%
- Vacancy rate
- 9.4%
- Rent burdened (30%+)
- 43.2%
- Median household income
- $60,594
This page shows federally sourced data. A full editorial analysis with charts and investment commentary is in progress.