Johnstown, 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
2.06×
The single most-cited 'is this market still cheap' check. Below 3× and you're in an affordability tailwind.
- vs Pennsylvania
- 3.03×-0.97
- vs U.S.
- 3.43×-1.37
Benchmark
ACS median home value ÷ median HHI
comfortable
Rent to income
22.1%
What share of a typical household's income goes to rent. Below 30% means tenants can absorb modest rent increases.
- vs Pennsylvania
- 22.4%-0.3
- vs U.S.
- 23.3%-1.2
Benchmark
(HUD FMR 2BR × 12) ÷ median HHI
solid
Cap rate proxy
6.97%
Rough first-pass yield assuming a 35% expense ratio. Not an underwriting number — a 'is this even worth modeling' filter.
- vs Pennsylvania
- 4.86%+2.11
- vs U.S.
- 4.35%+2.62
Benchmark
(FMR 2BR × 12 × 0.65) ÷ ACS median home value
shrinking
Net migration
-0.06%
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
0.47
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
softening
Unemployment
4.4%
Tighter unemployment means higher wages, more rental demand, lower vacancy.
- vs Pennsylvania
- 3.6%
- vs U.S.
- 3.9%
Benchmark
BLS LAUS, latest month
Where prices are and where they've been
5-year price appreciation
+44.9%
homeValues.yearOverYear
+3.1%
Median home value
$115,900
The rent ladder
| Bedroom | Monthly | Annual | % of median HHI |
|---|---|---|---|
| 1 BR | $846 | $10,152 | 18.0% |
| 2 BR | $1,035 | $12,420 | 22.1% |
| 3 BR | $1,431 | $17,172 | 30.5% |
Labor market direction
Unemployment
4.4%
Median household income
$56,292
What's being built
Total TTM
63
+34.0% YoY
Single-family
60
2–4 unit
3
5+ unit
0
All 1 counties, ranked by population
| County | Population | Home value | Median HHI | Permits TTM | YoY |
|---|---|---|---|---|---|
| Cambria County | 133,263 | $115,900 | $56,292 | 63 | +34.0% |
Similar metros nationally
| Metro | Pop | Med HHI | P/I | Cap proxy | HPI 5y | Permits/1k | Unemp |
|---|---|---|---|---|---|---|---|
| ★Johnstown | 133,263 | $56,292 | 2.06× | 6.97% | +44.9% | 0.47 | 4.4% |
| Jonesboro, AR | 134,035 | $55,478 | — | — | +38.9% | — | 3.9% |
| Hammond, LA | 133,953 | $57,256 | — | — | +39.7% | — | 4.7% |
| The Villages, FL | 131,832 | $55,228 | — | — | — | — | — |
| Sumter, SC | 136,362 | $55,990 | — | — | +51.6% | — | 6.0% |
| Wheeling, WV-OH | 139,287 | $58,705 | — | — | +35.3% | — | 4.5% |
Where people are moving in from
Net migration
-79
-0.06% of population
| Origin county | Tax returns |
|---|---|
| Somerset County, PA | 251 |
| Blair County, PA | 199 |
| Indiana County, PA | 124 |
| Allegheny County, PA | 103 |
| Philadelphia County, PA | 97 |
| Westmoreland County, PA | 95 |
Who lives in Johnstown
- Median age
- 46
- Bachelor's+
- 23.0%
- Owner-occupancy
- 75.8%
- Vacancy rate
- 13.6%
- Rent burdened (30%+)
- 38.2%
- Median household income
- $56,292
This page shows federally sourced data. A full editorial analysis with charts and investment commentary is in progress.