Total monthly cost of ownership
Cost to Own a Home in State College, Pennsylvania
A $414,000 home here costs
$3,353per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $143,500 a year.
A standard mortgage calculator would have told you $2,257. The real number is $1,096 higher every month, 49% more than the payment most buyers budget for.
Compare Centre County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
State College against Centre County and Pennsylvania
| Measure | State College | Centre County |
|---|---|---|
| Median home value | $414,400 | $308,100 |
| Median property tax | $4,405 | $3,282 |
| Effective tax rate | 1.063% | 1.065% |
| Median gross rent | $1,229 | $1,181 |
| Population | 40,669 | 158,041 |
The weather behind that power bill
State College sits in Centre County, which averages a high of 81.1°F in its hottest month and a low of 20.5°F in its coldest, with 41.53" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 666 cooling and 6,049 heating degree days, which is what sets the $178 electricity line above.
See the full climate breakdown for Centre County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Centre County
Full Centre County cost breakdown · Every county in Pennsylvania
Talk to someone who works this market
These are State College averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works State College every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in State College I already own here and may sell
Common questions
How much does it cost to own a home in State College?
A $414,000 home in State College, Pennsylvania costs approximately $3,353 per month with 20% down at 7.24%. That is $2,257 principal and interest, $367 property tax, $138 homeowners insurance, $246 utilities and $345 set aside for maintenance.
What is the property tax rate in State College?
State College has an effective property tax rate of 1.063%, based on a median home value of $414,400 and median real estate taxes of $4,405. That is in line with the Centre County average of 1.065%.
What is the average home price in State College?
The median owner-occupied home value in State College, Pennsylvania is $414,400, against $308,100 across Centre County.
Is it cheaper to rent or buy in State College?
Median gross rent in State College is $1,229 a month, against $3,353 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in State College?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in State College, Pennsylvania at today's rate takes a household income of roughly $143,500 a year. That covers the full $3,353 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for State College, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Pennsylvania.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.