Total monthly cost of ownership
Cost to Own a Home in State College, Pennsylvania
A $414,000 home here costs
$3,240per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $2,128. The real number is $1,112 higher every month — 52% more than the payment most buyers budget for.
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 $194 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
Common questions
How much does it cost to own a home in State College?
A $414,000 home in State College, Pennsylvania costs approximately $3,240 per month with 20% down at 6.66%. That is $2,128 principal and interest, $367 property tax, $138 homeowners insurance, $262 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 $3,240 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
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.