The typical owner-occupied home in Loretto is worth about $204,300, 20% below the Pennsylvania median of $254,500 and 39% below the national median of $332,700. Owners pay a median $1,696 a year in property taxes, about 0.83% of their home's value, lower than the Pennsylvania rate of 1.30%. The median household earns $63,929 a year, so the median home costs 3.2 times the median income (3.3 times for Pennsylvania). 75% of occupied homes here are lived in by their owners, and 47% of those owners still have a mortgage.
Loretto at a glance
| Loretto | Pennsylvania | U.S. | |
|---|---|---|---|
| Median home value | $204,300 | $254,500 | $332,700 |
| Median property tax paid per year | $1,696 | $3,311 | $3,119 |
| Property tax as a share of value | 0.83% | 1.30% | 0.94% |
| Median household income | $63,929 | $77,971 | $80,734 |
| Homes lived in by their owners | 75% | 69% | 65% |
| Owner homes with a mortgage | 47% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,517 | $1,762 | $1,963 |
| Those costs as a share of the owners' income | 19.0% | 19.4% | 21.0% |
| Median rent | – | $1,209 | $1,413 |
| Rent as a share of renters' income | 29.2% | 29.2% | 30.6% |
| Median year homes were built | 1956 | 1965 | 1980 |
| Vacant homes | 45.2% | 9.2% | 10.1% |
| Population | 1,420 | 13,018,639 | 334,922,499 |
What a typical home costs per month in Loretto
At this week's average 30-year rate of 7.11%, buying the median Loretto home of $204,300 with 20% down costs about $1,326 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,666, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $56,824 for the 20%-down payment. That payment is 25% of the median Loretto household income of $63,929; at that income and 20% down, the 28% guideline points to a home of about $230,000.
| Down payment | $40,860 |
|---|---|
| Loan amount | $163,440 |
| Principal and interest | $1,099 |
| Property taxes (0.83% a year) | $141 |
| Homeowners insurance (our estimate, 0.5% a year) | $85 |
| PMI | $0 |
| Total per month | $1,326 |
Change the numbers in the calculator
| Down payment | $7,150 |
|---|---|
| Loan amount | $200,600 |
| Principal and interest | $1,349 |
| Property taxes (0.83% a year) | $141 |
| Homeowners insurance (our estimate, 0.5% a year) | $85 |
| FHA mortgage insurance | $90 |
| Total per month | $1,666 |
Change the numbers in the calculator
Questions about home buying in Loretto
What is the median home value in Loretto?
About $204,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Loretto?
Homeowners pay a median $1,696 a year, which is about 0.83% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Loretto?
For the median home with 20% down at 7.11%, the payment is about $1,326 a month. Keeping that under 28% of gross income takes about $56,824 a year.
More about Loretto
- Mortgage Refinance in Loretto
- Debt Relief in Loretto
- Home Equity Loans in Loretto
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data