The typical owner-occupied home in Centre County is worth about $323,500, 27% above the Pennsylvania median of $254,500 and 3% below the national median of $332,700. Owners pay a median $3,386 a year in property taxes, about 1.05% of their home's value, lower than the Pennsylvania rate of 1.30%. The median household earns $74,291 a year, so the median home costs 4.4 times the median income (3.3 times for Pennsylvania). 62% of occupied homes here are lived in by their owners, and 59% of those owners still have a mortgage.
Centre County at a glance
| Centre County | Pennsylvania | U.S. | |
|---|---|---|---|
| Median home value | $323,500 | $254,500 | $332,700 |
| Median property tax paid per year | $3,386 | $3,311 | $3,119 |
| Property tax as a share of value | 1.05% | 1.30% | 0.94% |
| Median household income | $74,291 | $77,971 | $80,734 |
| Homes lived in by their owners | 62% | 69% | 65% |
| Owner homes with a mortgage | 59% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,869 | $1,762 | $1,963 |
| Those costs as a share of the owners' income | 19.6% | 19.4% | 21.0% |
| Median rent | $1,207 | $1,209 | $1,413 |
| Rent as a share of renters' income | 34.4% | 29.2% | 30.6% |
| Median year homes were built | 1980 | 1965 | 1980 |
| Vacant homes | 11.2% | 9.2% | 10.1% |
| Population | 158,576 | 13,018,639 | 334,922,499 |
What a typical home costs per month in Centre County
At this week's average 30-year rate of 7.11%, buying the median Centre County home of $323,500 with 20% down costs about $2,159 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,698, 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 $92,520 for the 20%-down payment. That payment is 35% of the median Centre County household income of $74,291; at that income and 20% down, the 28% guideline points to a home of about $260,000.
The median rent here is $1,207 a month, so owning the median home costs about $952 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $64,700 |
|---|---|
| Loan amount | $258,800 |
| Principal and interest | $1,741 |
| Property taxes (1.05% a year) | $283 |
| Homeowners insurance (our estimate, 0.5% a year) | $135 |
| PMI | $0 |
| Total per month | $2,159 |
Change the numbers in the calculator
| Down payment | $11,322 |
|---|---|
| Loan amount | $317,641 |
| Principal and interest | $2,137 |
| Property taxes (1.05% a year) | $283 |
| Homeowners insurance (our estimate, 0.5% a year) | $135 |
| FHA mortgage insurance | $143 |
| Total per month | $2,698 |
Change the numbers in the calculator
Questions about home buying in Centre County
What is the median home value in Centre County?
About $323,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Centre County?
Homeowners pay a median $3,386 a year, which is about 1.05% 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 Centre County?
For the median home with 20% down at 7.11%, the payment is about $2,159 a month. Keeping that under 28% of gross income takes about $92,520 a year.
More about Centre County
- Mortgage Refinance in Centre County
- Debt Relief in Centre County
- Home Equity Loans in Centre County
- 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