Pennsylvania Housing Market Vitality

Market Rank


Pennsylvania metro area house prices are forecasted to underperform the national market over the next twelve months. Currently, the market is underperforming the overall U.S. market. Compared to 12-months ago, Pennsylvania’s housing market has weakened. Current local economic conditions support an estimated 7.1% increase in house prices over the next twelve months. Based on the housing market vitality of the twenty-one metro housing markets which comprise it, Pennsylvania’s housing market ranks forty-first amongst all states and D.C. The three-month outlook is negative.

Housing Market Vitality

Housing Market Vitality summarizes the impact of economic conditions on house prices. A value of 100 corresponds to conditions supporting current price appreciation; values less than 100 correspond to a dampening effect and values greater than 100 indicate a positive impact on house prices. A housing market vitality value can be interpreted as a growth rate. Hence, a reading of 105.8 can be interpreted as a 5.8% annualized increase in house prices.

Pennsylvania Metro Housing Markets

Pennsylvania is comprised of twenty-one metro housing markets that account for nearly 88% of the state’s population. The Keystone State metro housing markets are unique in their demographics and local economies and exhibit trends that are distinct from the national and state narrative. Each metro market presents its own unique opportunity.

Allentown-Bethlehem-Easton, PA-NJ Underperforming Positive190
Altoona, PA Underperforming Negative393
Bloomsburg-Berwick, PA Underperforming Negative398
Chambersburg-Waynesboro, PA Underperforming Positive183
East Stroudsburg, PA Outperforming Positive89
Erie, PA Underperforming Negative306
Gettysburg, PA Underperforming Negative352
Harrisburg-Carlisle, PA Underperforming Negative307
Johnstown, PA Underperforming Positive259
Lancaster, PA Underperforming Negative284
Lebanon, PA Underperforming Neutral253
Montgomery County-Bucks County-Chester County, PA Underperforming Negative317
Newark, NJ-PA Underperforming Negative311
Philadelphia, PA Underperforming Negative388
Pittsburgh, PA Underperforming Negative359
Reading, PA Underperforming Positive195
Scranton–Wilkes-Barre–Hazleton, PA Underperforming Positive163
State College, PA Underperforming Negative399
Williamsport, PA Underperforming Negative367
York-Hanover, PA Underperforming Negative303
Youngstown-Warren-Boardman, OH-PA Underperforming Positive233

Industry Specialization

Pennsylvania’s state economy is specialized in Edu Health svcs and Manufacturing. Mining, Construction, and Information industry sectors are less important to the state economy compared to the national economy.

Industry specialization helps explain the differing impact of industry trends on local economies in contrast to industry composition which describes the structure of the economy. A Specialization Index value greater than 100 corresponds to the sector having a greater share of the state economy than it does of the national economy. Sectors with a Specialization Index greater than 120 characterize the local economy.


Compared to the U.S., there is a lower incidence of poverty amongst Pennsylvania residents and they have greater purchasing power. There are more high school graduates and a smaller proportion of the population is college educated. Pennsylvania’s population is comparatively less diverse than the overall U.S. population.

A Demographics Index value greater than 100 corresponds to the factor being more intense in the state versus the national average. Characteristics of the local population is a longer-term factor that influences the housing market.

Updated December 30, 2022 with data through October 2022