Pennsylvania Housing Market Vitality

Market Rank


Pennsylvania metro area house prices are forecasted to outperform the national market over the next twelve months. Currently, the market is tracking the overall U.S. market. Compared to 12-months ago, Pennsylvania’s housing market has strengthened. Current local economic conditions support an estimated 5.5% 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 nineteenth amongst all states and D.C. The three-month outlook is neutral.

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 Outperforming Positive 112
Altoona, PA Tracking Negative 273
Bloomsburg-Berwick, PA Underperforming Negative 324
Chambersburg-Waynesboro, PA Underperforming Negative 370
East Stroudsburg, PA Outperforming Negative 268
Erie, PA Tracking Positive 173
Gettysburg, PA Outperforming Neutral 168
Harrisburg-Carlisle, PA Tracking Positive 175
Johnstown, PA Underperforming Negative 362
Lancaster, PA Tracking Positive 134
Lebanon, PA Underperforming Positive 158
Montgomery County-Bucks County-Chester County, PA Underperforming Positive 211
Newark, NJ-PA Underperforming Negative 326
Philadelphia, PA Outperforming Positive 77
Pittsburgh, PA Outperforming Positive 144
Reading, PA Outperforming Positive 70
Scranton–Wilkes-Barre–Hazleton, PA Outperforming Negative 243
State College, PA Underperforming Negative 368
Williamsport, PA Outperforming Positive 101
York-Hanover, PA Tracking Positive 183
Youngstown-Warren-Boardman, OH-PA Underperforming Negative 296

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.

Data through November 2020