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Centre County, PA

RANK #482 / 996  ·  POP 158,665  ·  PA

PROJECTED GROWTH: +0.8%

Centre County's economy is holding up, but population decline raises questions about long-term trajectory.

[01] Why Centre County?

The historic borough of Bellefonte, known as the "Victorian Jewel" of Pennsylvania, serves as Centre County's seat and offers a glimpse into the region's past with its preserved architecture and natural Big Spring. Centre County is located in central Pennsylvania, roughly bisected by the Allegheny Mountains, and is home to Penn State University's main campus in State College. The county's landscape features forested plateaus, rolling limestone valleys, and numerous state parks like Bald Eagle, Black Moshannon, and Poe Valley, providing extensive outdoor recreation opportunities. Commuting within the county is facilitated by the Centre Area Transportation Authority (CATA), which offers bus services connecting State College, Bellefonte, and surrounding areas, including routes to Penn State.

Life in Centre County balances metropolitan conveniences with rural charm, attracting a mix of young professionals and families. Public schools in the county, including the State College Area School District, are recognized for their quality. The economy is largely driven by education and healthcare, with Penn State University and Mount Nittany Medical Center being major employers. Recent economic development initiatives aim to diversify the economy by supporting business expansion and targeting growth in sectors such as high-tech manufacturing, life sciences, and sensor technology. There is also a focus on developing infrastructure, including expanding air service and addressing housing needs across various income levels.

[02] Market Snapshot

Housing Ratio
5.1x

Above national median (4.7x)

GDP Growth
+1.5%

Below national median

Home Prices
+1.9%

Above national median

Climate & Terrain
-0.4

Below-average climate & terrain

Price/Rent
15x

Above national median (13x)

Housing is fairly valued at 5.1x relative to local economic output. The typical U.S. county is 4–6x.

[03] Signal Profile

[04] Home Value Growth vs National

Centre County U.S. National

The Numbers

DEMOGRAPHICS
Population
158,665
-0.13% YoY
Median Household Income
$70,087
Median Home Value
$289,800
+1.9% 12mo
Median Rent
$1,118
Average Annual Pay
$62,822
+4.9% YoY
Employment
68,578
+0.2% YoY
Income-to-Home-Value
0.2418
Near national average
Migration Inflow
7.02%
of pop. from another state

Market Activity

REAL ESTATE
Median Sale Price
$385,000
Days on Market
15
Very hot — homes selling fast
Months of Supply
2.7
Seller's market
Sale-to-List Ratio
99.3%
Near asking price
Sold Above List
21.7%
Listings w/ Price Drops
17.5%
Building Permits (2024)
367
Single-Family Permits
290

Source: Redfin · Census BPS — Browse sales on Redfin →

[05] Capital Investment

$427M
TOTAL
PROJECT AMOUNT STATUS
Black Moshannon Solar Project
Undisclosed Developer (approved by Rush Township Supervisors)
$265M Planned
MPG Solar Project
MPG Solar (Energix Renewables)
$162M Planned

Source: public records, news, corporate announcements. Amounts are estimates where noted.

[06] Score Breakdown

GDP Growth +1.5% 26 percentile
Population Growth -0.1% 23 percentile
Income Growth +7.8% 34 percentile
Vacancy Rate 1.3% 34 percentile
Home Price Change +1.9% 58 percentile
Rent Growth +4.8% 76 percentile
Price/Rent 15x 35 percentile

Bars show percentile rank among all 996 counties.

[07] Frequently Asked Questions

Is Centre County, PA a good place to move to?

Centre County has a Boom Town Index score of 52/100, ranking #482 among 996 U.S. counties. With job growth at +0.2% and a median household income of $70,087, it's an above-average county on economic indicators.

Is Centre County affordable?

The median home value in Centre County is $289,800 with median rent at $1,118/month. The income-to-home-value ratio is 0.2418, which is less affordable than the national average.

Is Centre County growing or shrinking?

Population growth: -0.1% year-over-year. Job growth: +0.2%. Home values changed +1.9% in the past 12 months.

Are people moving to Centre County?

Yes — 7.02% of Centre County's population moved from another state, which is above the national average and indicates strong in-migration.

[08] Similar Metros

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