Metro area index
Home appreciation in the State College, PA metro area
FHFA HPI® data shows the State College, PA metro area's all-transactions index changed +3.2% over the year to Q2 2026, versus +4.7% for Pennsylvania and +3.0% for the U.S. That ranks 219th of 410 metro areas and divisions FHFA tracks.
- 1-year change
- +3.2%
- 5-year change
- +37.5%
- Since Q1 1995
- +252%
- Metro rank (1 year)
- 219th
U.S. +3.0%
U.S. +41.3%
U.S. +292%
of 410
State College, PA vs Pennsylvania and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- State College, PA: 352.5
- Pennsylvania: 355.6
- United States: 391.6
Appreciation by time window
| Window | Metro | PA | U.S. | Gap vs PA | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +3.2% | +4.7% | +3.0% | −1.5 pts | +0.1 pts |
| 3 years | +11.9% | +18.1% | +12.9% | −6.1 pts | −0.9 pts |
| 5 years | +37.5% | +44.2% | +41.3% | −6.8 pts | −3.8 pts |
| 10 years | +69.8% | +86.9% | +93.3% | −17.1 pts | −23.5 pts |
| Since Q1 1995 | +252% | +256% | +292% | −3.2 pts | −39.1 pts |
3-digit ZIP regions in the State College, PA area
Regions with at least 10% of their 2010 population inside the metro, largest overlap first. A 3-digit ZIP region can extend beyond the metro boundary.
| 3-digit ZIP region | State | 1 year | 5 years | Since Q1 1995 | Population in metro |
|---|---|---|---|---|---|
| 168 · State College, PA area | PA | +2.2% | +39.6% | +253% | 78% |
Boom, bust, and recovery in State College, PA area
State College, PA area's index peaked in Q4 2008, fell 2.1% to its low in Q2 2010, and regained its peak in Q4 2010, about 2 years after the top. Today it sits +88.9% versus that 2000s peak. How every state and ZIP region fared
| Area | 2000s peak | Low point | Peak to low | Back to peak | Today vs peak |
|---|---|---|---|---|---|
| Metro | Q4 2008 | Q2 2010 | -2.1% | Q4 2010 (2 yrs) | +88.9% |
| PA | Q1 2008 | Q2 2012 | -9.4% | Q2 2017 (9.2 yrs) | +83.0% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, State College, PA area's index has changed +59.2% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | Metro after inflation | PA after inflation | U.S. after inflation |
|---|---|---|---|---|
| 1 year | +3.9% | -0.7% | +0.8% | -0.8% |
| 3 years | +9.8% | +1.9% | +7.5% | +2.8% |
| 5 years | +24.0% | +10.8% | +16.3% | +13.9% |
| 10 years | +39.1% | +22.1% | +34.4% | +39.0% |
| Since Q1 1995 | +121% | +59.2% | +60.6% | +76.8% |
If you bought in the State College, PA area in…
An example $300,000 purchase grown at the metro index rate to Q2 2026.
| Bought in | Index change | $300,000 then, at the metro rate |
|---|---|---|
| Q2 1995 | +245% | $1,034,994 |
| Q2 2000 | +197% | $890,175 |
| Q2 2005 | +119% | $657,679 |
| Q2 2010 | +93.0% | $579,084 |
| Q2 2015 | +74.4% | $523,337 |
| Q2 2020 | +44.7% | $433,980 |
| Q2 2021 | +37.5% | $412,415 |
| Q2 2023 | +11.9% | $335,731 |
| Q2 2025 | +3.2% | $309,492 |
Frequently asked questions
- How much have home prices risen in the State College, PA area?
- FHFA HPI® data for the State College, PA metro area shows changes of +3.2% over one year, +37.5% over five years, and +69.8% over ten years to Q2 2026, and +252% since Q1 1995.
- Is the State College, PA area beating the national average?
- Over the past year the metro's index moved +0.1 pts versus the U.S.; over five years the gap is −3.8 pts.
- What area does this metro index cover?
- FHFA computes metro indexes using the counties in each OMB-defined metropolitan statistical area. The index covers the whole area, so individual neighborhoods and homes can differ from it.