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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Bellefonte, PA Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Bellefonte, PA Housing Market Trends

With 5,985 people, 2,884 houses or apartments, and a median cost of homes of $340,798, Bellefonte real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Bellefonte, accounting for 49.10% of the borough's housing units. Other types of housing that are prevalent in Bellefonte include duplexes, homes converted to apartments or other small apartment buildings ( 24.55%), large apartment complexes or high rise apartments ( 20.25%), and a few row houses and other attached homes ( 5.13%).

People in Bellefonte primarily live in small (one, two or no bedroom) single-family detached homes. Bellefonte has a mixture of owner-occupied and renter-occupied housing.

The housing in Bellefonte was primarily built before 1939 ( 44.70%), making the housing stock in Bellefonte some of the oldest overall in America, although there is a range of ages of homes in Bellefonte. The next most important housing age is between 1940-1969 ( 24.98%), followed by between 1970-1999 ( 21.12%). There's also some housing in Bellefonte built between 2000 and later ( 9.19%).

Bellefonte Home Appreciation Rates

Bellefonte's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Bellefonte during the period has been just 4.89%, which is lower than 70% of US communities.

Appreciation rates are so strong in Bellefonte that despite a nationwide downturn in the housing market, Bellefonte real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Bellefonte appreciation rates continue to be some of the highest in America, at 6.77%, which is higher than appreciation rates in 72.91% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Bellefonte. Bellefonte appreciation rates in the latest quarter were at -3.67%, which equates to an annual appreciation rate of -13.89%.

Notably, Bellefonte's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Pennsylvania, our data show that Bellefonte's latest annual appreciation rate is higher than 70% of the other cities and towns in Pennsylvania.

One very important thing to keep in mind is that these are average appreciation rates for the borough. Individual neighborhoods within Bellefonte differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Bellefonte - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Bellefonte real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$340,798

Bellefonte, PA Home Prices
> $1,286,000
$965,001 - $1,286,000
$643,001 - $965,000
$515,001 - $643,000
$386,001 - $515,000
$257,001 - $386,000
$129,001 - $257,000
$64,001 - $129,000
$0 - $64,000
2.2%
2.2%
0.0%
0.0%
1.6%
1.6%
3.6%
3.6%
20.9%
20.9%
41.0%
41.0%
24.5%
24.5%
3.0%
3.0%
3.2%
3.2%
0% 100.0%
% of Homes
High

for Pennsylvania

High

for nation

Number of Homes And Apartments:

2,884

Bellefonte Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,331 / per month

Homeownership Rate

Owners
Renters
49.1%
49.1%
50.9%
50.9%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
3.9%
3.9%
96.1%
96.1%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
9.2%
9.2%
21.1%
21.1%
25.0%
25.0%
44.7%
44.7%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
49.1%
49.1%
5.1%
5.1%
24.6%
24.6%
20.3%
20.3%
1.0%
1.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
3.4%
3.4%
20.9%
20.9%
25.8%
25.8%
28.0%
28.0%
19.7%
19.7%
2.2%
2.2%
0% 100.0%
% of Homes