The last ten years really flew by! 🚀 The kids are growing up so fast, aren’t they? And of course, we haven’t aged one bit. What do you mean you can tell we got Botox? Haters will say it’s Photoshop. 😉💅
While we may not have changed in the last decade, homebuying in the Keystone State sure has. 📈 Let’s take a look at price differences in PA and the rest of the nation.
Here’s Five Fast Facts on home prices in PA:
- 🤸 One Giant Leap - A decade ago, Pennsylvania's median home price was about $165,000. Today, it's approaching $283,000. That's a 71% jump in just 10 years.
- 💸 Yearn To Earn - The affordability challenge facing many Pennsylvanians stems from a growing gap between earnings and housing costs. Median household income reached $77,971 in 2024, but home values have risen substantially faster than wages.
- 🏘️ Zooming Out - PA homebuyers have faced plenty of sticker shock, but they haven't seen the same level of price growth as some other parts of the country. The typical U.S. home now costs $366,019.
- 📊 Highs and Lows - The pandemic-era housing boom didn't hit every ZIP code equally. While home prices surged 137% in Idaho and more than doubled in states like New Hampshire, Maine, and Utah, places like Louisiana (+17%) and North Dakota (+25.1%) saw much slower growth.
- 🤓 Home History - The housing market's surge grabbed headlines, but the bigger story may be what happened next. After prices soared nearly 40% in the years immediately following the 2020 recession, growth cooled and settled near the 33.6% average typically seen during post-recession housing recoveries.
🔥Bottom line: Man, we should have bought a house ten years ago instead of twiddling our thumbs. Ya snooze, ya lose! When it comes to affordable housing in PA, finding a solution hasn’t been a cake walk. Check out this article where we break down all the latest.
How much is your home worth today?
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