Altoona, PA
Altoona merits investigation for yield-focused buyers comfortable with weak demand signals; growth-dependent investors should avoid it.
Why this market scores where it does
Written from the figures on this page and then checked against them: every number below had to appear in the source record or recompute from two that did, or the text was rewritten.
Altoona merits investigation for yield-focused buyers comfortable with weak demand signals; growth-dependent investors should avoid it. Median asking rent is $1,117 against a $180,366 home value, with a published 7.43% gross yield, while rent rose 7.71% year over year.
Opportunity rests on an affordable entry point and limited recorded permitting: price-to-income is 2.89, and total permits were 88. Yet the market is not uniformly tight. Listings had 2.1 months of supply, but 40.41% recorded price drops, giving buyers negotiation evidence without proving durable appreciation.
Risk sits on demand and property selection. CES employment slipped 0.05% year over year, and tax filings show net migration of -59 households. Inland flood is the dominant hazard, so underwriting should be property-specific; the record publishes a climate loss ratio but no parcel-level exposure or insurance cost.
Frequently Asked Investor Questions
How does asking rent compare with the published fair-market rent?
What do tax filings say about migration and mover income?
How active is the resale market?
Investor Quick Takeaways
Computed from the current Zillow rent and home-value medians.
Zillow ZORI rent growth trend over trailing 12 months.
Originated investment purchase share (CFPB HMDA).
Annualized loss ratio evaluated for flood & hurricane risk.
Test the market, then test the deal
Keep Altoona as the starting point or move into a more specific property and rent check.
The current market in eight signals
Fast-moving Redfin conditions sit beside the slower fundamentals so a buyer can separate today's negotiating climate from the long-run investment case.
What each component measures
Weights are published, not hidden, and the arithmetic is shown. Five components, each measured as a national percentile across all tracked metros.
| Signal | Score | Weight | Points |
|---|---|---|---|
| Job growth | 42 | 30% | 12.60 |
| Rent trend | 90 | 25% | 22.50 |
| Affordability | 73 | 15% | 10.95 |
| Supply pressure | 97 | 15% | 14.55 |
| Climate risk | 81 | 15% | 12.15 |
| Published score | 73 | ||
CES employment fell 0.05% year over year -> the labor signal is weak for rent-demand underwriting.
Median asking rent rose 7.71% year over year and gross yield is 7.43% -> current income metrics are the clearest opportunity.
Rent-to-income is 21.49% and price-to-income is 2.89 -> the record supports an affordability case for tenants and buyers.
Total permits were 88 and the permits rate was 0.73 -> the record shows limited new-supply competition.
The annual climate loss ratio is 0.001042 and inland flood is the dominant hazard -> property-level water-risk review matters.
What this market costs and what it earns
Every derived ratio below recomputes from the same source record used by the article and score.
What is being built, and for whom
Permits are the 12-to-24 month early warning. The total matters less than the mix: apartments compete with a rental the day they open.
Demand, and the competition for it
Tax filings say how many households moved and what they earn; mortgage disclosures say how many local purchases went to someone who will not live there. Moves between counties inside this metro are netted out of both flow figures.
What would make this a bad buy
Generated from the same figures with the instruction to argue against the score, and published unedited. A page that only agrees with itself is an advertisement.
Three ways the case breaks
- CES employment fell 0.05% year over year, leaving the labor-demand signal slightly negative.
- Tax filings show 1,820 households moved out versus 1,761 moved in, for net migration of -59.
- Price drops affected 40.41% of listings despite 2.1 months of supply, so resale pricing is not uniformly firm.
Move from the metro average to local evidence
County pages carry tax, migration, listing and hazard records. City pages appear only where direct city price, rent and Census evidence pass the publication gate.
No city in this metro has passed the current city evidence gate.
Metros that behave like Altoona
Nearest neighbours on price level, income, yield and job growth — not on geography. Every market page gets a different peer set, which is the point.
| Metro | Score | Price | Rent | Yield | Job Growth |
|---|---|---|---|---|---|
| Altoona, PA (Target) | 73 | $180k | $1,117 | 7.4% | ▼ 0.1% |
| Lima, OH | 66 | $196k | $1,177 | 7.2% | ▲ 0.1% |
| Bay City, MI | 63 | $189k | $1,178 | 7.5% | ▲ 0.3% |
| Rocky Mount, NC | 26 | $203k | $1,262 | 7.4% | ▼ 0.5% |
| Hattiesburg, MS | 49 | $221k | $1,388 | 7.5% | ▼ 0.4% |
Where every figure came from
“Checked nightly” means every source is re-pulled and re-verified each night. It does not mean every source moves nightly — the release column tells you how fresh each number can possibly be.
| Dataset Source | Method | Release Period | Pulled Date |
|---|---|---|---|
| Census ACS 5-year — household income | direct | ACS 2024 5-year | 2026-07-26 |
| Census ACS 5-year — population | direct | ACS 2024 5-year | 2026-07-26 |
| BLS CES — payroll employment | direct | CES SM current | 2026-07-26 |
| BLS LAUS — resident employment | direct | LAUS current | 2026-07-26 |
| BLS QCEW — county employment and wages | direct | annual county employment and wages 2025 vs 2024 | 2026-07-31 |
| OMB/BLS delineation — metro geography | direct | OMB July 2023 delineation | 2026-07-30 |
| Census Building Permits Survey — permitted units | direct | BPS through 2026 | 2026-07-26 |
| Census ACS 5-year — city population, households and housing | direct | ACS 2024 5-year | 2026-07-29 |
| Census ACS 5-year — county housing value, tenure and stock | direct | ACS 2024 5-year | 2026-07-30 |
| Census ACS 5-year — cities and communities | direct | ACS 2024 5-year | 2026-07-30 |
| FEMA National Risk Index — hazard loss ratios | modelled | NRI counties (FEMA ArcGIS) | 2026-07-26 |
| FHFA House Price Index — annual county appreciation | direct | annual county HPI 2025 | 2026-07-28 |
| HMDA / CFPB — purchases by occupancy type | direct | HMDA 2024 purchase originations | 2026-07-26 |
| HUD Fair Market Rents — Section 8 standard | direct | FY2026 FMR | 2026-07-26 |
| HUD USPS crosswalk and Small Area FMRs — ZIP rent fallback | direct | ZIP-CBSA 2025Q4 + SAFMR FY2026 | 2026-07-26 |
| IRS SOI — county migration and mover income | direct | SOI migration 2022-2023 | 2026-07-26 |
| Freddie Mac PMMS — mortgage rates | direct | week of 2026-07-23 | 2026-07-27 |
| Census ACS 5-year — effective property tax | direct | ACS 2024 5-year | 2026-07-27 |
| Realtor.com Economic Research — county listing inventory | direct | county inventory 2026-06 | 2026-07-28 |
| Redfin Data Center — inventory, days on market, and price cuts | direct | metro tracker through 2026-05-01 | 2026-07-26 |
| Zillow ZHVI and ZORI — county values and rents | direct | county ZHVI/ZORI 2026-06 | 2026-07-26 |
| Zillow ZHVI — metro home values | direct | Metro_zhvi_uc_sfrcondo_tier_0.33_0.67_sm_sa_month.csv | 2026-07-26 |
| Zillow ZHVI — city home values | direct | zillow_zhvi_city.csv | 2026-07-29 |
| Zillow ZORI — metro market rents | direct | Metro_zori_uc_sfrcondomfr_sm_sa_month.csv | 2026-07-26 |
| Zillow ZORI — city market rents | direct | zillow_zori_city.csv | 2026-07-29 |
| Zillow ZORI — ZIP market rents | direct | ZORI ZIP 2026-06 | 2026-07-26 |