All homes and bedroom counts
Markets / Pennsylvania / Johnstown
RENTAL MARKET INTELLIGENCE
Johnstown, PA
Johnstown merits investigation by yield-focused buyers willing to underwrite weak demand signals; buyers who require expanding employment or positive migration should avoid it.
Median price$121k
Median rent$863
Gross yield8.6%
Job growth▼ 1.0%
Composite Market ScoreRank #47 of 571 scored US market areas
Direct rental answer
How much is rent in Johnstown, PA?
Zillow's metro-wide Observed Rent Index is $863 per month for 2026-06-30. That is up 8.77% from a year earlier.
Occupied rental units paying rent
Two-bedroom standard
These figures are not averaged together. Zillow and Realtor describe asking-rent markets, ACS measures rent paid by surveyed households, and HUD publishes administrative bedroom standards.
Exact county schedules
HUD rent benchmarks inside Johnstown
Every row keeps its own county FIPS schedule. No county is selected as a metro proxy and no synthetic metro FMR is calculated.
| County | Studio | 1 BR | 2 BR | 3 BR | 4 BR |
|---|---|---|---|---|---|
| Cambria County, PAFIPS 42021 | $840 | $846 | $1,035 | $1,431 | $1,484 |
The read
Why this market scores where it does
Johnstown merits investigation by yield-focused buyers willing to underwrite weak demand signals; buyers who require expanding employment or positive migration should avoid it. The market combines affordable entry and strong rent economics with contraction in jobs and household flows.
At a $120,544 median value and $863 median asking rent, the published gross yield is 8.59%. Asking rent rose 8.77% year over year while home values slipped 0.51%, supporting the current income case without showing that rent growth will persist.
Risk sits mainly in demand and exit pricing. CES employment fell 1.02%, and net migration was -198 households. Limited permitting points to little new construction, while 2.9 months of supply indicates tight resale availability; frequent price cuts and inland-flood exposure make property-level pricing, insurance, and flood review central to due diligence.
Frequently Asked Investor Questions
What are the current purchase and rental economics?
The median home value is $120,544, median asking rent is $863, and published gross yield is 8.59%.
Do labor and household flows support demand?
No clear support is visible: CES employment fell 1.02%, and tax filings show 1,987 households moved in while 2,185 moved out, for net migration of -198.
What supply and physical-risk signals matter?
The record shows 62 permits, a 0.47 permits-per-thousand rate, and 2.9 months of supply; inland flood is the dominant hazard, and the climate loss ratio is 0.0804%.
Investor Quick Takeaways
Gross Yield: 8.6%
Computed from the current Zillow rent and home-value medians.
Rent Momentum: ▲ 8.77%
Zillow ZORI rent growth trend over trailing 12 months.
Investor Activity: 7.8%
Originated investment purchase share (CFPB HMDA).
Climate Exposure: FEMA NRI
Annualized loss ratio evaluated for flood & hurricane risk.
Put the evidence to work
Test the market, then test the deal
Keep Johnstown as the starting point or move into a more specific property and rent check.
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Market pulse
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.
Months of supply2.9 mo.▲ from 1.9 mo. a year ago
Median days on market13 days▼ from 17 days a year ago
Listings with price drops32.0%▲ from 27.6% a year ago
Sale-to-list ratio98.9%2026-05-01
Home value growth▼ 0.5%Zillow ZHVI · trailing 12 months
Rent growth▲ 8.77%Zillow ZORI · trailing 12 months
Gross rental yield8.6%Rent × 12 ÷ price
Payroll job growth▼ 1.0%CES · 12m to 2026-06
Release-to-release evidence
What actually changed
This comparison exists because at least one underlying source period advanced. Rebuilding the same data never creates a new observation.
Published score held steady69→69
0 ptsThe published component scores did not move in this release.
Weights were unchanged at metro-2026-07-v2-omb2023, so the movement comes from refreshed evidence and percentile ranks.
The named source periods advanced, but the measured values on this page held steady.
The one chart
Rents versus prices, indexed to 2019
Both series start at 100. The gap between the lines is the investment case, and which line is closing it tells you what kind of market this is.
Reindexed Price vs. Rent Growth
2019 = 100 · annual · 2019–2026
Since 2019, prices are up 0% and rents 52%. Rents running ahead of prices is what lifts yield. ✓ recomputed from series
Composite breakdown
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.
Published arithmeticComponent × weight = points
69| Signal | Score | Weight | Points |
|---|---|---|---|
| Job growth | 12 | 30% | 3.60 |
| Rent trend | 94 | 25% | 23.50 |
| Affordability | 91 | 15% | 13.65 |
| Supply pressure | 92 | 15% | 13.80 |
| Climate risk | 96 | 15% | 14.40 |
| Published score | 69 | ||
Johnstown, PA scoreRank #47
69Job growth12/100
CES employment fell 1.02% year over year -> labor demand is a clear underwriting weakness.
Rent trend94/100
Median asking rent rose 8.77% and gross yield was 8.59% -> current rental economics are the market’s main opportunity.
Affordability91/100
Rent equals 17.72% of median income and price equals 2.06 times income -> housing is affordable relative to local income.
Supply pressure92/100
Only 62 permits were issued and months of supply were 2.9 -> new construction and resale availability are limited.
Climate risk96/100
The climate loss ratio is 0.0804%, while inland flood is the dominant hazard -> broad modeled losses are limited, but water exposure remains property-specific.
The numbers
What this market costs and what it earns
Every derived ratio below recomputes from the same source record used by the article and score.
ZHVI Median Price
$121k
YoY ▼ 0.5%
ZORI Median Rent
$863
YoY ▲ 8.77%
Gross Rental Yield
8.6%
Rent × 12 ÷ price
$863 × 12 ÷ $120,544
Job Growth (YoY)
▼ 1.0%
CES payrolls
Job signal 12/100
Median Household Income
$58k
Census ACS 5-year
Rent Burden
17.7%
Annual rent ÷ household income
Price-to-Income
2.1x
Median value ÷ household income
HUD 2BR Fair Market Rent
$1,035
Market rent 83.3% of FMR
Historical affordability context
Compare aligned 2019 and 2024 asking-rent and nominal household-income endpoints across the direct-overlap metro set.
Independent rent evidence
One market, several legitimate rent benchmarks
These releases observe different homes and different moments. RentMarker keeps them separate: ZORI remains the scoring baseline, while the other sources test how sensitive the market story is to bedroom mix and measurement method.
Monthly benchmark4 of 4 reported values
Zero-based scale$863Primary RentMarker baseline
2026-06-30
All homes and bedroom counts
A smoothed metro rent index for observed rentals; it is the primary rent used by RentMarker scores and career ratios.
View source release ↗$846−$17 vs ZORI
FY2026 FMR
One-bedroom standard
An administrative gross-rent benchmark used by HUD programs; it is neither a listing median nor a prediction of one lease.
View source release ↗$1,035+$172 vs ZORI
FY2026 FMR
Two-bedroom standard
An administrative gross-rent benchmark used by HUD programs; it is neither a listing median nor a prediction of one lease.
View source release ↗$739−$124 vs ZORI
ACS 2024 5-year
Occupied rental units paying rent
A five-year survey estimate of contract rent plus applicable tenant-paid utilities; it is not a current asking-rent index.
View source release ↗Take the next step
Keep Johnstown as context, then replace market-wide evidence with the candidate property's facts.
Regional price level
What feels expensive inside Johnstown
BEA compares each category with the United States, which equals 100. This is a 2024 price-level comparison—not annual inflation.
BEA Regional Price Parities · 2024US = 100
Occupation wage lens
How asking rent sits against major local occupations
Annualized Zillow asking rent is divided by each BLS annual median wage. This is a screening ratio for one wage, not a household budget or affordability verdict.
Six largest published major groupsannual rent ÷ median wage
Office and Administrative Support Occupations$40,950 median wage
25.3%
Transportation and Material Moving Occupations$38,220 median wage
27.1%
Food Preparation and Serving Related Occupations$26,850 median wage
38.6%
Healthcare Practitioners and Technical Occupations$74,780 median wage
13.8%
Sales and Related Occupations$30,150 median wage
34.3%
Educational Instruction and Library Occupations$58,630 median wage
17.7%
Supply pipeline
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.
National supply context
Compare this authorization pipeline with asking-rent growth, jobs and for-sale liquidity across the evidence-complete metro set.
Building permits by structure type
units per year · latest year annualised
62 units authorised in 2026, 0% of them in 5+ unit buildings. This is a single-family building cycle, so the competition is other houses, not new apartments. ✓ recomputed from series
Who is arriving, and who is buying
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.
Net Household Move
−198
1,987 in vs 2,185 out (IRS SOI)
▼ 10.0% of arriving households
Mover Income Gap
−$2,838
Arriving $48,978 vs leaving $51,816
Average AGI per tax return (IRS SOI)
Investor Purchase Share
7.8%
77 of 994 originated purchase loans
CFPB HMDA 2024
Dominant Hazard
inland flooding
0.080% building value annual loss ratio
FEMA NRI · risk type: water
Compare yield and FEMA exposure →Households arrive mainly from: Somerset County · Blair County · Allegheny County · Indiana County · Philadelphia County
✓ 1,987 in − 2,185 out = -198 netDirect market links
Where tax-return households moved from and to
These are the largest flows where both counties map to a RentMarker market area. They are a documented subset of the all-US IRS totals above.
Leading inbound markets
- Altoona, PA187 arriving
- Pittsburgh, PA182 arriving
- Indiana, PA110 arriving
Leading outbound markets
- Pittsburgh, PA315 leaving
- Altoona, PA228 leaving
- Indiana, PA138 leaving
The other side
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 contracted, leaving the rental case without support from job growth.
- Tax-filing migration was negative, and incoming movers had lower average income than outgoing movers.
- Home values declined and 32.04% of listings had price drops, indicating resale-pricing risk.
Inside this metro area
Move from the market-area average to local evidence
Use the available county and city pages to add local price, rent, housing, migration and hazard context to the market-area view.
County records
Cities in this market
Statistical peers
Market areas that behave like Johnstown
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.
| Market area | Score | Price | Rent | Yield | Job Growth |
|---|---|---|---|---|---|
| Johnstown, PA (Target) | 69 | $121k | $863 | 8.6% | ▼ 1.0% |
| Lawton, OK | 47 | $155k | $1,110 | 8.6% | ▼ 1.5% |
| Goldsboro, NC | 30 | $190k | $1,437 | 9.1% | ▼ 1.2% |
| Talladega, AL | 37 | $183k | $1,295 | 8.5% | ▼ 0.6% |
| Beckley, WV | 34 | $153k | $1,020 | 8.0% | ▼ 0.7% |
Provenance
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 and gross rent | direct | ACS 2024 5-year | 2026-08-05 |
| Census ACS 5-year — historical household income | direct | ACS 2019 and 2024 5-year | 2026-08-05 |
| Census ACS 5-year — population | direct | ACS 2024 5-year | 2026-07-26 |
| Apartment List Rent Estimates — recent-lease rent index | direct | Apartment List 2026-07 | 2026-08-08 |
| Apartment List Time on Market — listing liquidity | direct | Apartment List 2026-07 | 2026-08-08 |
| Apartment List Vacancy Index — rental vacancy | direct | Apartment List 2026-07 | 2026-08-08 |
| BEA County Personal Income — income and population | direct | 2024 County Personal Income (released 2026-02-05); history 1969-2024 | 2026-08-03 |
| BEA Regional Price Parities — metropolitan price levels | direct | 2024 Regional Price Parities (released 2026-02-19); history 2008-2024 | 2026-08-03 |
| BLS CES — payroll employment | direct | CES SM current | 2026-07-26 |
| BLS LAUS — resident employment | direct | LAUS current | 2026-07-26 |
| BLS OEWS — occupation employment and wages | direct | May 2025 OEWS estimates (released 2026-05-15) | 2026-08-03 |
| BLS QCEW — county employment and wages | direct | annual county employment and wages 2021-2025; latest 2025 vs 2024 | 2026-08-02 |
| 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 |
| Census ACS five-year — ZCTA housing and income | direct | ACS 2024 5-year ZCTA | 2026-08-08 |
| 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 history 1975-2025; latest 2025 | 2026-08-02 |
| HMDA / CFPB — purchases by occupancy type | direct | HMDA 2024 purchase originations | 2026-07-26 |
| HUD CHAS — renter burden by HAMFI income band | direct | HUD CHAS 2018-2022 ACS 5-year (released 2025-12-23) | 2026-08-03 |
| 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 |
| HUD-USPS ZIP-to-county residential-address crosswalk | direct | HUD-USPS 2026Q1 | 2026-08-09 |
| IRS SOI — county migration and mover income | direct | SOI migration 2022-2023 | 2026-07-26 |
| Freddie Mac PMMS — mortgage rates | direct | week of 2026-07-30 | 2026-08-06 |
| Census ACS 5-year — effective property tax | direct | ACS 2024 5-year | 2026-08-06 |
| Realtor.com Economic Research — county listing inventory | direct | county inventory 2026-06 | 2026-07-28 |
| Realtor.com Rental Report — top-50 asking rents | direct | top-50 rental asking rents 2026-05 | 2026-08-05 |
| Redfin Data Center — inventory, days on market, and price cuts | direct | metro tracker through 2026-05-01 | 2026-07-26 |
| Redfin Data Center — ZIP resale activity and supply | direct | ZIP rolling 3 months through 2026-06-30; updated 2026-07-03 | 2026-08-12 |
| USDA ERS — Rural-Urban Continuum Codes | direct | USDA ERS 2023 Rural-Urban Continuum Codes | 2026-08-02 |
| 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 - metro market rents, not seasonally adjusted | direct | Metro_zori_uc_sfrcondomfr_sm_month.csv | 2026-08-15 |
| Zillow ZORI — ZIP market rents | direct | ZORI ZIP 2026-06 | 2026-08-08 |