Pennsylvania ranks as the 12th most affordable state for homebuyers in the United States and leads the Northeast region in housing affordability, according to a new report from TradingPedia.
The study, which analyzed median home prices throughout 2024 alongside personal income data, found Pennsylvania's home price-to-income ratio stands at 4.08. The average personal income per capita in Pennsylvania is $71,475, representing approximately 24.5% of the average home sale price of $291,417.
Pennsylvania outperformed all other Northeastern states in affordability, including Connecticut …
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Pennsylvania ranks as the 12th most affordable state for homebuyers in the United States and leads the Northeast region in housing affordability, according to a new report from TradingPedia.
The study, which analyzed median home prices throughout 2024 alongside personal income data, found Pennsylvania's home price-to-income ratio stands at 4.08. The average personal income per capita in Pennsylvania is $71,475, representing approximately 24.5% of the average home sale price of $291,417.
Pennsylvania outperformed all other Northeastern states in affordability, including Connecticut (ratio of 4.53), Vermont (5.74), and New Hampshire (5.82).
While Pennsylvania ranked ninth nationally for total home sales with 125,013 properties changing hands in 2024, it placed 38th in per capita sales with approximately 9.56 transactions per 1,000 residents.
The TradingPedia report combined median home sale prices from Redfin with personal income per capita data from the U.S. Bureau of Economic Analysis to determine affordability metrics across all 50 states and the District of Columbia.
