Mortgage Calculator & Closing Costs: State College, PA
Mortgage payment estimates, closing cost breakdowns, and homebuying data for State College, Pennsylvania.
Median Home Price
$325K
Population
42K
Avg Monthly Rent
$1,350
Property Tax Rate
1.36% *
* Property tax shown is the Pennsylvania state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in State College.
State College vs Pennsylvania Median
The median home price in State College is $325,000, which is 16% above the Pennsylvania state median of $280,000.
Mortgage Calculator — State College, PA
Pre-filled with State College median home price and Pennsylvania tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $325K home using Pennsylvania's 1.36% tax rate and $1,400/yr insurance.
5% Down
$2,617/mo
Down: $16,250
Loan: $309K
P&I: $1,952
Tax: $368
Insurance: $117
PMI: $180
10% Down
$2,504/mo
Down: $32,500
Loan: $293K
P&I: $1,849
Tax: $368
Insurance: $117
PMI: $171
20% Down (No PMI)
$2,128/mo
Down: $65,000
Loan: $260K
P&I: $1,643
Tax: $368
Insurance: $117
Income needed (28% rule): $91K/year with 20% down, $107K/year with 10% down.
Rent vs Buy in State College
Rent
$1,350/mo
vs
Buy (10% down)
$2,504/mo
Price-to-rent ratio: 20.1 — At a ratio above 20, renting may be more economical in State College for shorter stays. Buying costs $1,154 more per month than renting, and it typically takes 5-7 years to break even on the transaction costs of buying.
The median home price in State College is $325,000, 16% above the Pennsylvania state median of $280,000. With a population of 42,034, State College is a smaller market where home prices reflect strong demand and local economic factors.
Property taxes in Pennsylvania average 1.36% annually. This moderate property tax rate means a $325,000 home in State College would carry roughly $368/month in property taxes. Homeowners insurance in Pennsylvania runs approximately $1,400 per year. This is within the normal range nationally.
Average rent in State College is $1,350/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.
State College presents moderate affordability. The $325K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in State College.