Real Estate Investing in Altoona, Pennsylvania (16602)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 16602 (Altoona, PA)? Our answer, based on the numbers below.
Solid choice — stable market with a reasonable entry point and good rental backup if you ever need to move.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- Elevated vacancy: 11.3% vacancy may signal weakening demand.
What’s happening in Altoona, PA (16602)?
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Market Analysis: 16602 Altoona
Investors eyeing 16602 need to respect the fundamentals at play. Home values of $139K come alongside slower price movement and elevated management overhead.
For an experienced owner, 16602 can be a a strong candidate for hunting ground — but the discount at $139K reflects genuine risk that outside investors often underestimate.
Statewide comparisons place 16602 among PA's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Employment concentration in 16602 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
The 16602 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Altoona:
Property Strategy for 16602
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $121,329 | $1,120 | 6.6% | +5.4% | $60,665 |
| 3BR | $146,782 | $1,440 | 7.1% | +6.4% | $48,927 |
| 4BR | $185,270 | $1,680 | 6.5% | +5.8% | $46,317 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 16602 Compare?
| Metric | 16602 | Altoona | Altoona, PA | Pennsylvania |
|---|---|---|---|---|
| Home Value | $139,334 | $95,907 | N/A | $278,018 |
| 5-Year CAGR | 3.4% | 3.3% | N/A | 6.3% |
| Avg Rent | $1,278 | $1,121 | N/A | - |
| Cap Rate | 7.2% | 6.1% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 16602 (Altoona, PA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $139,334 |
| Monthly Rent | $1,278 |
| Price-to-Rent | 9.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 11.0% |
| Cap Rate | 7.2% |
| 5-Year IRR | 10.5% |
📈 Home Appreciation
| 1-Year | +7.2% ▲ |
| 3-Year CAGR | +5.4% ▲ |
| 5-Year CAGR | +3.4% ▲ |
| 10-Year CAGR | +4.2% ▲ |
🏠 Rent Trends
| 1-Year | +30.2% ▲ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) is close to the estimated cap rate (7.2%). Financing this market at current rates produces a cash-on-cash return near the cap rate. Appreciation and tax benefits may still support the investment.
⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 16602
Population: 27,014
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 16602
Schools in This ZIP Code
Nearby Schools (4 more)
Schools in adjacent ZIP codes that may serve this area
Juniata El Sch
Juniata Gap El Sch
Mowrie A Ebner El Sch
Irving El Sch
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
Is real estate in Altoona, PA a good investment right now?
Altoona, PA reflects an investability rating of 3.0/5, with median home values near $139K and average rents around $1,278/mo. That combination puts it in the durable tier for investor interest.
How deep is the rental pool in Altoona, PA?
Tenant quality in Altoona, PA ranks as solid. Landlords generally report steady occupancy at market rents of $1,278/mo.
What do rentals go for in Altoona, PA?
Expect rents around $1,278/mo per month in Altoona, PA. With home values at $139K, the yield math works out to reasonable levels for rental investors.
What is the typical home price in Altoona, PA?
Altoona, PA median home values land near $139K. That is reasonable territory for investors looking at $1,278/mo-per-month rentals.
Do landlords face vacancy issues in Altoona, PA?
Altoona, PA sees elevated vacancy, which is reasonable relative to the broader PA rental market.
You know 16602 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 16602 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 16602 ranks in Altoona, PA
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