Real Estate Investing in Bellefonte, Pennsylvania (16823)
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Should you buy in 16823 (Bellefonte, PA)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Bellefonte, PA (16823)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 16823 Bellefonte
Not every below-median market is a bargain. Bellefonte's 16823 ZIP stands at signals that favor experienced operators who can absorb the risk $316K pricing implies.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $316K asset, 16823 is the wrong submarket. If the plan prices in friction, the yield can still work.
In the broader PA picture, 16823 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
A healthy renter share of 27% in 16823 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Strategy in 16823 is an operator game, not a passive one. Turning to rents, entry prices of $316K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Bellefonte:
Property Strategy for 16823
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $170,449 | $1,120 | 4.7% | +2.8% | $170,449 |
| 2BR | $225,996 | $1,290 | 4.1% | +5.2% | $112,998 |
| 3BR | $294,644 | $1,570 | 3.8% | +5.3% | $98,215 |
| 4BR | $401,081 | $1,710 | 3.1% | +5.7% | $100,270 |
| 5BR | $404,316 | — | — | +5.4% | $80,863 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 16823 Compare?
| Metric | 16823 | Bellefonte | State College, PA | Pennsylvania |
|---|---|---|---|---|
| Home Value | $315,541 | $315,541 | N/A | $278,018 |
| 5-Year CAGR | 5.0% | 5.0% | N/A | 6.3% |
| Avg Rent | $1,513 | $1,513 | N/A | - |
| Cap Rate | 3.7% | 3.7% | - | - |
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 16823 (Bellefonte, PA). Anonymous, moderated, never written by AI.
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Property managers serving Centre County
Manage rentals here? List your business →Nittany Property Management. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $315,541 |
| Monthly Rent | $1,513 |
| Price-to-Rent | 17.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.8% |
| Cap Rate | 3.7% |
| 5-Year IRR | 8.8% |
📈 Home Appreciation
| 1-Year | +7.6% ▲ |
| 3-Year CAGR | +5.1% ▲ |
| 5-Year CAGR | +5.0% ▲ |
| 10-Year CAGR | +5.4% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.7%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 16823
Population: 29,168
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 16823
Schools in This ZIP Code
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
Investor Insight: With 9,651 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How much does a house cost in Bellefonte, PA?
Homes in Bellefonte, PA typically sell near $316K. Prices have moved at a 0.0% 5-year CAGR, which measured long-term demand.
Is Bellefonte, PA better for rentals, flips, or BRRRR?
For Bellefonte, PA, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
How strong is the working-renter base in Bellefonte, PA?
The renter base in Bellefonte, PA is reasonable for the $1,513/mo price point. Screening well and pricing to market typically yields stable tenants.
Can I house hack in Bellefonte, PA?
Bellefonte, PA offers a challenging house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $1,513/mo rent level.
Is Bellefonte, PA good for landlords?
For rental operators, Bellefonte, PA rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
You know 16823 now. You don’t know where it ranks.
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How 16823 ranks in State College, PA
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