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YOUR PENN STATE LOAN OFFICER

Matt DeanNEXA Lending · NMLS #227603(512) 415-6142

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MARKET POTENTIAL

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Matt DeanNEXA Lending · NMLS #277603(512) 615-6142

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Penn State University · State College, PA

Compare homes for sale, rentals, financing, neighborhoods, and the cost of renting versus buying near Penn State.

Compare Renting vs. Buying

Campus-Area PropertiesRent-vs-Buy ComparisonLocal Campus-Area Professionals

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Penn State University Property Explorer

Homes for Sale Near Penn State University

Review active homes for sale within 3 miles of Penn State University's campus. Select a listing to view details, or inquire about a specific property.

8 homes for sale

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For Sale

0.3 miles from campus

Single-Family · Downtown State College

4 bd 2.5 ba 1,950 sqft$475,000

4-bedroom, 2.5-bath home steps from Beaver Avenue shops and dining — strong rental history with Penn State parents and student tenants, walking distance to campus and Beaver Stadium.

For Sale

1 / 5

0.3 miles from campus

Single-Family · Downtown State College

4 bd 2.5 ba 1,950 sqft$475,000

4-bedroom, 2.5-bath home steps from Beaver Avenue shops and dining — strong rental history with Penn State parents and student tenants, walking distance to campus and Beaver Stadium.

For Sale

0.4 miles from campus

Townhome · College Heights

3 bd 3 ba 2,100 sqft$520,000

3-bedroom, 3-bath townhome in College Heights with a finished basement, two-car garage, and private deck — premier location for Penn State families and faculty, minutes from campus and downtown.

For Sale

1 / 5

0.4 miles from campus

Townhome · College Heights

3 bd 3 ba 2,100 sqft$520,000

3-bedroom, 3-bath townhome in College Heights with a finished basement, two-car garage, and private deck — premier location for Penn State families and faculty, minutes from campus and downtown.

For Sale

0.5 miles from campus

Single-Family · Downtown State College

5 bd 3 ba 2,350 sqft$545,000

5-bedroom, 3-bath two-story home with 2,350 sq ft in the heart of downtown State College — strong per-bedroom rental demand, walkable to campus, downtown dining, and Beaver Stadium, established student-rental track record.

For Sale

1 / 5

0.5 miles from campus

Single-Family · Downtown State College

5 bd 3 ba 2,350 sqft$545,000

For Sale

0.6 miles from campus

Single-Family · Holmes-Foster

3 bd 2 ba 1,610 sqft$395,000

3-bedroom, 2-bath classic Holmes-Foster home with hardwood floors and updated mechanicals — set on a quiet tree-lined street near Westerly Parkway, strong parent-buyer or investor opportunity in Happy Valley.

For Sale

1 / 5

0.6 miles from campus

Single-Family · Holmes-Foster

3 bd 2 ba 1,610 sqft$395,000

For Sale

0.7 miles from campus

Condo · Highlands

2 bd 1.5 ba 1,180 sqft$310,000

2-bedroom, 1.5-bath condo in the Highlands neighborhood — updated kitchen with granite counters, ideal for parent buyer seeking a low-maintenance ownership option near Penn State University.

For Sale

1 / 5

0.7 miles from campus

Condo · Highlands

2 bd 1.5 ba 1,180 sqft$310,000

2-bedroom, 1.5-bath condo in the Highlands neighborhood — updated kitchen with granite counters, ideal for parent buyer seeking a low-maintenance ownership option near Penn State University.

For Sale

0.9 miles from campus

Single-Family · South State College

3 bd 2 ba 1,520 sqft$385,000

3-bedroom, 2-bath ranch home south of campus with spacious backyard — ideal parent purchase near Penn State, currently leased through spring 2027 providing immediate income.

For Sale

1 / 5

0.9 miles from campus

Single-Family · South State College

3 bd 2 ba 1,520 sqft$385,000

3-bedroom, 2-bath ranch home south of campus with spacious backyard — ideal parent purchase near Penn State, currently leased through spring 2027 providing immediate income.

For Sale

1.0 mile from campus

Condo · South State College

2 bd 2 ba 1,050 sqft$285,000

2-bedroom, 2-bath ground-floor condo in a well-managed community off South Atherton — open floor plan, walk-in closets, and dedicated parking, perfect for a parent purchase or first-time college-town investor.

For Sale

1 / 5

1.0 mile from campus

Condo · South State College

2 bd 2 ba 1,050 sqft$285,000

For Sale

1.1 miles from campus

Single-Family · Ferguson Township

4 bd 2.5 ba 2,050 sqft$425,000

4-bedroom, 2.5-bath colonial on a quiet cul-de-sac in Ferguson Township — large fenced yard, updated HVAC, and attached two-car garage, excellent parent-owned housing opportunity with strong State College Area School District.

For Sale

1 / 5

1.1 miles from campus

Single-Family · Ferguson Township

4 bd 2.5 ba 2,050 sqft$425,000

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For Sale

For Sale · Single-Family

0.3 miles from campus

State College, PA 16801 · Downtown State College

$475,000 4 bd 2.5 ba 1,950 sqft

4-bedroom, 2.5-bath home steps from Beaver Avenue shops and dining — strong rental history with Penn State parents and student tenants, walking distance to campus and Beaver Stadium.

Viewing 1 of 8

Rent vs. Own + Cash-Flow Snapshot

Compare estimated nearby rent with the cost of owning this property. Roommate contributions may offset part of the payment, but all figures require review.

Rent Nearby

$3,800/mo

4 beds × $950/mo

Own This Property

$3,093/mo

Estimated payment @ 7.25%

Monthly Gap

+$707/mo

DSCR: 1.23x

Simple read: Estimated comparable rent is $3,800/mo. The estimated monthly ownership cost is $3,093/mo, creating an estimated difference of $707/mo before appreciation, tax treatment, principal reduction, maintenance changes, vacancies, or rent changes.

Roommate Rent Offset

If the student occupies one bedroom, up to 3 additional bedrooms may potentially be used by roommates. At an estimated $950 per occupied roommate bedroom, the projected monthly offset would be approximately $2,850.

Roommate income is not guaranteed. Lease gaps, turnover, non-payment, occupancy rules, and changing rental conditions may affect actual contributions.

Monthly Ownership Estimate

Estimated monthly costs with local-service review points for each line. Confirm actual financing, taxes, insurance, association charges, utilities, and management costs with qualified professionals.

Purchase Scenario

$475,000

est. price · 25% down ($118,750)

Principal & Interest

30-yr @ 7.25% · loan $356,250

$2,430/mo

Property Tax

~1.2% effective rate on $475,000

$479/mo

Homeowners / Hazard / Flood InsuranceConfirm during review

$2,200/yr estimate · varies by location, coverage, carrier

$183/mo

HOA / Condo DuesConfirm during review

Confirm during review

$0/mo

Property ManagementEducational estimate

~8% of gross rent · leasing, maintenance, rent collection

$304/mo

Internet / Utilities SetupConfirm during review

Student-friendly plan estimate · varies by provider

$80/mo

Move-In / Setup ReserveEducational estimate

Monthly reserve for furniture, storage, move-in costs

$200/mo

Estimated Total Monthly Ownership Cost

$3,677/mo

vs. $3,800/mo estimated rent

Compare Financing Options

Rent Nearby

$3,800/mo

Est. PITIA

$3,093/mo

Est. Diff

+$707/mo

Interest-Only

Request estimate

COMPARE FINANCING OPTIONS

Comparable Nearby Options

Compare other active Penn State University-area properties from the current result set.

1.1 miles from campus

Single-Family · 4 bd / 2.5 ba · $425,000

Same property type

0.5 miles from campus

Single-Family · 5 bd / 3 ba · $545,000

Same property type

0.6 miles from campus

Single-Family · 3 bd / 2 ba · $395,000

Same property type

Near campusParent rent-vs-buyRoommate-oriented layoutFinancing review

Additional Local Services

Property ManagementConfirm during review

Homeowners / Hazard / Flood InsuranceConfirm during review

Moving / StorageConfirm during review

Internet ProviderConfirm during review

Educational estimates only. These figures are not a loan quote, investment advice, tax advice, an appraisal, or a guarantee of rent, approval, occupancy, appreciation, or cash flow. Property-specific figures should be reviewed with qualified real estate, lending, insurance, tax, and property-management professionals.

8 representative buy scenarios

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For Sale

0.3 miles from campus

Single-Family · Downtown State College

4 bd 2.5 ba 1,950 sqft$475,000

4-bedroom, 2.5-bath home steps from Beaver Avenue shops and dining — strong rental history with Penn State parents and student tenants, walking distance to campus and Beaver Stadium.

For Sale

1 / 5

0.3 miles from campus

Single-Family · Downtown State College

4 bd 2.5 ba 1,950 sqft$475,000

4-bedroom, 2.5-bath home steps from Beaver Avenue shops and dining — strong rental history with Penn State parents and student tenants, walking distance to campus and Beaver Stadium.

For Sale

0.4 miles from campus

Townhome · College Heights

3 bd 3 ba 2,100 sqft$520,000

3-bedroom, 3-bath townhome in College Heights with a finished basement, two-car garage, and private deck — premier location for Penn State families and faculty, minutes from campus and downtown.

For Sale

1 / 5

0.4 miles from campus

Townhome · College Heights

3 bd 3 ba 2,100 sqft$520,000

3-bedroom, 3-bath townhome in College Heights with a finished basement, two-car garage, and private deck — premier location for Penn State families and faculty, minutes from campus and downtown.

For Sale

0.5 miles from campus

Single-Family · Downtown State College

5 bd 3 ba 2,350 sqft$545,000

For Sale

1 / 5

0.5 miles from campus

Single-Family · Downtown State College

5 bd 3 ba 2,350 sqft$545,000

For Sale

0.6 miles from campus

Single-Family · Holmes-Foster

3 bd 2 ba 1,610 sqft$395,000

For Sale

1 / 5

0.6 miles from campus

Single-Family · Holmes-Foster

3 bd 2 ba 1,610 sqft$395,000

For Sale

0.7 miles from campus

Condo · Highlands

2 bd 1.5 ba 1,180 sqft$310,000

2-bedroom, 1.5-bath condo in the Highlands neighborhood — updated kitchen with granite counters, ideal for parent buyer seeking a low-maintenance ownership option near Penn State University.

For Sale

1 / 5

0.7 miles from campus

Condo · Highlands

2 bd 1.5 ba 1,180 sqft$310,000

2-bedroom, 1.5-bath condo in the Highlands neighborhood — updated kitchen with granite counters, ideal for parent buyer seeking a low-maintenance ownership option near Penn State University.

For Sale

0.9 miles from campus

Single-Family · South State College

3 bd 2 ba 1,520 sqft$385,000

3-bedroom, 2-bath ranch home south of campus with spacious backyard — ideal parent purchase near Penn State, currently leased through spring 2027 providing immediate income.

For Sale

1 / 5

0.9 miles from campus

Single-Family · South State College

3 bd 2 ba 1,520 sqft$385,000

3-bedroom, 2-bath ranch home south of campus with spacious backyard — ideal parent purchase near Penn State, currently leased through spring 2027 providing immediate income.

For Sale

1.0 mile from campus

Condo · South State College

2 bd 2 ba 1,050 sqft$285,000

For Sale

1 / 5

1.0 mile from campus

Condo · South State College

2 bd 2 ba 1,050 sqft$285,000

For Sale

1.1 miles from campus

Single-Family · Ferguson Township

4 bd 2.5 ba 2,050 sqft$425,000

For Sale

1 / 5

1.1 miles from campus

Single-Family · Ferguson Township

4 bd 2.5 ba 2,050 sqft$425,000

Showing all 8 properties

Property information, pricing, photographs, and availability may change. Verify current details before making a housing decision. CollegeHousing.ai is an independent housing information platform and is not a brokerage, MLS, property-listing provider, or affiliate of Penn State University.

Market Snapshot

Penn State University / State College housing data

Public data sources for evaluating college-area housing decisions. Not investment advice. Not a guarantee of rental income, appreciation, or loan approval.

Last updated: 2026-06-30

University Demand

48,428

Total Enrollment

40,861

Undergraduate

7,567

Graduate

9,200

First-Year Class

93%

Retention Rate

73%

4-Year Graduation Rate

SourceOfficial University Facts — Penn State University · Fall 2024

On-Campus vs Off-Campus Housing

Yes

First-Year Live-On Required

Yes

On-Campus Housing Guaranteed

95%

First-Year in Univ. Housing

First-Year Off Campus / Commute

35%

All Undergrads in Univ. Housing

65%

All Undergrads Off Campus / Commute

Penn State requires first-year students to live on campus and guarantees on-campus housing. Approximately 65% of all undergraduates live off campus, creating one of the largest private housing markets in the country — spanning the State College borough, Patton Township, Ferguson Township, and surrounding Centre County.

SourceOfficial Common Data Set — Penn State University, Section F · 2024–2025 Common Data Set

Local Housing Baseline — State College

$380,400

Median Owner-Occupied Home Value

$1,120/mo

Median Gross Rent

36.3%

Owner-Occupied Housing Rate

$2,184

Median Monthly Owner Cost (w/ Mortgage)

41,341

City Population

13,298

Households

SourceU.S. Census Bureau QuickFacts — State College, PA · 2020–2024 ACS 5-Year Estimates

When students typically move off campus

Yes

First-Year Live-On Required

Yes

On-Campus Housing Guaranteed

95%

First-Year Students in Univ. Housing

First-Year Students Off Campus / Commute

35%

All Undergrads in Univ. Housing

65%

All Undergrads Off Campus / Commute

What this means for housing decisions

Penn State requires and guarantees first-year on-campus housing. About 65% of all undergraduates live off campus — but with over 40,000 undergraduates, that represents one of the largest off-campus student populations in the country. The State College borough's housing supply is structurally constrained, making proximity-to-campus a key pricing variable.

SourceOfficial Common Data Set — Penn State University, Section F · 2024–2025 Common Data Set

Parent Rent-vs-Buy Trigger

•4+ years of housing needed
•Freshman housing required on campus
•Most undergrads live off campus by sophomore year
•Rent alternative: median rent $1,120/mo
•Roommate income potential from other students
•Ownership horizon: typically 3–5 years
•Resale after graduation — parent/investor buyer pool
•Property management if parent is out of town
•Financing: second home vs investment property classification

Investor Cash-Flow Trigger

•Strong off-campus demand — 65% of undergrads off campus
•Rent-by-room potential near campus
•School-year lease timing (Aug–Jul typical)
•Turnover risk between academic years
•Maintenance and management load
•DSCR review: rent vs debt service
•Local owner-occupancy rate: 36.3% — context for rental demand
•Exit strategy: sell to parent buyer, investor, or owner-occupant

Seller / Refi / Hold Trigger

•Current lease status and rental history
•Campus proximity and property condition
•Buyer pool: parents, investors, owner-occupants
•Sell vs hold: compare net proceeds with ongoing rental income
•Refinance / cash-out review
•School-year timing: list before leasing season
•Equity position and market conditions

Financing Trigger

•Parent purchase financing (owner-occupied or second home)
•Second-home vs investment property classification
•Investment-property loan options
•DSCR loan review for rental-backed properties
•Refinance and cash-out options
•Down payment sensitivity by loan type
•Insurance, property tax, and HOA review

You're viewing the Penn State University housing market.

•

Use this page to review parent, investor, seller, and financing paths near campus.

Built Around the Penn State University Housing Decision

Families and investors do not search for generic housing. They search around a specific school, a specific timeline, and a specific decision. This market page organizes the major paths around Penn State University.

Parents

Compare rent vs. buy near Penn State University before defaulting to another year of rent.

Start Rent vs. Buy Review

Investors

Review campus-area rental potential, student housing demand, and financing paths.

Analyze a Campus Rental

Sellers

Understand whether campus-area ownership demand may support a sale, refinance, or hold decision.

Request Property Review

Borrowers

Review DSCR, conventional, refinance, and cash-out paths for campus-area property.

Check Financing Options

Penn State Housing Decision Center

Review Penn State University Campus-Area Housing

Independent college housing market review covering parent rent-vs-buy analysis, student-rental investment evaluation, DSCR financing review, seller timing, and local real estate professional connection for the Penn State University / State College market.

Parent Rent vs. Buy

Investor Cash Flow

Seller Review

Financing Path

Parent Rent vs. Buy

Review Candidates

Student-Rental Demand

~65% Off Campus

Local Market Contact

Available

Explore Penn State Property Review Candidates

Estimated review scenario. Current availability, pricing, rent potential, taxes, insurance, HOA, and financing terms should be verified before making a decision. These are not active MLS listings.

NEIGHBORHOODS

Compare Neighborhoods Near Penn State

Compare four State College / Centre County areas by proximity to the Penn State campus, housing type, buyer fit, and practical considerations before focusing your search.

Walkable to Campus

Downtown / Campus Area

16801 / 16802 · Walkable to campus

The downtown State College core around College Avenue and the Penn State campus, with student apartments, offices, restaurants, and historic homes in adjacent neighborhoods. It is the closest, most walkable campus living.

Housing MixStudent apartments and historic homes near the downtown core

Best FitStudents, faculty, and parents wanting the closest walk to campus

Watch ForDowntown State College rents carry a student premium

Featured Area

Family Suburbs

Grange Park / Blue Course

16866 · Short drive to campus

The neighborhoods around the Blue Course Drive and Grange Park, with family subdivisions, parks, and strong schools near the south campus edge. They give Penn State faculty and families a settled, family-friendly base.

Housing MixSuburban single-family homes and townhomes

Best FitFamilies and faculty wanting settled suburbs with easy campus access

Watch ForState College's strong demand keeps inventory competitive

Featured Area

Established Residential

North Atherton / Houserville

16823 · Short drive to campus

Established neighborhoods along North Atherton and toward Houserville offer older family homes and quiet streets a short drive from campus. They provide a calm, settled alternative to the downtown student core.

Housing MixEstablished single-family homes along the north corridors

Best FitFamilies and faculty wanting quiet, established housing near campus

Watch ForNorth Atherton commutes in and out of town at busy hours

Featured Area

Town & Value

Boalsburg / Pine Grove

16828 / 16827 · Short drive to campus

The neighboring town of Boalsburg, with its historic downtown, quiet streets, and relatively affordable housing, sits a short drive south of State College. It has become a practical, value alternative for Penn State families and commuters.

Housing MixHistoric downtown homes and newer subdivisions

Best FitFamilies and budget-conscious buyers wanting value near campus

Watch ForBoalsburg adds a drive for daily commutes to campus

Featured Area

Market Guidance

Penn State University Housing Market Guides

Local guides for parents, investors, sellers, and borrowers reviewing housing near Penn State University in State College.

Parent Guide

Buying Housing Near Penn State University: Parent Guide to State College Campus Areas

What parents should evaluate when comparing rent, ownership, neighborhood selection, and resale potential near Penn State University in State College.

Read Guide

Parent Guide

Rent vs. Buy Near Penn State University

A State College-focused rent-vs-buy guide for families comparing student rental costs against owning near Penn State University.

Read Guide

Local Guide

Best State College Areas to Review for Penn State Housing

A local review of campus-area housing considerations near Penn State University and across the State College area.

Read Guide

Investor Guide

Penn State Student Rental Investment Guide

How investors can evaluate rental demand, local market dynamics, property type, cash flow, and exit strategy around Penn State University.

Read Guide

Seller Guide

Selling a House Near Penn State University

How campus-area owners can position a State College property for parent buyers, investor buyers, and local market demand.

Read Guide

Financing Guide

DSCR and Investor Financing for Penn State-Area Rentals

What borrowers should know when reviewing DSCR, rental income, investor financing, and student-housing properties near Penn State University.

Read Guide

CollegeHousing.ai is an independent platform and is not affiliated with, endorsed by, or sponsored by Penn State University.

Professional partner information is available on the Partner With Us page.

Review Paths

Penn State University Housing Review Paths

Choose the path that best matches your situation near Penn State University in State College. Each review path focuses on a different set of housing and financing questions.

Parent Rent vs. Buy Review

Compare four years of State College rent with ownership costs near Penn State University. Review roommate rent offset, financing structure, and after-graduation options.

Start Parent Review

Investor Cash Flow Review

Evaluate student-rental income, operating expenses, DSCR fit, vacancy assumptions, and long-term college-town demand near Penn State University.

Analyze a Campus Rental

Seller / Hold Review

Review whether your State College-area property may attract parent buyers, student-rental investors, or local demand. Compare sell, refinance, and hold scenarios.

Request Property Review

Financing Review

Review parent-purchase, second-home, investment-property, DSCR, refinance, and cash-out financing paths for the State College market.

Check Financing Options

Property Management Review

Thomas Clark, Nittany Campus Property Management, serves the State College market. Review leasing, maintenance, turnover, and long-distance ownership near Penn State University.

View Thomas's Profile

Start with your decision

Each path focuses on a different set of questions — parent purchase, investment cash flow, seller review, or financing options near Penn State University.