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State College vs Williamsport for Rental Property Investing

Side-by-side comparison of State College, PA and Williamsport, PA — cap rates, rent, prices, and investment metrics.

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State College wins 3–0 across key metrics
State College leads on cash flow (3.16% vs 2.98% cap rate)
Metric
State College, PA
Williamsport, PA
Est. Cap Rate
3.16%
2.98%
Median Home Price
$340,000
$225,000
Median Monthly Rent
$1,610
$1,030
1% Rule
0.47%
0.46%
GRM
17.6x
18.2x
Price / Income
7.1x
4.7x
Property Tax Rate
1.38%
1.38%
Vacancy Rate
6%
6%
Population Growth
0.2% / yr
0.2% / yr
Annual Appreciation
2.3%
2.3%
Population
50,000
50,000
Median Income
$47,800
$47,800

State College vs Williamsport: Which Is Better for Investors?

Cash flow: State College has the edge with an estimated cap rate of 3.16% compared to Williamsport's 2.98%. Neither city passes the 1% rule outright, so deal sourcing and value-add strategies become more important. Median home prices are $340,000 in State College vs $225,000 in Williamsport, while rents come in at $1,610/mo and $1,030/mo respectively. For context, the national average cap rate is 3.81% and average price is $333K.

Growth & appreciation: State College is growing faster at 0.2% annually vs Williamsport's 0.2%. State College leads on home value appreciation at 2.3% per year.

Costs & risk: Property taxes are 1.38% in State College vs 1.38% in Williamsport. Vacancy rates of 6% and 6% are mixed — Williamsport has the tighter rental market.

Entry point: Williamsport offers a lower entry at $225K vs State College's $340K — a difference of $115K. With a 20% down payment, that's $45K vs $68K. State College's higher price may be justified by better market fundamentals.

Bottom line: State College edges out Williamsport on most key metrics. While cap rates are moderate at 3.16%, State College's overall profile is stronger. Use our free calculators to model specific deals in State College or Williamsport.

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State College, PA
3.16% cap rate · $340,000 median · $1,610/mo
Full analysis →
Williamsport, PA
2.98% cap rate · $225,000 median · $1,030/mo
Full analysis →

Frequently Asked Questions

Is State College or Williamsport better for rental investing?
State College wins 3–0 across our 7 key metrics (cap rate, 1% rule, GRM, taxes, vacancy, growth, appreciation). State College's 3.16% cap rate and $340K median price edge out Williamsport's 2.98% at $225K.
What is the cap rate difference between State College and Williamsport?
State College has a 3.16% cap rate vs Williamsport's 2.98% — a difference of 0.18 percentage points. This is a relatively small difference — other factors like growth, taxes, and local market conditions may matter more. For context, the national average is 3.81%.
Which city has lower property taxes?
Williamsport has lower property taxes at 1.38% vs 1.38%. On a $283K property, that's a difference of approximately $1,587/year in tax expense — money that goes directly to (or from) your cash flow.
Which city is growing faster?
State College is growing at 0.2% annually vs Williamsport's 0.2%. Both cities have slow growth — focus on the strongest neighborhoods. State College's appreciation rate of 2.3% also leads on home value growth.

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