Commercial Real Estate Market in State College, PA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
75 active listings and 1,328 off-market properties in State College, PA. Commercial property asks $228/SF to buy and $18.00/SF/Yr to lease.
Market Trends
State College, PA spans 54.8 square miles in Centre County, Pennsylvania. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in State College, PA runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Retail
Retail vacancy in State College, PA runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
Industrial
Industrial vacancy in State College, PA runs 7.6% across the Northeast region in 2025, up from 5.4% in 2019. Nearly 2.4x the 2021 low of 3.2%.
Multifamily
Multifamily vacancy in State College, PA runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Market overview
Demographics & Economy
State College, PA has 80,174 residents in 31,463 households. Density runs 1,462 people per square mile. Median household income here is $66,199 and median gross rent $1,273 a month.
Tools
Lease vs Buy Breakeven
At $18.00/SF/Yr lease vs $228/SF buy → buying wins if held > 2.3 years.
At a 7.9% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Frequently Asked Questions
What is the median price per square foot for commercial property in State College?
How much does it cost to lease commercial space in State College?
Is it cheaper to lease or buy commercial space in State College?
Where does Realmo's State College market data come from?
Methodology & data sources
- Asking prices and medians
- There are 33 active for-sale and 42 active for-lease listings in State College, PA. The medians are based on 14 of the for-sale and 18 of the for-lease listings, those that state a price or rent per square foot. These are ASKING figures from live listings, not closed-transaction prices, and a figure resting on fewer than 10 listings says so where it is quoted.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 October 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Northeast region level, retail vacancy is reported at Northeast region level and industrial vacancy is reported at Northeast region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 October 2026 · How Realmo checks market page data · Report a data issue
