Commercial Real Estate Market in State College, PA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
101 active listings and 1,328 off-market properties in State College, PA. Commercial property asks $113/SF to buy and $21.43/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 August 2026.
Office
Office vacancy in State College, PA runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Vacancy Rate % in Northeast region
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%.
Vacancy Rate % in Northeast region
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%.
Vacancy Rate % in Northeast region
Multifamily
Multifamily vacancy in State College, PA runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Vacancy Rate % in Northeast region
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.
80,174
Population
31,463
Households
2.5
Avg Household Size
27
Median Age
69%
College-Educated
98%
High-School Grad
54.8 sq mi
ZIP Area
1,462
Density / Sq Mi
$66,199
Median Household Income
$26,146
Median Earnings
$1,273
Median Rent
$398,706
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Lemont | — | — |
| Boalsburg | — | — |
| Pine Grove Mills | — | — |
| Julian | — | — |
Commercial property in State College, PA asks $113/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in State College?
Commercial property in State College, PA asks an average of $113 per square foot.
How much does it cost to lease commercial space in State College?
Asking lease rates in State College, PA average $21.43 per square foot per year.
Where does Realmo's State College market data come from?
Realmo compiles State College, PA figures from 8 recent recorded sales, 53 active sale listings, 48 active lease listings, 1,328 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 53 active for-sale and 48 active for-lease listings in State College, PA. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- 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 August 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 August 2026 · report a data issue
