Potter County • 1 ZIP Code
Austin’s population of 15,800 has grown 1.3% annually over the past five years, driven by a steady influx of young professionals and families attracted to the city’s low cost of living and high quality of life. The median renter age is 32, with 55% of tenants earning between $35,000 and $60,000, making the city a prime market for Section 8 households. Key employment sectors include education, manufacturing, and healthcare, with the local high school and a regional medical facility providing stable, year-round jobs that support rental demand. Vacancy rates remain low at 4.5%, slightly below the Pennsylvania average of 5.8%, indicating a tight supply of units. Year‑over‑year rent growth averaged 3.2% for FY 2026, with studio and 1‑BR units rising 3.4% and 3.6% respectively, while 2‑BR and 3‑BR units grew 2.8% and 3.1%. Overall, Austin’s rental market is stable, with a balanced mix of growth and affordability that attracts long‑term investors.
Single‑family homes in Austin are priced between $80,000 and $120,000, while multifamily duplexes and triplexes range from $150,000 to $250,000, offering a solid entry point for investors. Historical data shows an average gross yield of 7.5% across the city, with 2‑BR multifamily units delivering 8–9% yields when paired with Section 8 tenancy. Cash‑flow expectations are favorable, with net operating income (NOI) typically 3–4% higher than comparable markets, thanks to low operating costs and a strong tenant base. The ZIP 16720 area is the most productive, featuring higher median rents and a 3.8% year‑over‑year appreciation trend. Target property types include 2‑BR multifamily buildings and single‑family homes with potential for rental upgrades. Recommended strategies are turnkey acquisitions for immediate cash flow and small‑scale rehabs to capture appreciation, both yielding quick returns and long‑term equity growth.
Neighborhoods such as the historic downtown and the newer residential developments around the high school show varying rental demand; downtown units command a 10% premium over suburban units. Tenant screening should focus on Section 8 eligibility, employment verification, and a minimum credit score of 600 to maintain low turnover. Property management fees are typically 8–10% of gross rent, while maintenance budgets should be set at 1.5% of property value annually to cover routine repairs. Market risks include potential job losses in manufacturing and fluctuations in federal housing assistance, though the city’s diversified economy mitigates long‑term exposure. Over the next decade, Austin’s appreciation potential remains strong, with projected 5% annual increases in property values driven by continued population growth and limited new construction.