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New Report Fall 2026 Housing Affordability Report: every state is less affordable than in late August as average 30-year mortgage rates passed 7%. Read the report

Penn Lake Park, PA Housing Affordability Index

Penn Lake Park, Pennsylvania has an MBR Housing Affordability Index score of 117.5 (More Affordable Than Average) as of October 30, 2026, ranking 942nd most affordable of 1,325 scored Pennsylvania cities, compared with 108.3 statewide and 97.4 nationally. On a median-priced $243,800 home with 20% down, the Pennsylvania average 30-year fixed rate of 7.23% means a monthly principal and interest payment of about $1,328, or 18% of the city’s $87,159 median household income.

The MBR Housing Affordability Index (MBR-HAI) for Penn Lake Park is updated every night from live Pennsylvania mortgage rates and U.S. Census Bureau income, home value and housing cost data for the city. A score of 100 equals the national average; higher scores mean homeownership is more affordable.

Penn Lake Park MBR-HAI 117.5 More Affordable Than Average
Rank in Pennsylvania 942 of 1,325 1 = most affordable
Pennsylvania 108.3 Statewide score
National 97.4 100 = baseline
Avg 30-yr rate 7.23% Pennsylvania lenders
Median home value $243,800 U.S. Census Bureau

Penn Lake Park is 9.2 points above the Pennsylvania score. Scores as of October 30, 2026. See the Pennsylvania index

View Penn Lake Park Mortgage Rates

See What You Can Afford in Penn Lake Park, Pennsylvania

Use this Penn Lake Park, Pennsylvania home affordability calculator to see how much house you can afford at today’s Pennsylvania average 30-year mortgage rate of 7.23%. A household earning the Penn Lake Park median income of $87,159, with no other debts and $49,000 down, can afford a home of about $271,268, compared with a median home value of $243,800. Buying the median priced home with 20% down takes a household income of about $73,400 once property tax and insurance are counted.

Penn Lake Park median (Census)
Car, student loan, card minimums
Under 20% adds PMI
Pennsylvania average, 30-year fixed
Penn Lake Park median bill (Census)
Estimate; use your quote
You can afford a home up to
$271,268
At or above the Penn Lake Park median home value of $243,800
Loan amount$222,268
Principal & interest$1,514/mo
Property tax$314/mo
Home insurance$113/mo
PMI$93/mo
Total monthly payment$2,034/mo
Compare Penn Lake Park Mortgage Rates

How much house can you afford in Penn Lake Park?

Most lenders use two limits. Your housing payment, including principal, interest, property tax, homeowners insurance and any PMI, should stay under about 28% of your gross monthly income, and all of your monthly debt payments together should stay under about 36%. The calculator takes whichever limit is lower, then works backward from that payment to the most expensive home it covers at the current rate.

In Penn Lake Park, property taxes run about 1.39% of a home’s value each year, based on the Census median tax bill, which counts against the same monthly budget as the mortgage. Each quarter point move in mortgage rates changes the price you can afford by roughly $4,218 for a median income household. A larger down payment, paying down other debts, or a lower rate from a local lender all raise your budget.

What It Takes to Buy in Penn Lake Park

$1,328/mo
Principal & Interest
Median home, 20% down, 7.23%
$56,900
Income Needed
To keep principal and interest at 28% of income
$87,159
Median Household Income
Pennsylvania: $77,971
2.8x
Price-to-Income Ratio
Pennsylvania: 3.3x
$1,241/mo
Median Owner Costs
Mortgage, taxes, insurance, utilities
$3,396/yr
Median Property Tax
1.39% of median value
24.3%
Owner Cost Burden
Owners spending 30%+ of income on housing
63.6%
Renter Cost Burden
Renters spending 30%+ of income on rent

Source: U.S. Census Bureau American Community Survey 5-Year Estimates (2024) for Penn Lake Park, Pennsylvania. The rate is the Pennsylvania average 30-year fixed rate from MonitorBankRates, since lenders publish rates by state.

Cite the Penn Lake Park Score

“MonitorBankRates (MBR) Housing Affordability Index, MonitorBankRates.com, October 30, 2026. Penn Lake Park, Pennsylvania score: 117.5 (More Affordable Than Average), ranked 942 of 1,325 Pennsylvania cities. monitorbankrates.com/housing-affordability-index/pennsylvania/penn-lake-park”