New Kensington, Pennsylvania Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the New Kensington, Pennsylvania rental market.
New Kensington, Pennsylvania
Average Apartment Rent
$819
Y-o-Y Change in Average
Apartment Rent
3.5%
As of July 2024
Compared to a year ago, New Kensington, Pennsylvania apartments have recorded a 3.5% rent increase.
New Kensington, Pennsylvania |Average apartment rent trend
New Kensington, Pennsylvania| Average apartment rent
New Kensington, Pennsylvania | Apartment rent ranges
At 75.38%, apartments priced $700 - $1000 represent the bulk of New Kensington, Pennsylvania rentals, while condos priced $1,000 - $1,500 hold the lowest share of the market – 3.52%.
New Kensington, Pennsylvania | Housing tenure**
Renters take up 40% of New Kensington, Pennsylvania real estate, occupying a total of 2,387 units, while homeowners live in 3,577 properties.
Median number of rooms of renter-occupied housing units**
4.3
Renter median household income**
$22,926
Average household size of renter-occupied housing units**
1.96
Rental vacancy rate**
5.4%
New Kensington, Pennsylvania | Renter-occupied housing units by no. of bedrooms**
There are 948 rentals in New Kensington, Pennsylvania with 2 beds making up the highest share of the market, at 40%. Units with No bedrooms, on the other hand, hold the lowest percentage (1%), amounting to 15 units. Overall, the median number of rooms in New Kensington, Pennsylvania homes for rent is 4.3.
New Kensington, Pennsylvania |Renter-occupied units by age of householder**
Most condos for rent in New Kensington, Pennsylvania are occupied by residents in the 60 - 64 years age group (20%), followed by those in the 55 - 59 years age group (14%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 4%.
New Kensington, Pennsylvania | Renter-occupied housing units by family type**
New Kensington, Pennsylvania | Renter-occupied housing units by the presence of own children**
A total of 860 apartments for rent in New Kensington, Pennsylvania, or 36% of all rentals are family households. Additionally, 26% of rental homes include children under the age of 18 – that’s 624 units. All in all, the median size of a renter-occupied household in New Kensington, Pennsylvania is 1.96.
New Kensington, Pennsylvania | Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 12% of the rental market. In contrast, residents with less than a high school degree reside in 5% of the homes for rent in New Kensington, Pennsylvania.
New Kensington, Pennsylvania | Renter-occupied units by year structure built**
The highest share of New Kensington, Pennsylvania apartment rentals, namely 24% or 562 units, were Built 1939 or earlier, followed by those Built 1970 - 1979 (23%, 539 units), and the ones Built 1940 - 1949 (14%, 346 units).
New Kensington, Pennsylvania | Renter-occupied units by year householder moved in**
Median year renter moved into unit2016
Most New Kensington, Pennsylvania renters (29%) moved in 2018 to 2020, while only 4% of them moved in 1990 to 1999. Overall, the median year renters have occupied their New Kensington, Pennsylvania condos for rent is 2016.
New Kensington, Pennsylvania | Renter-occupied housing units by vehicles available**
When it comes to transportation options, 48% of New Kensington, Pennsylvania renters have 1 vehicle available per household, 36% of them have No vehicle available, and 13% have 2 vehicles available.
New Kensington, Pennsylvania | Means of transportation to work of householders living in renter-occupied housing units**
New Kensington, Pennsylvania |Geographical mobility in the past year for householders living in renter-occupied housing units**
New Kensington, Pennsylvania | Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all New Kensington, Pennsylvania apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates