Johnstown, PA — Rental Investment Analysis
🟢STRONG— excellent cash flow marketData: HUD FMR FY2024 + Zillow ZHVI April 2026 + Freddie Mac rates. Last updated June 2026.
Investment Summary
As of 2026, Johnstown, PA has a median cap rate of 14.3%, making it one of the top cash-flowing rental markets in the United States.
Johnstown is one of the strongest cash flow markets in the data. With a median home price of $75,908, entry costs are low — making it accessible for beginning investors or those buying multiple properties. With 3-bedroom rents around $1,110/month, the 14.3% cap rate tells the story. A typical rental here cash flows +$398/month after all expenses — strong passive income from day one.
The market passes the 1% rule (1.62%), which is increasingly rare and signals strong rent-to-price fundamentals. DSCR of 2.24 means the property's income comfortably covers debt service — DSCR loans should be easy to qualify for here.
Bottom line: Buy here if you want reliable monthly income. Johnstown is a cash flow market — don't expect rapid appreciation, but the checks come in every month.
Data sources: HUD Fair Market Rents (FY2024), Zillow Home Value Index (April 2026), Freddie Mac Primary Mortgage Market Survey.
Cap Rate
14.3%
Above average
Monthly Cash Flow
+$398
After all expenses
Price-to-Rent
5.7
Investor-friendly
DSCR
2.24
Passes lender test
Key Metrics
- Median Home Price
- $75,908
- Average Rent (3BR)
- $1,110/mo
- Price-to-Rent Ratio
- 5.7(good)
- 1% Rule
- 1.62%(passes)
- Cash-on-Cash Return
- 34.2%
- Vacancy Rate
- 8.0%
Market Strength
- Unemployment Rate
- 4.2%(-0.1% vs national)
- Rent Growth (YoY)
- +2.9%(national avg)
- Population Growth
- -0.5% YoY
Property Tax Rate
1.43%
of assessed value (PA avg)
Median Income
$67,587
household (PA avg)
Rent-to-Income
19.7%
Affordable
Section 8 Max Rent
$1,110/mo
3BR voucher payment
PA Investor Climate
Landlord Friendly
6/10
State Income Tax
Has state tax
Property Tax
1.43% effective
Population Trend
-0.5% (3yr)