ZIP Code 16142 Housing Market
ZIP code 16142 is located in Lawrence County, Pennsylvania. Based on the FHFA House Price Index, the most recent annual HPI value is 213.3 (2000 = 100) , with a year-over-year change of -8.09% as of 2025.
📈 16142 HPI Trend
FHFA House Price Index for Five-Digit ZIP Codes (2000 = 100)
📝 Local Market Notes
The housing market in ZIP code 16142 exhibits a volatile price trajectory over the past five years. The Home Price Index (HPI) surged from 151.24 in 2021 to a peak of 232.12 in 2024, indicating rapid appreciation during the post-pandemic period. However, the index has since corrected to 213.35 in 2025. This recent decline represents a year-over-year contraction of 8.09%, signaling a sharp reversal from the prior year’s momentum. The magnitude of this drop suggests that the local market experienced an overheated peak in 2024, followed by a significant adjustment in 2025. This performance stands in stark contrast to broader regional trends. While Lawrence County recorded a year-over-year increase of 6.44% and the state of Pennsylvania grew by 3.89%, ZIP 16142 contracted by 8.09%. This divergence indicates that the sub-market is undergoing a distinct correction phase, decoupling from the general stability observed in neighboring areas such as ZIP 16105, which grew by 7.05%. The negative divergence suggests that specific local factors, rather than macroeconomic forces, are driving the current price adjustments in this specific postal code. In terms of sub-market character, the area aligns with the entry-level segment of the housing market. The parent county’s median home value of $147,200 and median household income of $61,931 support an affordable market profile, reinforced by a high owner occupancy rate of 75.8%. Although the ZIP’s HPI is elevated due to recent volatility, the underlying economic fundamentals remain consistent with a budget-conscious demographic. For prospective buyers, the current 8.09% year-over-year price decline offers a potential entry point at lower price points compared to the 2024 peak. Residents should note that while the local market is currently cooling, the national 30-year mortgage rate of 7.40% remains a significant barrier to affordability, necessitating careful financial planning for those entering this specific market.
About This ZIP Code
ZIP code 16142 is one of the most active real estate sub-markets in Lawrence County, Pennsylvania. The FHFA House Price Index tracks cumulative price appreciation since 2000, providing a consistent measure of long-term value change in this specific ZIP area.
For full county-level context, see the Lawrence County Housing Market page, which includes ACS median home values, rent, owner-occupancy, employment, migration, and other economic indicators.
Other Active ZIPs in Lawrence County
| ZIP Code | HPI | YoY | Latest Year |
|---|---|---|---|
| 16105 | 210.4 | +7.05% | 2025 |
| 16101 | 200.7 | +2.22% | 2025 |
Data Source: FHFA House Price Index for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100). Data as of 2025. This product uses FHFA Data but is neither endorsed nor certified by FHFA.