Market Overview
Home Prices in Oil City, PA
The median home value in Oil City, PA is $93,476 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 8.6% compared to a year ago and up 2.7% from two years prior.
Compared to the U.S. national median of $410,000, homes in Oil City are priced77% below average. Oil City is part of the Oil City, PA metro area.
Over the past five years, Oil City home values have risen by approximately13.7%, reflecting steady appreciation in this market.
Price History
Oil City Home Price Trend
City Comparison
Oil City vs. National Median
At $93,476, homes in Oil City cost 77% below the national median of $410,000. This makes Oil City a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Oil City?
20% Down Payment
$18,695
on $93,476
Monthly P&I
$488/mo
30-yr @ 6.8%
Total Monthly Est.
~$620/mo
incl. taxes & insurance
Income Needed
$24,800
gross annual (30% rule)
10% Down Option
$9,348
+ PMI applies
Loan Amount (20% dn)
$74,781
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Oil City, PA?
The median home value in Oil City is $93,476 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 8.6% year-over-year.
How much have home prices changed in Oil City?
Over the past year, home values in Oil City have decreased by 8.6%. Over five years, prices have risen approximately 13.7%.
How much do I need to earn to buy a home in Oil City?
To comfortably afford the median home price of $93,476 with a 20% down payment ($18,695) at today's rates (6.8%), you'd need a gross annual income of approximately $24,800. This assumes keeping total housing costs at or below 30% of gross income.
How does Oil City compare to the national average home price?
The national median home value is approximately $410,000. At $93,476, homes in Oil City are 77% below the national average.
What metro area is Oil City part of?
Oil City is part of the Oil City, PA metropolitan area. Home prices and market conditions can vary across the broader metro region.