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City · 9,468 residents · Venango County, Pennsylvania

Oil City , Pennsylvania

In Oil City, a typical home is worth $74,100 and typical rent is $821 a month. Compared with all of Venango County, the typical home value is 38% lower, typical household income is 17% lower, and the share of households that own their home is 14 points lower.

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  • Typical home value

    $74,100

    38% below the county

    71% below Pennsylvania

    • Oil City
    • Venango
    • Pennsylvania

  • Typical rent

    $821a month

    3% above the county

    32% below Pennsylvania

    • Oil City
    • Venango
    • Pennsylvania

  • Typical household income

    $51,316a year

    17% below the county

    34% below Pennsylvania

    • Oil City
    • Venango
    • Pennsylvania

  • Households that own their home

    61%

    14 points below the county

    8 points below Pennsylvania

    • Oil City
    • Venango
    • Pennsylvania

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$87,867
5.7% less than 12 months ago

From Zillow (ZHVI), September 2026. The Census figures above are 5-year averages (2020–2024).

Oil City is in Venango County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Venango County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Oil City apart

What this place has that others do not, from public data, most unusual first.

  1. Oil City has the 6th lowest typical home value of the 273 cities in Pennsylvania with more than 5,000 people ($74,100).

  2. According to Zillow, in the 12 months to September 2026 the typical home value in Oil City fell 5.7%; in Pennsylvania, it rose 2.2%.

  3. 61% of households in Oil City own their home, against 75% in Venango County.

  4. Nearby, in Titusville, the typical rent is $662: 19% less than in Oil City ($821).

  5. The typical household income in Oil City is $51,316, 17% less than in Venango County as a whole ($61,522).

Sources: U.S. Census Bureau (Average 2020–2024); Zillow (September 2026 data). Zillow data

The homes here

Housing in Oil City

What homes there are in Oil City, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

Detached houses are the majority in Oil City (74%), but less so than in Venango County (78%).

Year built

In Oil City, at least half of the homes were built before 1940, and 75% date from before 1960.

There is more room for a big family here: 67% of homes have 3 bedrooms or more, against 64% in Venango County.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

With a mortgage

$968 a month

Venango County: $1,149 a month

Without a mortgage

$491 a month

Venango County: $475 a month

Owners with a mortgage

37%

Venango County: 44%

The typical cost for an owner with a mortgage in Oil City is $968 a month, less than in Venango County ($1,149); without one, $491.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

Since 2015–2019, homes in Oil City gained value faster than in Venango County: 43% against 34%.

Since 2015–2019, the typical rent in Oil City rose 34%, more than in Venango County (28%).

The typical household income in Oil City rose 29%: less than home values (+43%) and rent (+34%).

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureOil CityVenango CountyPennsylvaniaUnited States
Rental vacancy Unreliable estimateUnreliable estimate4.9%5.5%
Homeowner vacancy Unreliable estimate1.5%0.8%0.9%
More than one person per room Unreliable estimate1.2%1.6%3.4%
People per household 2.352.282.392.53
Drive alone 77%79%68%69%
Carpool 15%9%8%9%
Public transit Unreliable estimateUnreliable estimate4%3%
Walk or bike Unreliable estimate2%4%3%
Work from home Unreliable estimate9%16%15%
Other means Unreliable estimate0%1%2%
Typical commute 10 to 19 minutesUnreliable estimate20 to 29 minutes20 to 29 minutes

A household in Oil City has 2.35 people on average, about the same as in Venango County (2.28).

More people carpool to work in Oil City than in Venango County: 15% against 9%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Oil City?

A typical home is within reach of the typical income

We start with a typical home in Oil City, worth $74,100, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 16% of the typical household income in Oil City, which is $51,316 a year.

The calculator's FHA and conventional loan limits are those of all of Venango County.

Your numbers

Local data
$

Starts at the typical home value in Oil City. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $2,594 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$669

at 7.18% · 30 years

Loan amount
$72,757
Total interest
$104,681
Paid off in
November 2056

Includes $1,251 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,197 a month

    Your payment · 16%

  • Tight

    $1,197 to $1,539 a month

  • Hard

    more than $1,539 a month

Compared with the typical household income in Oil City ($51,316 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$669
Principal & interest$493
Property tax$112
Home insurance$31
FHA mortgage insurance (MIP)$33

You need at least $2,594 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Oil City and Venango County

Oil City is in Venango County, Pennsylvania. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Oil City's own numbers

Typical home value
$74,100
Typical monthly rent
$821
Typical yearly household income
$51,316
Households that own their home
61%
Effective property tax rate
1.82%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Venango County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,014
Price change over 5 years (FHFA)
+44%
Homes in a high flood-risk zone
3%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Venango County.

Everything about Venango County

Buying

Buying a home in Oil City

A typical home in Oil City is worth $74,100: 38% below the county and 71% below Pennsylvania. With the typical household income in Oil City ($51,316 a year), a typical home costs 1.4 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Oil City 1.4 years
  • Venango 1.9 years
  • Pennsylvania 3.3 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Venango County

According to FHFA’s house price index, home prices in Venango County rose 66% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Venango County.

Period County Pennsylvania U.S.
Last year (2025) +1.9% +4.7% +2.9%
5 years (2020–2025) +44% +48% +47%
10 years (2015–2025) +66% +77% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Oil City next to Venango County, Pennsylvania and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Oil City $74,100
  • Venango $119,800
  • Pennsylvania $254,500
  • United States $332,700
Typical monthly rent
  • Oil City $821
  • Venango $795
  • Pennsylvania $1,209
  • United States $1,413
Typical yearly household income
  • Oil City $51,316
  • Venango $61,522
  • Pennsylvania $77,971
  • United States $80,734
See the full table
Oil City next to Venango County and Pennsylvania
Measure Oil City Venango County Pennsylvania U.S.
Typical home value $74,100 $119,800 $254,500 $332,700
Typical monthly rent $821 $795 $1,209 $1,413
Typical yearly household income $51,316 $61,522 $77,971 $80,734
Households that own their home 61% 75% 69% 65%
Typical yearly property tax $1,345 $1,520 $3,311 $3,119
Effective property tax rate 1.82% 1.27% 1.3% 0.94%
Renters with high rent for their income 56% 48% 48% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Venango County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Oil City

For a typical $74,100 home in Oil City, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Oil City's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $669a month

    Least cash to close
    Down payment
    $2,594
    Cash to close
    $4,817
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $33

  • Conventional, 5% down $655a month

    Down payment
    $3,705
    Cash to close
    $5,928
    Rate
    7.18%
    Mortgage insurance
    PMI · $35

  • Conventional, 20% down, no PMI $545a month

    Down payment
    $14,820
    Cash to close
    $17,043
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $613a month

    Down payment
    $11,115
    Cash to close
    $13,338
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Oil City and for Venango County.

Property tax

Effective rate in Oil City

1.82%of the home’s value each year

$1,345 a year for the typical owner in Oil City.

  • Oil City 1.82%
  • Venango 1.27%
  • Pennsylvania 1.3%

What Pennsylvania publishes Property Tax/Rent Rebate Program (PTRR) (Pennsylvania Department of Revenue)

Exemptions and deadlines in Pennsylvania

Flood risk in Venango County

FEMA does not publish these numbers by city: they are for all of Venango County.

Homes in the high-risk zone
3%
771
Of those, with NFIP insurance
9.5%
County Pennsylvania U.S.
Homes in the high-risk zone 3% 2% 3.5%
Of those, with NFIP insurance 9.5% 23% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Oil City

Typical rent in Oil City is $821 a month: 3% above the county. In Oil City, 56% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Venango County, by unit size. To pay the 2-bedroom one ($1,014 a month) without spending more than 30% of your income, you would need to earn $19.50 an hour working full time.

HUD fair market rent for all of Venango County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $706 $13.58 $28,240
1 bedroom $775 $14.90 $31,000
2 bedrooms $1,014 $19.50 $40,560
3 bedrooms $1,276 $24.54 $51,040
4 bedrooms $1,429 $27.48 $57,160

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Oil City

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Oil City is in ZIP code 16301.

For 2 bedrooms it is $1,030: $16 more than the fair market rent for Venango County ($1,014).

  • 16301 $1,030$1,300

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Oil City when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Oil City

HUD lists 6 buildings with rents for lower incomes in Oil City. These are the largest.

  • Towne Towers 7 E 2nd St, Oil City 16301 100 low-income homes · For older adults (814) 676-9315
  • Moran/Siverly 110 Moran St, Oil City 16301 78 homes, 76 low-income · Run by Housing Authority of the City of Oil City · Average payment: $364 a month · Average wait: 5 months · Homes at several sites (814) 676-5764
  • Century/Scattered Sites 311 Fern Ct, Oil City 16301 70 low-income homes · Run by Housing Authority of the City of Oil City · Average payment: $349 a month · Average wait: 16 months · Homes at several sites (814) 676-5764
  • Luther Place 1 Sycamore St, Oil City 16301 50 homes, 49 low-income · For older adults (814) 678-0052
  • Seneca Court 232 Seneca St, Oil City 16301 24 low-income homes · 1 bd: 24 · In service since 2001 · For older adults

See all 14 buildings in Venango County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Oil City

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

We found no HUD-approved agencies with an office in Venango County. The nearest ones are below; many serve by phone or online.

An older woman smiles in front of her apartment building.

HUD counseling is free or low-cost

Assistance programs in Oil City

No down payment, repair or rent-help program on our list is for Oil City or Venango County. The ones below are statewide in Pennsylvania: they work in Oil City the same as in the rest of the state.

Which programs do I qualify for? All programs in Pennsylvania

Housing counselors near Oil City

The HUD-approved agencies closest to the center of Oil City, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Center for Family Services, Incorporated

    996 S Main St, Meadville · 27 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 7 more
    (814) 337-8450

  • Housing Authority of the County of Butler

    114 Woody Dr, Butler · 41 miles away

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 8 more
    (724) 287-6797

  • Shenango Valley Urban League

    601 Indiana Ave, Farrell · 43 miles away

    • Mortgage delinquency and default
    • Homelessness services
    • and 2 more
    (724) 981-5310

All counseling agencies in Pennsylvania

Help in Spanish near Oil City

1 of the 3 agencies on this list says it serves in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Oil City

HUD’s record names them for Oil City or Venango County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Housing Authority of the City of Oil City Public housing and Section 8 vouchers (814) 676-5764

One other authority has an office in Venango County: see the list Source: HUD

Cities

Other cities in Venango County

These cities are also in Venango County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Venango County Housing in Pennsylvania

Nearby cities

The cities closest to Oil City, with the typical home value.

Neighboring counties

If Venango County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Oil City.

All guides
A smiling girl holds up a small mushroom she found on a forest outing.

Questions

Housing questions about Oil City

Short answers with the numbers for Oil City and all of Venango County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Oil City?

The typical home value in Oil City is $74,100, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Venango County it is $119,800.

How much does it cost to rent in Oil City?

Typical rent in Oil City is $821 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Venango County is $1,014.

What is the FHA loan limit in Oil City?

Oil City uses the FHA limit for all of Venango County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Oil City?

The typical homeowner in Oil City pays $1,345 a year, according to the U.S. Census Bureau. That is 1.82% of the home’s value; in Venango County, the rate is 1.27%.

Where can I find free help to buy or rent in Oil City?

We found no HUD-approved counseling agencies with an office in Venango County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).