Renting varies all around this town.
Average 1 bedroom--probably around $6-700
2 bedroom--$1000

As far as buying a home, Forbes magazine just rated State College PA as the most overpriced real estate market in the country

Small homes run anywhere from $150,000 to $250,000, while average homes run anywhere from $300,000 to $500,000. It's not rare to read the real estate section in the newspaper on Sundays and find houses around the million dollar mark.