allentown apartments / housing for rent "allentown" - craigslist (2024)

FAQs

Why is rent so high in Allentown PA? ›

To explain the higher rents, Kern said there is a combination of factors at work, including “mortgages, increased taxes, increased bills if the landlord pays any utilities, increased costs of building and maintenance supplies, etc.” In addition, newcomers from New York and New Jersey are used to paying higher rents, ...

Among Allentown residents, there is a homeowner vacancy rate of 3.2% and a rental vacancy rate of 7.9% from a total of 45,790 units.

The cost of living in Allentown, PA is 9% higher than the state average and 5% higher than the national average. Allentown, PA housing is 7% more expensive than the U.S average, while utilities are about 5% pricier.

In Eastern Pennsylvania, you'll find Allentown, a city known for its rich history, vibrant arts scene, and welcoming neighborhoods. With its unique blend of historic charm and modern amenities, Allentown draws residents from all over.

Allentown, PA Unemployment Rate is at 4.40%, compared to 3.80% last month and 5.00% last year. This is lower than the long term average of 7.69%.

Low vacancy rates mean there are more occupied units, while high vacancy rates indicate people do not want to live in a certain building or area. The rate is calculated by taking the number of vacant units, multiplying that number by 100, and dividing that result by the total number of units.

Basic Info. Lehigh County, PA Unemployment Rate is at 3.80%, compared to 3.30% last month and 3.80% last year. This is lower than the long term average of 5.72%.

What is the poverty rate in Allentown? ›

Poverty & Diversity

21.4% of the population for whom poverty status is determined in Allentown, PA (25.7k out of 120k people) live below the poverty line, a number that is higher than the national average of 12.5%.

#2: Allentown

It is also home to the Liberty Bell museum, where it once was stored in a church, art museums, the Trexler Nature Preserve, and many iconic breweries. There is a mix of generations in Allentown which is great for landlords who should expect around 119 leads per property and only nine days on the market.

In the 1970s, the flow of Puerto Ricans into Allentown continued, but a growing number moved directly from New York City, rather than Puerto Rico, due to perceptions that the cost of living in Allentown was cheaper and the city was safer, as well as decreased pressure to leave Puerto Rico for better economic conditions ...

Allentown holds historical significance as the location where the Liberty Bell, then known as the State House Bell, was successfully hidden for nine months by American patriots to avoid its capture by the British Army after the fall of Philadelphia during the Revolutionary War.

Summers are typically warm and humid and winters are cool to cold, with slightly more than 100 days below freezing on average. Precipitation is distributed evenly throughout the year. Snowfall varies between light snow and numerous significant snowstorms in the area from year to year.

There is no legal maximum rent increase in Pennsylvania at the state level, as there are no rent control laws. Landlords can set rental increases as they see fit, provided they give tenants proper notice, usually 30 to 60 days, depending on the lease agreement.

According to the Lehigh Valley Planning Commission, the region is short 9,000 units, a number that is expected to increase by 1,300 per year. More than half of renters and 25% of homeowners are cost-burdened, meaning they spend more than 30% of their income on housing costs.

An influx of new, higher income residents combined with limited new housing construction is driving a severe housing shortage across the region. From May 2019 to May 2023, home sale prices in the city of Bethlehem increased more than 50% while rents rose 40%.