Rental Homes in Allentown, Pennsylvania
(2024 Case Study)

November 7, 2024

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This month, our team at Signature Properties took a close look at the rental market in Allentown, Pennsylvania, to better understand rental rates, unit sizes, occupancies and many other interesting stats in this area.

As part of doing business, we buy houses and turn them into rentals.

For that reason, this research was critical for us to better understand one of our main exit strategies in Allentown.

Here’s what we found out:

Key Takeaways

On average, a rental home in Allentown will cost you $1,550 per month.
13% of all rentals in the area are single-family houses (vs. apartments, condos, etc.)
15% of rentals are 3-bedroom units. Most tenants with families prefer a 3-bedroom rental.

What Is The Average Rental Rate In Allentown? It’s $1,550.

After researching the various rental listings and descriptions in Allentown, Pennsylvania, we discovered that the median rental rate in Allentown is $1,550. This is 26.2% lower than the national average of $2,099.

We also noticed that when considering all rental data available in Allentown, the typical range (25th – 75th percentiles) is roughly between $1,000 and $2,500 per month. There are only a handful of landlords charging more than ~$2,500 – these are luxury or high-end rentals.

what is the average rental rate in allentown pa

When compared to other places near Allentown, such as Philadelphia, Cherry Hill, Wilmington, and Lancaster, Allentown’s house rental rates are mostly comparable but often a bit higher. You pay a premium for being in the suburbs right outside of the city of brotherly love!

Other locations, such as Trenton, however, have cheaper housing options.

Is your rental property in disrepair? You can easily sell it for cash to a professional home buyer in Allentown.

Are There More LTRs then STRs in Allentown, Pennsylvania? Yes, 35% More!

My team also noticed that Allentown, Pennsylvania lists 35% more long-term rental homes for lease than short-term rental houses. While most listings are for long-term rentals, a smaller selection (43%) represents mid-term or short-term rental listings.

For the most part, these rental listings in Allentown were active and available. However, there were a few already scooped up by tenants or “pending contract”. In a populated market like Allentown, numbers can change quickly.

As pointed out above, many of the rentals were for an entire single-family home. However, there are other larger companies in Allentown who have apartment buildings and townhomes for lease. Some of the major landlords in Allentown include Landmark Communities, Morgan Properties and Hamilton Apartments.

Important note: not every rental unit is equal. Some have dedicated parking spaces, indoor garages, storage units and swimming pools. These perks often garner a larger monthly rental price.

24% of rental units in Allentown, Pennsylvania are for single-family houses or townhomes

Over half of the rentals were for an entire single-family home or townhome. In Allentown, you can also rent an apartments, condominiums, cooperative units or similar types of places.

How Many Rentals Are 3-Bedrooms Or More? 23.4% In Allentown.

Most rentals with 3-bedrooms also have 1+ bathrooms.

average rental home price allentown pa 2024

Though there are some rentals that are categorized as studios or efficiencies, there is not a lot of those available.

And, as one might expect, the more bedrooms your rental house has…the bigger the price you will pay per month.

The market rate for 3-bedroom homes in Allentown, Pennsylvania is currently $1,975.

Top 5 Rental Homes in Allentown

After reviewing a sample of homes available for lease in Allentown, Pennsylvania, we pulled out some current listings that we thought had potential:

One-Bedroom Rental Option: If I was looking for a one-bedroom or studio option, I would pick the Gallery. You’re right in the middle of all Allentown has to offer for just $1,340 per month.
Two-Bedroom Rental Option: My two-bedroom pick would be these Congress Apartment Homes. Functional and affordable. You can’t beat a 2-bedroom at $1,470 per month.
Three-Bedroom Rental Option: At $2,500, this house on S. Wood St. offers three bedrooms and 2.5 bathrooms. It’s clean and ready for your personal touch!
Four-Bedroom Rental Option: Looking for a bigger space? Rent this 4-bedroom house for $3,600 per month. Yeah, it’s expensive, but you get over 3,800 square feet for you and your family!
Our Favorite Rental Option: This house on Sunset Dr. checks all the boxes. It’s clean, quaint and located in a great neighborhood.

There were hundreds of other available properties, but this should give you a good taste of how the pricing and rental terms can fluctuate on a case by case basis. It’s also critical to understand Allentown‘s different neighborhoods, which leads me to this:

Quick Tip: Allentown is a great option overall. Many people relocate to Allentown from Philadelphia – it is the logical next step and closest metro. Before you sell your house in Philadelphia though, lock down your next rental or residence.

Conclusion

In general, Allentown, Pennsylvania, presents an “expensive, but okay” rental market for those looking move to or relocate within. It’s certainly not the most expensive city in America, but it’s also not the cheapest by any means – especially when you consider lower cost options just minutes away in Philadelphia, Delaware and other locations around New Jersey.

Rental options are plentiful at the time of writing this case study if you’re a prospective tenant in Allentown.

If you already own a rental house and you’re interested in selling, my team and I can help you get it done quickly and seamlessly. Find out here how you can sell your house fast in Allentown.

One last tip: selling a house and moving into a rental is a big change. One way to stay organized is by making a list and schedule for yourself, movers, friends and family leading up to the big “moving day”.