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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Allentown, PA Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Allentown, PA Housing Market Trends

With a population of 125,094, 45,553 total housing units (homes and apartments), and a median house value of $234,100, house prices in Allentown are solidly below the national average.

Row houses and other attached homes are the single most common housing type in Allentown, accounting for 37.70% of the city's housing units. Other types of housing that are prevalent in Allentown include single-family detached homes ( 24.20%), large apartment complexes or high rise apartments ( 21.73%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 16.28%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

The most prevalent building size and type in Allentown are three and four bedroom dwellings, chiefly found in row houses and other attached homes. The city has a mixture of owners and renters, with 40.44% owning and 59.56% renting.

The housing in Allentown was primarily built before 1939 ( 41.26%), making the housing stock in Allentown some of the oldest overall in America, although there is a range of ages of homes in Allentown. The next most important housing age is between 1940-1969 ( 34.18%), followed by between 1970-1999 ( 18.37%). There's also some housing in Allentown built between 2000 and later ( 6.19%).

Allentown Home Appreciation Rates

In the last 10 years, Allentown has experienced some of the highest home appreciation rates of any community in the nation. Allentown real estate appreciated 121.93% over the last ten years, which is an average annual home appreciation rate of 8.30%, putting Allentown in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Allentown definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Allentown that despite a nationwide downturn in the housing market, Allentown real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Allentown appreciation rates continue to be some of the highest in America, at 9.02%, which is higher than appreciation rates in 91.53% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Allentown. Allentown appreciation rates in the latest quarter were at 2.24%, which equates to an annual appreciation rate of 9.28%.

Importantly, this makes Allentown one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Pennsylvania, our data show that Allentown's latest annual appreciation rate is higher than 90% of the other cities and towns in Pennsylvania.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Allentown differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Allentown - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Allentown real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$234,100

Allentown, PA Home Prices
> $1,434,000
$1,076,001 - $1,434,000
$717,001 - $1,076,000
$574,001 - $717,000
$430,001 - $574,000
$287,001 - $430,000
$143,001 - $287,000
$72,001 - $143,000
$0 - $72,000
0.5%
0.5%
0.6%
0.6%
1.0%
1.0%
2.2%
2.2%
3.5%
3.5%
20.9%
20.9%
55.6%
55.6%
12.1%
12.1%
3.6%
3.6%
0% 100.0%
% of Homes
Average

for Pennsylvania

Average

for nation

Number of Homes And Apartments:

45,553

Allentown Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,840 / per month

Homeownership Rate

Owners
Renters
40.4%
40.4%
59.6%
59.6%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
7.3%
7.3%
92.7%
92.7%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
6.2%
6.2%
18.4%
18.4%
34.2%
34.2%
41.3%
41.3%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
24.2%
24.2%
37.7%
37.7%
16.3%
16.3%
21.7%
21.7%
0.1%
0.1%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
3.7%
3.7%
18.2%
18.2%
23.0%
23.0%
36.5%
36.5%
10.8%
10.8%
7.9%
7.9%
0% 100.0%
% of Homes