Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Lehigh County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Median Home Price | $214,038 | $154,283 | $242,182 |
| Price Trend (Annual %) | 8.9% | 4.4% | 8.2% |
| Median Gross Rent | $1,325 | $1,161 | $1,342 |
| Rent Trend (Annual %) | 4.8% | 4.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Lehigh County is about 39% higher than in Pennsylvania. Rent is about 14% higher than the Pennsylvania average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Lehigh County, up about 8.9% and 4.8% a year respectively. Home prices are changing faster.
Median rent in Lehigh County rose about 42.7% between 2015 and 2023, from $929 to $1,325. Over the same span, rent in Pennsylvania rose about 38.3%.
Affordability
On average, housing unit costs 2.7 yearly household incomes in Lehigh County.
Buying the median-priced home in Lehigh County costs roughly 13.5 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Lehigh County. The price-to-rent ratio in Pennsylvania is about 11.1.
| Metric | Lehigh County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Median Home Price | $214,038 | $154,283 | $242,182 |
| Median Household Income | $77,935 | $76,231 | $78,145 |
| Price-to-Income Ratio | 2.7 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Lehigh County rose about 55.3%, while median household income rose about 44.9% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Lehigh County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 62.1% | 62.8% | 58.2% |
| Rental Rate | 33.1% | 27.8% | 31.3% |
| Vacancy Rate | 4.7% | 9.4% | 10.6% |
| Median Tenure (years) | 17.0 | 17.0 | 15.0 |
| Median Year Moved In | 2009 | 2009 | 2011 |
Lehigh County has a homeownership rate of 62.1%, lower than the Pennsylvania average of 62.8%. Its housing vacancy rate is 4.7%, compared with 9.4% in Pennsylvania.
Housing Stock
| Metric | Lehigh County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.55 people | 2.40 people | 2.54 people |
| Median Structure Built Year | 1968 | 1965 | 1978 |
| Median Number of Rooms | 6.1 | 6.0 | 5.5 |
The typical housing unit in Lehigh County was built around 1968. On average, 2.6 people live in a home with about 6.1 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Lehigh County, Pennsylvania.
What is the median home price in Lehigh County, Pennsylvania?
The median home price in Lehigh County, Pennsylvania is $214,038, higher than the Pennsylvania average of $154,283.
What is the average home price in Lehigh County, Pennsylvania?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Lehigh County, Pennsylvania?
The median gross rent in Lehigh County, Pennsylvania is $1,325 per month, higher than the Pennsylvania average of $1,161.
What was the median gross rent in Lehigh County in 2020?
In 2020, the median gross rent in Lehigh County, Pennsylvania was $1,105 per month.
What is the price-to-rent ratio in Lehigh County, Pennsylvania?
The price-to-rent ratio in Lehigh County, Pennsylvania is about 13.5, meaning it would take roughly 13.5 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Lehigh County.
Are home prices or rent rising faster in Lehigh County, Pennsylvania?
Both home prices and rent are rising in Lehigh County, up about 8.9% and 4.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Lehigh County, Pennsylvania?
62.1% of households in Lehigh County, Pennsylvania own their home, lower than the Pennsylvania average of 62.8%.
What is the vacancy rate in Lehigh County, Pennsylvania?
The housing vacancy rate in Lehigh County, Pennsylvania is 4.7%, lower than the Pennsylvania average of 9.4%.