Reading, Pennsylvania Housing Market Prices
Reading Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 5% below the Pennsylvania median$144,216
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Median rent 12% below the Pennsylvania median$1,067
Housing Market Overview
| Metric | Reading | Pennsylvania Avg | US Average |
|---|---|---|---|
| Median Home Price | $144,216 | $152,469 | $248,835 |
| Price Trend (Annual %) | 11.5% | 3.7% | 7.5% |
| Median Gross Rent | $1,067 | $1,208 | $1,407 |
| Rent Trend (Annual %) | 4.5% | 4.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Reading is about 5% lower than in Pennsylvania. Rent is about 12% lower than the Pennsylvania average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Reading, up about 11.5% and 4.5% a year respectively. Home prices are changing faster.
Median rent in Reading rose about 46.1% between 2015 and 2024, from $731 to $1,067. Over the same span, rent in Pennsylvania rose about 43.9%.
Affordability
On average, housing unit costs 3.3 yearly household incomes in Reading.
Buying the median-priced home in Reading costs roughly 11.3 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 Reading. The price-to-rent ratio in Pennsylvania is about 10.5.
| Metric | Reading | Pennsylvania Avg | US Average |
|---|---|---|---|
| Median Home Price | $144,216 | $152,469 | $248,835 |
| Median Household Income | $44,237 | $78,249 | $80,455 |
| Price-to-Income Ratio | 3.3 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Reading rose about 151.6%, while median household income rose about 51.7% between 2009 and 2025 — 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 | Reading | Pennsylvania Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 37.4% | 63.0% | 58.5% |
| Rental Rate | 54.7% | 27.9% | 31.2% |
| Vacancy Rate | 8.0% | 9.1% | 10.2% |
| Median Tenure (years) | 11.0 | 17.0 | 15.0 |
| Median Year Moved In | 2015 | 2009 | 2011 |
Reading has a homeownership rate of 37.4%, lower than the Pennsylvania average of 63.0%. Its housing vacancy rate is 8.0%, compared with 9.1% in Pennsylvania.
Housing Stock
| Metric | Reading | Pennsylvania Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.77 people | 2.39 people | 2.53 people |
| Median Structure Built Year | 1944 | 1966 | 1978 |
| Median Number of Rooms | 5.6 | 6.0 | 5.5 |
The typical housing unit in Reading was built around 1944. On average, 2.8 people live in a home with about 5.6 rooms, staying for about 11.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Reading, Pennsylvania.
What is the median home price in Reading, Pennsylvania?
The median home price in Reading, Pennsylvania is $144,216, lower than the Pennsylvania average of $152,469.
What is the average home price in Reading, Pennsylvania?
The typical home price in Reading, Pennsylvania, reported as the median sale price, is $144,216. 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 Reading, Pennsylvania?
The median gross rent in Reading, Pennsylvania is $1,067 per month, lower than the Pennsylvania average of $1,208.
What was the median gross rent in Reading in 2020?
In 2020, the median gross rent in Reading, Pennsylvania was $817 per month.
What is the price-to-rent ratio in Reading, Pennsylvania?
The price-to-rent ratio in Reading, Pennsylvania is about 11.3, meaning it would take roughly 11.3 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 Reading.
Are home prices or rent rising faster in Reading, Pennsylvania?
Both home prices and rent are rising in Reading, up about 11.5% and 4.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Reading, Pennsylvania?
37.4% of households in Reading, Pennsylvania own their home, lower than the Pennsylvania average of 63.0%.
What is the vacancy rate in Reading, Pennsylvania?
The housing vacancy rate in Reading, Pennsylvania is 8.0%, lower than the Pennsylvania average of 9.1%.
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