Rent vs Buy in Allentown, PA
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Rent and buy are roughly balanced in Allentown, PA
Price-to-rent ratio is 17.5 (under 15 favors buying, over 21 favors renting). Renting costs $1,507/mo; owning runs about $2,356/mo — $849/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.95% rate) | $1,672 |
| Property tax | $289 |
| Home insurance | $132 |
| Maintenance | $263 |
| Total to own | $2,356 |
| Average 2BR rent | $1,507 |
Based on a median home value of $315,675 with a $63,135 down payment. Owning also builds equity over time, which a monthly comparison doesn't capture. Estimates use national averages for taxes, insurance and maintenance — your actual costs will vary.