Top Rental Markets in Pennsylvania

The top rental markets in Pennsylvania are Philadelphia, Pittsburgh, Reading, and Allentown.

The TurboTenant Report includes analysis of the average number of leads per property, the average number of days on market, average rent price, median sale price, median income, security deposit trends and livability score.  

Pennsylvania Rental Trends: 

Pennsylvania has the sixth largest economy in the United States and is home to some of the largest public and private companies like Hershey’s. With a great culture and strategic location to other states, Pennsylvania has great property investment opportunities for landlords evident in the positive numbers coming from this state. Here are some highlights from the top rental markets in the Keystone State.

Days on Market: 

The cities with the lowest number of days on market are Reading and Allentown tied at 11 days which is close to the national average at around 15 days; Pittsburgh holds the highest number of days on market at only 21.

Leads

The top three towns for the largest amount of leads per listing all surpass the national average of 38 with the top two over 100. Here they are:

  • Reading – 282 leads per listing
  • Allentown – 114 leads per listing
  • Philadelphia – 62 leads per listing

Average Rent: (2 bedroom listings)

With the national average rent at $1,207 for a two-bedroom, Reading comes below that with the lowest average rent of $989 for a two-bedroom compared to the highest rent in Pennsylvania at $1,669 in Philadelphia. 

Median Home Sale Price:

According to data from Redfin, which is a national real estate brokerage company, the national median home sale price sits at $306,400. Pennsylvania’s highest median sale price comes below that at $210,000 in Philadelphia with its lowest median sale price far lower than the national average at $130,000 in Reading.

Median Income: 

Pennsylvania’s median income rings in at $50,030 – more than the national average at $48,500.

Security Deposit Trends: 

Security deposits have both risen and fallen, but mostly increased in Pennsylvania cities between 2018 and 2019. With the largest being an increase of 14.81% in Reading at $775, and the largest decrease in Philadelphia at -8.03% with the current average at around $1,375 – which is above the national average for security deposits which is around $1,200.

Livability Score: 

All of the Pennsylvania cities had a livability score 55 or higher with the highest being Pittsburgh at 72!

Please visit here for our full methodology.

Whether you’ve found the best investment property in these top rental markets, or somewhere else, TurboTenant can help streamline your rental process with easy and free online rental applications as well as thorough tenant screening so you can find the best renter for your property.

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Sarnen Steinbarth

CEO & Founder TurboTenant, Inc

Sarnen has been investing in rental property since the age of 19. He saw firsthand the need for an easy-to-use and affordable technology backed solution geared towards independent landlords. In October of 2015, he launched TurboTenant. Today TurboTenant serves 200,000+ landlords and is still dedicated to making the rental process easy, smooth, and hassle-free. Sarnen is a regular contributor on Forbes and Bigger Pockets and has firmly positioned himself as thought leader in the real estate and proptech space.

Guidelines for using these data.

You are welcome to use any of the data in this report for your own purposes, we just kindly ask that you properly cite the source. You can view our methodology for our TurboTenant Reports here.  

An example citing: According to a report by TurboTenant, an online property management software company….

If you have data requirements that are outside the scope of this article, please email press@turbotenant.com. We have a plethora of data and are happy to supply another data set if it is available. 

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