Reading, PA
The numbers that matter most
What an investor checks first when sizing up a new metro — affordability ratio, rent vs income, cap rate proxy, and where the market is moving. Each metric shown vs. state and national medians for instant context.
moderate
Price to income
3.09×
The single most-cited 'is this market still cheap' check. Below 3× and you're in an affordability tailwind.
- vs Pennsylvania
- 3.03×
- vs U.S.
- 3.43×-0.34
Benchmark
ACS median home value ÷ median HHI
comfortable
Rent to income
24.3%
What share of a typical household's income goes to rent. Below 30% means tenants can absorb modest rent increases.
- vs Pennsylvania
- 22.4%
- vs U.S.
- 23.3%
Benchmark
(HUD FMR 2BR × 12) ÷ median HHI
deal-by-deal
Cap rate proxy
5.13%
Rough first-pass yield assuming a 35% expense ratio. Not an underwriting number — a 'is this even worth modeling' filter.
- vs Pennsylvania
- 4.86%+0.27
- vs U.S.
- 4.35%+0.78
Benchmark
(FMR 2BR × 12 × 0.65) ÷ ACS median home value
steady
Net migration
+0.10%
Forward-looking demand signal. Positive net migration drives rent growth and absorbs new supply.
- vs Pennsylvania
- 0.09%+0.02
- vs U.S.
- 0.03%+0.07
Benchmark
IRS net migration ÷ population
tight
Permit pipeline
0.91
permits per 1,000 residents
Forward-supply indicator. Above ~5 means the metro is building meaningfully relative to its size; below 2 means supply is tight.
- vs Pennsylvania
- 2.17
- vs U.S.
- 3.52
Benchmark
Census BPS permits TTM ÷ population × 1,000
healthy
Unemployment
3.7%
Tighter unemployment means higher wages, more rental demand, lower vacancy.
- vs Pennsylvania
- 3.6%
- vs U.S.
- 3.9%-0.2
Benchmark
BLS LAUS, latest month
Where prices are and where they've been
5-year price appreciation
+62.7%
homeValues.yearOverYear
+8.4%
Median home value
$239,700
The rent ladder
| Bedroom | Monthly | Annual | % of median HHI |
|---|---|---|---|
| 1 BR | $1,237 | $14,844 | 19.1% |
| 2 BR | $1,575 | $18,900 | 24.3% |
| 3 BR | $1,937 | $23,244 | 29.9% |
Labor market direction
Unemployment
3.7%
Median household income
$77,684
What's being built
Total TTM
391
+87.1% YoY
Single-family
262
2–4 unit
32
5+ unit
97
All 1 counties, ranked by population
| County | Population | Home value | Median HHI | Permits TTM | YoY |
|---|---|---|---|---|---|
| Berks County | 428,483 | $239,700 | $77,684 | 391 | +87.1% |
Similar metros nationally
| Metro | Pop | Med HHI | P/I | Cap proxy | HPI 5y | Permits/1k | Unemp |
|---|---|---|---|---|---|---|---|
| ★Reading | 428,483 | $77,684 | 3.09× | 5.13% | +62.7% | 0.91 | 3.7% |
| Salem, OR | 433,415 | $76,010 | — | — | +40.0% | — | 4.9% |
| Savannah, GA | 406,575 | $74,632 | — | — | +72.8% | — | 2.8% |
| York-Hanover, PA | 457,051 | $82,238 | — | — | +53.4% | — | 3.4% |
| Salisbury, MD-DE | 421,982 | $69,592 | — | — | +59.5% | — | 3.9% |
| Peoria, IL | 401,702 | $70,872 | — | — | +44.9% | — | 5.6% |
Where people are moving in from
Net migration
+438
+0.10% of population
| Origin county | Tax returns |
|---|---|
| Montgomery County, PA | 1,125 |
| Lancaster County, PA | 652 |
| Lehigh County, PA | 568 |
| Chester County, PA | 494 |
| Bronx County, NY | 347 |
| Philadelphia County, PA | 336 |
Who lives in Reading
- Median age
- 40
- Bachelor's+
- 27.2%
- Owner-occupancy
- 71.0%
- Vacancy rate
- 5.5%
- Rent burdened (30%+)
- 46.5%
- Median household income
- $77,684
This page shows federally sourced data. A full editorial analysis with charts and investment commentary is in progress.