Interest and Opinions on Markets in Eastern PA

Philadelphia, Pennsylvania
Buying & Selling Real Estate
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Interest and Opinions on Markets in Eastern PA

Kyle Hunihan
New to Real Estate · Newtown Square, PA · Member since 2022 · 3 posts · 4 votes

Hello everyone,

I recently relocated to Eastern Pennsylvania, just outside of Philadelphia, and am excited to start looking for my first long-term rental property in the area. I've heard great things about markets like Reading, Allentown, and Lancaster, PA, but would love to hear your insights! Are there other areas I should be considering as well?

To give some context, my budget is around $300K, so any recommendations within that range would be especially helpful.

Looking forward to your advice and suggestions!

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Simon W.Business Member
Real Estate Consultant · Lehigh Valley PA & New York City · Member since 2013 · 1k+ posts · 666 votes
2y

with a 300K budget, i think you are better off with at least 2-unit property. I wouldn't go for single-family house because even if 1 unit is vacant, you are still getting some money in. 

A SFH will be bad if it's vacant which means no money coming in and you have to burn money just keep keep the property.

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  • Simon W.Business Member
    Real Estate Consultant · Lehigh Valley PA & New York City · Member since 2013 · 1k+ posts · 666 votes
    2y
    Quote from @Kyle Hunihan:

    Hello everyone,

    I recently relocated to Eastern Pennsylvania, just outside of Philadelphia, and am excited to start looking for my first long-term rental property in the area. I've heard great things about markets like Reading, Allentown, and Lancaster, PA, but would love to hear your insights! Are there other areas I should be considering as well?

    To give some context, my budget is around $300K, so any recommendations within that range would be especially helpful.

    Looking forward to your advice and suggestions!


     Welcome to BP!

    I am in the Lehigh Valley area. It really depends on what goals you are trying to accomplish and the type of housing you are looking.

    My partner and I have our own construction companies that we work together and we've been helping clients to renovate to either flip or rentals. Sometimes the client will say they want to flip the property but half way through the project, the client will want to make it a rental. 

    For your budget, is that $300K cash or you will be getting a loan? There are a lot of variables.

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  • Kyle Hunihan
    OP
    New to Real Estate · Newtown Square, PA · Member since 2022 · 3 posts · 4 votes
    2y

    Hello, thank you for the reply. I will be getting a loan, looking at single-family or small multifamily targeting long-term rental. 

    0Reply
  • Simon W.Business Member
    Real Estate Consultant · Lehigh Valley PA & New York City · Member since 2013 · 1k+ posts · 666 votes
    2y

    with a 300K budget, i think you are better off with at least 2-unit property. I wouldn't go for single-family house because even if 1 unit is vacant, you are still getting some money in. 

    A SFH will be bad if it's vacant which means no money coming in and you have to burn money just keep keep the property.

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  • Wale LawalBusiness Member
    Real Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes
    2y

    @Kyle Hunihan

    PA offers affordable housing, rising rental demand, and proximity to larger cities like Philadelphia. Allentown, Lancaster, Pottstown, Coatesville, Norristown, Easton, and Levittown have diverse market conditions, with Allentown experiencing steady population growth and revitalization, Lancaster offering a mix of suburban and urban markets, Pottstown offering lower property prices.

    Good luck!

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  • Chris Pelc
    Investor · Philadelphia · Member since 2023 · 104 posts · 46 votes
    2y
    Quote from @Kyle Hunihan:

    Hello everyone,

    I recently relocated to Eastern Pennsylvania, just outside of Philadelphia, and am excited to start looking for my first long-term rental property in the area. I've heard great things about markets like Reading, Allentown, and Lancaster, PA, but would love to hear your insights! Are there other areas I should be considering as well?

    To give some context, my budget is around $300K, so any recommendations within that range would be especially helpful.

    Looking forward to your advice and suggestions!


    Hey Kyle. Welcome to PA! It's also pretty awesome to hear that you are looking to start investing in property over here too. 

    Have you defined any of the nuances to your strategy of a long term rental? For example, are you looking for something that you can add some sweat equity, and break even at the refinance? Or are you simply looking to get into something turnkey, and just stick a tenant in there with good cash flow?

    If you're open to it, i would be happy to talk if you're interested in pinning down some ideas. 

    0Reply
  • Armstrong Maignan
    Realtor · Philadelphia, PA · Member since 2021 · 21 posts · 6 votes
    2y
    Quote from @Kyle Hunihan:

    Hello everyone,

    I recently relocated to Eastern Pennsylvania, just outside of Philadelphia, and am excited to start looking for my first long-term rental property in the area. I've heard great things about markets like Reading, Allentown, and Lancaster, PA, but would love to hear your insights! Are there other areas I should be considering as well?

    To give some context, my budget is around $300K, so any recommendations within that range would be especially helpful.

    Looking forward to your advice and suggestions!

    Congrats on the momentous shift in you and your family's life! At a $300K budget there are definitely some neighborhoods in the mentioned areas that fit your budget. I'm based in the Northeast Philly so I'm more well versed in closer to Philadelphia areas. I think Philadelphia is another area worth considering. It also fits your budget & also I know some of some above 1,300 sqft, good boned, central air, yard space/drive way space having on & off market single & multifamilies in that price range.
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  • Alan AsriantsBusiness Member
    Real Estate Agent · Philadelphia, PA · Member since 2019 · 1k+ posts · 1k+ votes
    2y

    Hey Kyle! I am an agent and investor in the area and would be happy to talk to you about the market! Reach out anytime

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  • Drew Weinhold
    Member since 2025 · 6 posts · 0 votes
    1y

    Hey Kyle, 

    I work for a property management company based in downtown Lancaster and we cover all the surrounding counties. Would love to connect and be a resource for you. 

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