Cotality’s latest report mentioned Allentown as one of the markets still showing relative price strength while much of the country has cooled.

This didn’t surprise me. We’re in deals in the Lehigh Valley pretty consistently, and some of our larger clients have been allocating there for years. It’s never been flashy. It’s just been steady.

The appeal isn’t some hidden growth story. It’s pretty straightforward.

Allentown sits in a durable pocket. Close enough to NJ and NYC to benefit from spillover, but still priced in a way that allows cash flow to work. Rental demand is real. The housing stock is older, which creates legitimate value-add opportunities. And the tenant base isn’t driven purely by short-term trends.

On the 2–20 unit side, transactions are still happening. Buyers are underwriting tighter, but they’re still stepping up when the basis makes sense.

I’m interested in what others are seeing:

Are deals still clearing at numbers that make sense?
Are sellers adjusting or still anchored to peak pricing?
Any specific pockets standing out right now?

Would be good to hear from people actually operating in the Lehigh Valley and use this thread as a resource for anyone looking at the area.