Rent vs Buy in Pennsylvania
Compare 13 cities across Pennsylvania. Find out whether renting or buying makes more financial sense in your area.
13cities analyzed
Avg Home:$288,454
Avg Rent:$1,500/mo
Avg Price/Rent:16.1
Pennsylvania Housing Market Summary
13
Cities Analyzed
0
Favor Buying
11
Favor Renting
2
Toss-Up
Across Pennsylvania's 13 analyzed cities, the majority (11 cities) favor renting over buying. High home prices relative to rents make renting more financially attractive in much of Pennsylvania.
The average home price in Pennsylvania is $288,454, with average rents at $1,500/month. This gives an average price-to-rent ratio of 16.1.
$Most Affordable Cities
$$Most Expensive Cities
All Pennsylvania Cities
Sorted by population. Click any city for detailed analysis.
| City | Median Price | Median Rent | Price/Rent | Break-even | Verdict |
|---|---|---|---|---|---|
| Philadelphia | $228,588.5 | $1,703.54 | 11.2 | N/A | Toss-up |
| Pittsburgh | $231,936.92 | $1,529.97 | 12.6 | N/A | Rent |
| Reading | $299,902.37 | $1,495.72 | 16.7 | N/A | Rent |
| Allentown | $350,229.07 | $1,777.62 | 16.4 | N/A | Rent |
| Erie | $211,721.11 | $1,046.5 | 16.9 | N/A | Rent |
| Bethlehem | $356,565.23 | $1,749.01 | 17.0 | N/A | Rent |
| Lancaster | $372,150.62 | $1,454.9 | 21.3 | N/A | Rent |
| Scranton | $227,995.8 | $1,313.14 | 14.5 | N/A | Toss-up |
| Harrisburg | $269,643.21 | $1,341.09 | 16.8 | N/A | Rent |
| York | $297,755.44 | $1,279.64 | 19.4 | N/A | Rent |
| Wilkes-Barre | $213,661.16 | $1,290.56 | 13.8 | N/A | Rent |
| Chester | $353,605.58 | $1,695.57 | 17.4 | N/A | Rent |
| State College | $336,145.22 | $1,829.17 | 15.3 | N/A | Rent |
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