Cost of Living,
Allentown's Real Estate Market
Allentown-Bethlehem-Easton Metro Area
Profile: Mid-sized city complex Location: East-central Pennsylvania, along I-78 20 miles west of the New Jersey border Elevation: 264 Time zone: Eastern Standard Time
|Strategic location||Economic cycles|
|Affordable housing||Some unattractive areas|
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The cities of Allentown, Bethlehem, and Easton have a strong industrial and working class heritage, anchored by the enormous Bethlehem Steel works. The gigantic 500-acre mill complex, abandoned 20 years ago, and is still a formidable presence just south of downtown Bethlehem, and is likely to evolve at least in part to a preserved national park site celebrating our industrial heritage. The rest of the area is a center for mostly old-economy manufacturing with the Lucent Technologies spinoff Agere adding a not-too-prosperous high tech element. Binney & Smith, known worldwide as the maker of Crayola crayons, has its factory in the smaller Easton east along the Lehigh River.
But these legacy industries are no longer the whole story. The area is strategically located, 90 miles west of the New York area and even closer to many prosperous and busy areas in New Jersey. Combined with higher education facilities in Bethlehem, notably Lehigh University, the area is starting to draw people to the city seeking a slower pace of life, lower costs, and a distinct city with a strong sense of place. Bethlehem brought workers into the area from central Europe, and the area has a distinct German and Moravian architecture and feel, especially Bethlehem but also in Easton to a lesser degree. Downtown Bethlehem is clean, attractive and walkable with small businesses, historic interest, some arts amenities, and a minor college town feel. Stately older homes lie just east of downtown, with more rural and attractive homes further east and north. Allentown is the largest and plainest of the three cities, and there are large numbers of good older homes available to be fixed up or modified. Cost of living has risen to 109 but homes average $243,400 with a Home Price Ratio of 4.8 – attractive for an area so close to more expensive areas. There is some commuter bus service today in the New York direction, and we expect these services to expand into rail service some day. As a combined result of all of these forces, the area is attracting more small businesses, individual entrepreneurs and telecommuters needing the big cities only occasionally. As reflected in the ranking, we feel this area is on an upward path.
The three cities are located about 12 miles apart in the Lehigh River Valley between mountain ridges running southwest to northeast. The climate is modified continental with moderate temperatures and dependable precipitation. Summers are hot and can be uncomfortably humid. Winters are comparatively mild with the numerous mountain ridges providing some shelter from cold air and winds from the north. Temperatures above 100[dg]F or below 0[dg]F are infrequent. Mountain effects make winters warmer and more comfortable than those of Philadelphia, 50 miles to the south. Summer thunderstorms are often heavy. Snowfall is variable, and cool air trapped in the valley can cause freezing rain. Snowmelt and spring rains create a flood threat. First freeze is mid-October, the last is late April.
Interesting Facts about the Allentown-Bethlehem-Easton, Pennsylvania Metro Area
As of 2014, Allentown-Bethlehem-Easton Metro Area's population is 821,273 people. Since 2000, it has had a population growth of 10.92 percent.--------------------
The median home cost in Allentown-Bethlehem-Easton Metro Area is $164,600. Home appreciation the last year has been 0.30 percent.--------------------
Compared to the rest of the country, Allentown-Bethlehem-Easton Metro Area's cost of living is 0.30% Higher than the U.S. average.--------------------
Allentown-Bethlehem-Easton Metro Area public schools spend $14,632 per student. The average school expenditure in the U.S. is $12,435. There are about 16.3 students per teacher in Allentown-Bethlehem-Easton Metro Area.--------------------
The unemployment rate in Allentown-Bethlehem-Easton Metro Area is 5.50 percent(U.S. avg. is 6.30%). Recent job growth is Positive. Allentown-Bethlehem-Easton Metro Area jobs have Increased by 0.53 percent.
Ranked #15 America's Best and Worst Cities for Crime (Large Metro Areas)
Ranked #17 Best Cities for Teleworking - Medium Metro Areas
Ranked #69 Drought-Riskiest Cities
Ranked #73 2005 High Gas Prices
Ranked #79 High Gas Prices - Which Cities are Hit the Hardest?
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Average Commute time is 27 minutes. The National Average is 25 minutes.--------------------
Allentown-Bethlehem-Easton Metro Area's Real Estate Market (click to see properties)
• Newly Listed Homes
• Most Expensive Listing
• Million Dollar Houses
• Homes from $750,001 to $1,000,000
• Homes from $500,001 to $750,000
• Homes from $250,000 to $500,000
• Homes under $250,000
• Median Priced Homes
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