Reading Pennsylvania Residential Rent and Rental Statistics
The median monthly gross residential rent in Reading, PA (the Reading metro area) was $936 in 2019 according to the Census ACS survey.1 Average gross rent in Reading was $926 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Reading median and average rent data will be released in September of 2021.
Data is also available below for Reading rental vacancy rates, Reading rent as a percent of median income and the fraction of renters in Reading.
Real Gross Rent in Reading Pennsylvania (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Pennsylvania Median Gross Rent | $951 | +0.74% | +3.03% |
| Reading, PA Median Gross Rent | $936 | +1.19% | -1.16% |
Reading, PA Real Gross Rent Trends
Median gross rent for Reading peaked in real terms in 2016 at $947 and is now $11 (1.16%) lower. Average gross rent for Reading peaked in real terms in 2016 at $947 and is now $21 (2.22%) lower.
Real Gross Rent in Reading: Reading PA Median, Reading PA Average, Pennsylvania Median, US Median
Real Gross Rent History for Reading
| Date | US Median |
Pennsylvania Median |
Reading, PA Median |
Reading, PA Average |
|---|---|---|---|---|
| 2019 | $1,097 | $951 | $936 | $926 |
| 2018 | $1,077 | $944 | $925 | $940 |
| 2017 | $1,043 | $921 | $891 | $927 |
| 2016 | $1,027 | $923 | $947 | $947 |
| 2015 | $1,017 | $921 | $918 | $877 |
| 2014 | $986 | $895 | $912 | $889 |
| 2013 | $953 | $872 | $870 | $850 |
| 2012 | $940 | $849 | $869 | $866 |
| 2011 | $941 | $849 | $881 | $877 |
| 2010 | $955 | $853 | $877 | $843 |
| 2009 | $960 | $841 | $890 | $867 |
| 2007 | $927 | $805 | $822 | $808 |
| 2005 | $910 | $809 | $788 | $769 |
Reading Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Reading Pennsylvania was 5.36% according to Census ACS data.
Rental Vacancy Rate in Reading Pennsylvania
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Pennsylvania | 4.87% | -0.42% | -0.90% |
| Reading, PA | 5.36% | -3.13% | -1.58% |
Trends in Reading, PA Rental Vacancy Rate
The rental vacancy rate in Reading peaked in 2018 at 8.49%. Since then it has fallen by 3.13% to 5.36%. Data records for this series originated in 2005.
Rental Vacancy Rate: Reading PA, Pennsylvania, US
Historical Rental Vacancy Rate data for Reading
| Date | US | Pennsylvania | Reading, PA |
|---|---|---|---|
| 2019 | 5.97% | 4.87% | 5.36% |
| 2018 | 6.15% | 5.29% | 8.49% |
| 2017 | 6.18% | 5.84% | 7.20% |
| 2016 | 5.89% | 5.77% | 6.94% |
| 2015 | 5.85% | 5.77% | 8.04% |
| 2014 | 6.32% | 6.40% | 8.35% |
| 2013 | 6.49% | 5.78% | 4.57% |
| 2012 | 6.77% | 5.88% | 7.40% |
| 2011 | 7.40% | 6.13% | 5.60% |
| 2010 | 8.17% | 6.47% | 4.13% |
| 2009 | 8.43% | 6.80% | 7.55% |
| 2007 | 7.87% | 7.34% | 6.56% |
| 2005 | 7.74% | 7.94% | 7.56% |
Rent as a Fraction of Income
Using median household income data for Reading, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Reading, median monthly gross rent as a fraction of median household income was 16.59% in 2019 according to the ACS.
Reading Pennsylvania Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Pennsylvania | 17.98% | -0.28% | -0.60% |
| Reading, PA | 16.59% | -0.85% | -1.71% |
Trends in Reading, PA Rent as a Fraction of Income
The fraction of median Reading household income required to pay median monthly gross rent peaked in 2012 (relative to the 2005 series origin) at 18.85%. Since then it has fallen by 2.26% to 16.59%.
Fraction of Income towards Rent: Reading PA, Pennsylvania, US
Historical Data for Annual Rent as a Fraction of Income in Reading Pennsylvania
| Date | US | Pennsylvania | Reading, PA |
|---|---|---|---|
| 2019 | 20.03% | 17.98% | 16.59% |
| 2018 | 20.50% | 18.26% | 17.43% |
| 2017 | 20.13% | 18.10% | 16.98% |
| 2016 | 20.43% | 18.58% | 18.30% |
| 2015 | 20.63% | 18.70% | 18.50% |
| 2014 | 20.89% | 19.12% | 18.49% |
| 2013 | 20.78% | 19.11% | 17.69% |
| 2012 | 20.65% | 18.69% | 18.85% |
| 2011 | 20.70% | 18.78% | 18.72% |
| 2010 | 20.50% | 18.58% | 18.20% |
| 2009 | 20.12% | 17.88% | 17.52% |
| 2007 | 18.66% | 16.92% | 15.91% |
| 2005 | 18.89% | 17.43% | 14.86% |
Renter Fraction in Reading Pennsylvania
You can calculate the renter fraction in Reading in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Reading as a fraction of total Reading households. In 2019 30.37% of households were renters according to Census ACS data.
Reading Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Pennsylvania | 31.59% | +0.19% | +0.09% |
| Reading, PA | 30.37% | +1.72% | +1.54% |
Trends in the Reading, PA Renter Fraction
At 30.37%, the 2019 household based renter fraction in Reading was at its highest level. The origin year for the series is 2005.
Fraction of Renting Households: Reading PA, Pennsylvania, US
History of Reading Renter Fraction
| Date | US | Pennsylvania | Reading, PA |
|---|---|---|---|
| 2019 | 35.89% | 31.59% | 30.37% |
| 2018 | 36.05% | 31.40% | 28.65% |
| 2017 | 36.13% | 31.70% | 27.74% |
| 2016 | 36.88% | 31.50% | 28.83% |
| 2015 | 36.97% | 31.28% | 28.44% |
| 2014 | 36.90% | 31.17% | 29.94% |
| 2013 | 36.50% | 31.05% | 26.38% |
| 2012 | 36.09% | 31.09% | 29.45% |
| 2011 | 35.42% | 30.51% | 27.83% |
| 2010 | 34.65% | 29.87% | 28.74% |
| 2009 | 34.13% | 29.48% | 26.45% |
| 2007 | 32.80% | 28.36% | 24.30% |
| 2005 | 33.10% | 28.52% | 25.47% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
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