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Spring ahead?
Optimism over falling interest rates and the idea of better residential housing transfers are encouraging indicators for Lehigh Valley and Central Pennsylvania markets.
Lehigh Valley renters becoming cost burdened
The Lehigh Valley’s median renter qualifies as cost burdened when it comes to housing these days, as affordability plummets. Households are considered cost burdened when they spend more than 30% of their income on rent, mortgage and other housing needs.
Apartment rents in Allentown up 5% over last year
Rent growth in Allentown has slowed considerably, although it still stands at 5% year over year.
Light industrial rents skyrocket 30% in Northeast, but the Lehigh Valley may benefit
Rent prices for logistics facilities in the Northeast U.S. Corridor are skyrocketing, but that may be good news for developers and property managers in the Lehigh Valley and Central Pennsylvania.
More than 6M households missed their rent or mortgage payment in September
Persistent layoffs are slowing momentum in the labor market, which bodes poorly for the broader U.S. recovery as millions of out-of-work Americans delay their mortgage and rent payments.
