Mortgage Calculator & Closing Costs: Allentown, PA
Mortgage payment estimates, closing cost breakdowns, and homebuying data for Allentown, Pennsylvania.
Median Home Price
$245K
Population
126K
Avg Monthly Rent
$1,280
Property Tax Rate
1.36% *
* Property tax shown is the Pennsylvania state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Allentown.
Allentown vs Pennsylvania Median
The median home price in Allentown is $245,000, which is 13% below the Pennsylvania state median of $280,000.
Mortgage Calculator — Allentown, PA
Pre-filled with Allentown median home price and Pennsylvania tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $245K home using Pennsylvania's 1.36% tax rate and $1,400/yr insurance.
5% Down
$2,001/mo
Down: $12,250
Loan: $233K
P&I: $1,471
Tax: $278
Insurance: $117
PMI: $136
10% Down
$1,917/mo
Down: $24,500
Loan: $221K
P&I: $1,394
Tax: $278
Insurance: $117
PMI: $129
20% Down (No PMI)
$1,633/mo
Down: $49,000
Loan: $196K
P&I: $1,239
Tax: $278
Insurance: $117
Income needed (28% rule): $70K/year with 20% down, $82K/year with 10% down.
Rent vs Buy in Allentown
Rent
$1,280/mo
vs
Buy (10% down)
$1,917/mo
Price-to-rent ratio: 16.0 — A ratio between 15-20 means the rent vs buy decision in Allentown depends heavily on your timeline. If you plan to stay 5+ years, buying likely wins. For shorter stays, renting preserves flexibility.
The median home price in Allentown is $245,000, 13% below the Pennsylvania state median of $280,000. With a population of 126,092, Allentown is a mid-size city where home prices tend to be more accessible than in many parts of Pennsylvania.
Property taxes in Pennsylvania average 1.36% annually. This moderate property tax rate means a $245,000 home in Allentown would carry roughly $278/month in property taxes. Homeowners insurance in Pennsylvania runs approximately $1,400 per year. This is within the normal range nationally.
Average rent in Allentown is $1,280/month. The price-to-rent ratio in Allentown is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Allentown offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with Pennsylvania's PHFA Keystone Advantage program.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Allentown.