Mortgage payment estimates, closing cost breakdowns, and homebuying data for Reading, Pennsylvania.
Median Home Price
$135K
Population
95K
Avg Monthly Rent
$1,020
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 Reading.
Reading vs Pennsylvania Median
The median home price in Reading is $135,000, which is 52% below the Pennsylvania state median of $280,000.
Mortgage Calculator — Reading, PA
Pre-filled with Reading median home price and Pennsylvania tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $135K home using Pennsylvania's 1.36% tax rate and $1,400/yr insurance.
5% Down
$1,155/mo
Down: $6,750
Loan: $128K
P&I: $811
Tax: $153
Insurance: $117
PMI: $75
10% Down
$1,109/mo
Down: $13,500
Loan: $122K
P&I: $768
Tax: $153
Insurance: $117
PMI: $71
20% Down (No PMI)
$952/mo
Down: $27,000
Loan: $108K
P&I: $683
Tax: $153
Insurance: $117
Income needed (28% rule): $41K/year with 20% down, $48K/year with 10% down.
Rent vs Buy in Reading
Rent
$1,020/mo
vs
Buy (10% down)
$1,109/mo
Price-to-rent ratio: 11.0 — With a ratio under 15, buying in Reading is likely more cost-effective than renting if you plan to stay 3+ years. The monthly cost of buying is $89 more than renting, but you build equity with every payment.
The median home price in Reading is $135,000, 52% below the Pennsylvania state median of $280,000. With a population of 95,112, Reading is a smaller market 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 $135,000 home in Reading would carry roughly $153/month in property taxes. Homeowners insurance in Pennsylvania runs approximately $1,400 per year. This is within the normal range nationally.
Average rent in Reading is $1,020/month. With a price-to-rent ratio under 15, buying may be more cost-effective than renting in Reading over the long term.
Reading 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 Reading.