Quick facts: Reading, PA

Quick Facts

101.5
Cost of Living
above US average
94,858
Population
27.64
Crime Rate per 1000
above US average
$42,852
Median Income
below US average
$266,250
Median House Price
above US average
$1511
Average Rent
above US average
25%
Poverty Rate
above US average
5.2%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $42,852.

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Income Needed to Buy

βœ— Stretch
$84k/year
Based on $266,250 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $84k vs median $42,852
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Income Needed to Rent

⚠ Stretch
$65k/year
Based on $1511/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $65k vs median $42,852
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Reading, PA

Reading, Pennsylvania, is a vibrant city located in Berks County, known for its rich industrial history and cultural diversity. It is situated in the southeastern part of the state, approximately 70 miles west of Philadelphia. Reading is often recognized for its historical significance, particularly in the development of the American railroad system, which played a crucial role in its growth in the 19th century. The city is home to several notable landmarks, including the Reading Pagoda, a Japanese-style structure offering panoramic views of the city and surrounding mountains. Additionally, Reading boasts cultural attractions like the Berks Museum of Arts and the GoggleWorks Center for the Arts, which fosters creativity through art education and exhibitions. Reading is also known for its outdoor activities, with numerous parks and recreational areas, such as the Reading Riverwalk along the Schuylkill River, ideal for walking, jogging, or cycling. The city hosts diverse events throughout the year, including the Reading Fair and various festivals celebrating its multicultural community. With a growing economy, Reading is making strides towards revitalization, making it an intriguing blend of history and modern development.

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