Published Feb. 23, 2024
Fact Checked
Nathan Alderman
Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. Terms may apply to offers listed on this page.
If you're planning to purchase a home in Pennsylvania, it helps to keep your housing costs as low as possible. You can achieve that goal by snagging the best mortgage rate. Shopping around with multiple mortgage lenders is smart, since lenders have different borrowing requirements.
5 affordable places to live in Pennsylvania
You can find plenty of low-cost housing in Pennsylvania. Here are some cities worth looking at.
1. Pittsburgh
Pittsburgh is known for its exciting food scene and rich local culture, and with a number of Fortune 500 companies, it's loaded with job opportunities. The median home value in Pittsburgh is $125,000, according to Niche. That’s well below the median home value statewide -- $254,015, according to Zillow. At the same time, the average property tax rate in Allegheny County is 2.22% of a home's assessed value (Tax-rates.org). That’s pretty high compared to the average property tax rate statewide, which is just 1.35% of a home's assessed value.
2. Philadelphia
Culture, fine food, and history make Philadelphia an exciting city to call home. The median home value in Philadelphia is $163,000, though keep in mind that if you stay inside city limits (not the suburbs), you may end up with limited square footage. The average property tax rate in Philadelphia County is 0.91% of a home's assessed value -- well below the state average.
3. Erie
Two hours north of Pittsburgh, Erie is home to a large network of parks, and it attracts families and young professionals. The city is also known for the performing arts, including the Erie Philharmonic. The median home value in Erie is $89,100, while the average property tax rate in Erie County is 1.83% of a home's assessed value.
4. Allentown
On the Lehigh River, Allentown has undergone a huge revitalization in recent years. Once known as an industrial town, it's now hailed for its arts, culture, and entertainment. The median home value in Allentown is $131,300, while the average property tax rate in Lehigh County is 1.48%.
5. Munhall
Right outside Pittsburgh, Munhall is known for its bars, restaurants, and parks, and the area is popular among young professionals and retirees alike. The median home value in Munhall is a relatively low $91,100, but the average property tax rate in Allegheny County is a high 2.22% of a home's assessed value.
There are plenty of good reasons to buy a home in Pennsylvania. But before you apply for a mortgage, it helps to work on boosting your credit score and lowering your debt-to-income ratio. Doing so will position you to snag the best mortgage rates statewide.
Mortgage Calculator: How Much House Can I Afford?
Home I Can Afford
{{ getValueResult }}
Total Mortgage Cost
{{ getTotalValue }}
The Ascent's best mortgage lenders
If you want to uncover more about the best mortgage lenders for low rates and fees, our experts have created a shortlist of the top mortgage companies. Some of our experts have even used these lenders themselves to cut their costs.
Our Mortgages Experts
Kimberly is a career writer and editor with more than 30 years' experience. She's a bankruptcy survivor, small business owner, and homeschool parent. In addition to writing for The Motley Fool, she offers content strategy to financial technology startups, owns and manages a 350-writer content agency, and offers pro-bono financial counseling.
Fact Checked
Nathan Alderman
Nathan Alderman has worked with The Motley Fool since 2005, making errors his arch-enemies in a variety of roles including a six-year stint as the dedicated fact-checker for The Motley Fool's premium newsletter services. As The Ascent's Compliance Lead, he makes sure that all the site's information is accurate and up to date, which ensures we always steer readers right and keeps various financial partners happy. A graduate of Northwestern University's Medill School of Journalism, Nathan spends his spare time volunteering for civic causes, writing and podcasting for fun, adoring his wife, and wrangling his two very large young children.
Share This Page
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.
Citigroup is an advertising partner of The Ascent, a Motley Fool company. Kimberly Rotter has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Zillow Group. The Motley Fool has a disclosure policy.