Side-by-side comparison of Reading, PA and Erie, PA — cap rates, rent, prices, and investment metrics.
Cash flow: Reading has the edge with an estimated cap rate of 5.67% compared to Erie's 5.07%. Neither city passes the 1% rule outright, so deal sourcing and value-add strategies become more important. Median home prices are $145,000 in Reading vs $135,000 in Erie, while rents come in at $1,020/mo and $880/mo respectively.
Growth & appreciation: Reading is growing faster at 0.1% annually, while Erie is losing population. Reading leads on home value appreciation at 2.2% per year.
Costs & risk: Property taxes are 1.42% in Reading vs 1.4% in Erie. Vacancy rates of 6.5% and 7% are mixed — Reading has the tighter rental market.
Bottom line: Reading edges out Erie on most key metrics. With a 5.67% cap rate, it offers solid cash flow potential. Use our free calculators to model specific deals in Reading or Erie.