ALLENTOWN, Pa. - The Lehigh Valley has seen a “massive spike” in per month rent costs, according to Becky Bradley, executive director of the Lehigh Valley Planning Commission, which tracks residential construction in the region.
Bradley explained that the Valley’s population has been steadily growing over the last 60 years, but the housing downturn in the early 2000s affected residential building. So, population growth outpaced housing growth.
Bradley pointed out that the pandemic and influx of people moving to the area only made the home shortage and pricing issues more severe.
“We have people moving in from out of the area that are making more money than people that live here and work in the Lehigh Valley. So, they're able to buy things at a higher price,” said Bradley. “And that's creating real issues for people, especially in the lower- and middle-income ranges, to be able to find housing that they can afford.”
Bradley said the shortage affects housing units priced for various income levels, but explained that there are plans to increase the number of homes in the valley.
“The private sector is responding by increasing the number of units in the market, which will help with pricing in the long run. But it's going to take 2,3,4,5 years before those units become available,” she said.