The Lehigh Valley rental market has stood the test of time through job and population growth. Situated only a couple of hours from two of the biggest markets, New York and Philadelphia, the Lehigh Valley continued to be a desirable place to live. Taxes are low comparatively, which is why many are choosing to live a higher quality of life in the Lehigh Valley. While most areas in the country are losing population to those moving to metropolises like New York and Los Angeles, the Lehigh Valley has continued to grow at an average of nearly 1% a year. It is projected that there will be nearly one million people living in Lehigh Valley by 2040.This means everyday new jobs are being created and more people are looking for places to live. For homeowners of multifamily properties, this is a dream come true.
Within the Lehigh Valley, the biggest cities like Allentown, Easton and Bethlehem are investing billions into new infrastructure and its communities yearly.Companies like Amazon and Fedex have large warehouses in the Lehigh Valley area because of the close proximity to New York, Philadelphia and the New England area. A wave of qualified working professionals and gentrification has swept into many of these communities. If you are looking to invest in an area that has enormous growth potential, the Lehigh Valley is your destination to invest.
The Lehigh Valley is also home to some of the nation’s best universities, such as Lehigh University in Bethlehem, Lafayette College in Easton and Muhlenberg College in Allentown. Not only does this create a strong rental market for students, but the colleges themselves draw in a large amount of trained professionals who end up staying here for life.