Allentown's housing stock is inseparable from its history. The borough is largely built out at just over half a square mile, and much of its residential inventory consists of older, architecturally significant single-family homes, many dating from the 18th and 19th centuries and protected within the historic district. Buyers here are often drawn specifically to period homes with original detail, though the borough also includes some more modest 20th-century houses. The surrounding Upper Freehold Township, served by the same regional school district, offers larger lots, newer construction, and horse farms for buyers who want the Allentown school and community identity with more acreage than the compact borough itself provides.

Allentown is small enough that it reads as one historic village rather than a set of distinct neighborhoods. The core around Main Street and the mill holds the borough's oldest homes and its landmark buildings, and it is where the town's small commercial and civic life concentrates. Residential streets extend a few blocks in each direction, transitioning quickly from the dense historic center to the agricultural land of Upper Freehold Township. The borough's compact footprint means nearly every home is within walking distance of the historic district, the parks, and the creek, while the township beyond provides the open space and larger properties that many Allentown-area buyers seek.

Allentown offers a quiet, historically rooted lifestyle. The walkable core invites strolling past 18th- and 19th-century homes, dining at local restaurants, and browsing independent shops, and the preserved Old Mill and historic district give the town a distinct sense of place. Community life centers on the borough's parks, which provide fishing and water access along the creeks, a gazebo, courts, and playgrounds. The surrounding countryside supports an equestrian culture, with the Horse Park of New Jersey and numerous farms nearby. The overall pace is small-town and unhurried, while Princeton and Trenton's cultural and employment offerings sit within a short drive to the west.

Students in Allentown are served by the Upper Freehold Regional School District, a pre-kindergarten through twelfth-grade district that serves both Allentown Borough and Upper Freehold Township. The district operates three schools, including Allentown High School, whose district offices are located on High Street in Allentown. The high school is noted for its agricultural science program, reflecting the area's farming heritage. This shared regional district ties the compact borough to the larger, more rural township, giving Allentown families a single school pathway from elementary grades through graduation.

Allentown sits at the junction of several county and state roads in western Monmouth County. County Route 539, also known as Trenton-Forked River Road, runs through the borough and is the main local north-south route, intersecting with Route 524 and Route 526 in town. Nearby Interstate 195 provides direct highway access westward toward Trenton and east toward the Jersey Shore, and it connects to the New Jersey Turnpike, placing Allentown within reach of the Princeton and Trenton areas and the broader central New Jersey corridor. The borough's location bordering Mercer County also puts Princeton's rail service a short drive away for commuters.

Allentown's recreation is anchored by its borough parks, which offer a gazebo, a boat launch area, basketball and pickleball courts, and fishing and water access along the local creeks, including Doctors Creek. The borough's compact, walkable historic district is itself a draw for strolling and sightseeing, with the Allentown Mill and hundreds of preserved early homes. In the surrounding Upper Freehold area, the Horse Park of New Jersey provides a venue for equestrian events at the local, regional, and national levels, and the open farmland supports riding and other rural pastimes. County and state parks in the broader Monmouth and Mercer region extend hiking and outdoor options within a short drive.