According to police, the shooting happened at about 5:50 a.m. Tuesday inside a first-floor apartment on W. Windsor Street.
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"These folks were just in their apartment going about their business this morning when this guy broke in and confronted them with a firearm," said Reading Police Chief Richard Tornielli. "Unfortunately, he shot and killed a young man and this female was also shot."
Police said the woman was shot in the leg and the man was shot multiple times. The woman was taken to an area hospital with non-life threatening injuries.
Neighbors said the woman lived at the home with her three children.
Tornielli said the suspect, 39-year-old Melvin Ojeda-Rodriguez, had a previous relationship with the female victim.
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"The suspect attempted to kick in the door to get into the apartment and then broke into the apartment through a window," Tornielli said.
Ojeda-Rodriguez turned himself in to authorities and was taken into custody without incident. He is expected to be formally charged later today.
Police have not yet identified the man who died.
Neighbors said they were shocked to see the home surrounded by crime scene tape again, as a woman was killed at the home on Christmas several years ago.