Average Rent in Lower Merion, PA

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Current Versus Historical Lower Merion, PA Rents

Lower Merion rentals average $1,350 for a studio rental to $5,500 for a 4-bedroom rental. The median price of all currently available listings is $2,380, or roughly $2 per square feet.
For the apartment units and housing in November 2024, median rents have been roughly unchanged over the last year. Studio rentals prices have increased by $0 (0.00%) year-over-year from $2,120 to $2,120. 1-bedroom rentals prices have increased by $0 (0.00%) year-over-year from $2,530 to $2,530. 2-bedroom rentals prices have increased by $0 (0.00%) year-over-year from $5,635 to $5,635. 3-bedroom rentals prices have decreased by $700 (-17.50%) year-over-year from $4,000 to $3,300. 4-bedroom rentals prices have decreased by $508 (-10.80%) year-over-year from $4,708 to $4,200. Note that this figure includes all active and rented listings throughout the month.
Month-to-month, seasonality might have a bigger impact than overall trend price changes. Studio rents have gone down by 0.00% this month. 1-bedroom rents have gone down by 0.00% this month. 2-bedroom rents have gone down by 0.00% this month. 3-bedroom rents have gone down by 15.72% this month. 4-bedroom rents have gone up by 6.55% this month.
Beds
Price / Sqft
Nov 2024 Rent 1 Yr Ago Rent (% +/-) 3 Yr Ago Rent (% +/-)
Studio $3.08 $2,120 $2,120 (0.00%) $2,120 (0.00%)
1 BR $2.64 $2,530 $2,530 (0.00%) $2,561 (-1.20%)
2 BR $2.32 $5,635 $5,635 (0.00%) $5,635 (0.00%)
3 BR $1.96 $3,300 $4,000 (-17.50%) $3,345 (-1.35%)
4+ BR $2.01 $4,200 $4,708 (-10.80%) $4,917 (-14.58%)

Historical Rents in Lower Merion, PA

Studio
1 Bed
2 Bed
3 Bed
4 Bed

Top Cities Near Lower Merion

There are a total of 1 cities nearby Lower Merion. The average rent in Lower Merion is currently $1,800 per month. Only one city nearby has an average rent lower than that. Our records show that Philadelphia, PA, with an average rent of $1,800, is the most affordable city nearby. In contrast, the most expensive city near Lower Merion, PA is Philadelphia, PA. Monthly rents here are on average $1,800 per month.

Let's compare Lower Merion, PA's rent against other top cities nearby by bedroom size. Typically, rent for studios in Lower Merion, PA is 8.33% more expensive than other cities nearby. One bedrooms are about 8.59% more expensive. Two bedrooms in Lower Merion, PA are about 24.37% more expensive. Finally, rent for three bedrooms are about 37.66% more expensive. Want more information? Check out the top 1 cities near Lower Merion, PA in the following chart.
City Studio 1 Bed 2 Bed All
Philadelphia, PA $1,238 $1,691 $1,800 $1,800

Top Neighborhoods Near Lower Merion

There are a total of 25 neighborhoods in or near Lower Merion. Some of these neighborhoods include Cobbs Creek, Kingsessing, and Germantown. We've included all of these top 25 neighborhoods in or near Lower Merion, PA in the following chart.

The average rent for these 25 neighborhoods in or near Lower Merion, PA is currently around $1,850 per month. A total of 24 neighborhoods have a lower average rent. Meaning, only a single neighborhood out of these neighborhoods has a higher average rent. Out of all the neighborhoods in or near Lower Merion, Cobbs Creek has the most affordable average rent at $1,351 per month. Whereas, at $2,395 average rent per month, Logan Square is the most expensive neighborhood in or near Lower Merion. View the following chart for more information.
Neighborhood Studio 1 Bed 2 Bed All
Cobbs Creek, Philadelphia, PA N/A $1,185 $1,300 $1,351
Kingsessing, Philadelphia, PA N/A $1,213 $1,450 $1,413
Germantown, Philadelphia, PA $985 $1,225 $1,700 $1,450
Roxborough, Philadelphia, PA N/A $1,545 $1,632 $1,585
Port Richmond, Philadelphia, PA $1,500 $1,290 $1,499 $1,600
North Philadelphia West, Philadelphia, PA $850 $1,320 $1,475 $1,650
North Philadelphia East, Philadelphia, PA $1,264 $1,372 $1,700 $1,675
South Philadelphia West, Philadelphia, PA $1,125 $1,195 $1,550 $1,680
Spruce Hill, Philadelphia, PA $1,195 $1,575 $2,000 $1,700
Kensington, Philadelphia, PA $950 $1,545 $1,800 $1,750
East Germantown, Philadelphia, PA $875 $1,825 $1,450 $1,785
Avenue of the Arts South, Philadelphia, PA $1,100 $1,750 $2,915 $1,825
Queen Village - Pennsport, Philadelphia, PA $988 $1,500 $1,895 $1,850
Point Breeze, Philadelphia, PA $1,092 $1,281 $1,750 $1,850
Manayunk, Philadelphia, PA $1,149 $1,495 $1,833 $1,875
Fairmount - Art Museum, Philadelphia, PA $1,395 $1,525 $1,982 $1,917
Rittenhouse Square, Philadelphia, PA $1,463 $1,922 $2,778 $1,932
Center City West, Philadelphia, PA $1,382 $1,973 $3,000 $1,973
Avenue of the Arts North, Philadelphia, PA N/A $1,413 $1,600 $1,975
Bella Vista - Southwark, Philadelphia, PA $1,395 $1,498 $1,895 $1,995
Washington Square West, Philadelphia, PA $1,750 $1,898 $2,495 $2,078
Graduate Hospital, Philadelphia, PA $1,246 $1,450 $2,150 $2,095
Center City East, Philadelphia, PA $1,235 $1,895 $2,655 $2,098
Northern Liberties - Fishtown, Philadelphia, PA $1,500 $1,750 $2,338 $2,150
Logan Square, Philadelphia, PA $1,795 $2,275 $3,745 $2,395

Top Counties Near Lower Merion

There are a total of 25 counties located by Lower Merion, PA. The average rent for rentals in these counties is $2,080. That's roughly around $2 per sqft. A total of 2 counties have a lower average rent. The county that is the most affordable is Philadelphia, PA. It's average rent per month is $1,800. Vice versa, with an average rent of $2,360, Radnor, PA is the most expensive county by Lower Merion, PA.

Typically, rent for studios in Lower Merion, PA is 54.17% more expensive than other counties nearby. In comparison, rent for one bedroom listings in Lower Merion, PA is 8.15% more expensive than other counties nearby. Finally, rent for two bedrooms in Lower Merion, PA is 13.87% more expensive than other counties nearby. We've listed the top 2 counties in the chart below.
County Studio 1 Bed 2 Bed All
Philadelphia, PA $1,238 $1,691 $1,800 $1,800
Radnor, PA N/A $1,708 $2,300 $2,360

Top Zipcodes Near Lower Merion

There are a total of 5 zipcodes in or near Lower Merion, PA. The average rent for all of these zipcodes is $1,600. A total of 5 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 19131, Philadelphia, PA at $1,485 per month. In comparison, the zipcode with the most expensive average rent of $1,700 per month is 19145, Philadelphia, PA.

Studios in these zipcodes have an average rent of $1,125. That's at least $2 per sqft. Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near Lower Merion, PA is $1,325 per month. Or in other words, $2 per sqft. Meanwhile, two bedroom apartments will cost you an average of $1,628 per month. Which comes out to $2 per sqft. The following chart includes the top 5 zipcodes in Lower Merion, PA. You can view the average rent breakdown for each zipcode by bedroom size.
Zipcode Studio 1 Bed 2 Bed All
19104, Philadelphia, PA $1,195 $1,463 $1,735 $1,700
19128, Philadelphia, PA $1,325 $1,487 $1,650 $1,600
19144, Philadelphia, PA $975 $1,325 $1,628 $1,531
19145, Philadelphia, PA $1,125 $1,195 $1,573 $1,700
19131, Philadelphia, PA N/A $1,075 $1,395 $1,485

Frequently Asked Questions - Lower Merion Average Rents

What is the average rent price in Lower Merion, PA?
The average monthly rental price for Lower Merion, PA apartments for rent is approximately $2,380. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.
Do Lower Merion, PA rent prices drop in winter?
Yes! On average we see a 3.4% drop in rental prices between the peak summer months and the slower winter months. With the added bonus of decreased competition from other renters looking to move, winter is generally considered the best time of the year to find an apartment for rent in Lower Merion, PA.
How much is a studio apartment in Lower Merion, PA?
The average monthly rental price for studio apartments is $1,350 and an average price per square feet of $3.08. There are a total of 5 studio apartment listings currently available for rent in Lower Merion.
How much is a one bedroom apartment in Lower Merion, PA?
The average monthly rental price for one bedroom apartments is $1,850 and an average price per square feet of $2.64. There are a total of 57 one bedroom apartment listings currently available for rent in Lower Merion.
How much is a two bedroom apartment in Lower Merion, PA?
The average monthly rental price for two bedroom apartments is $2,380 and an average price per square feet of $2.32. There are a total of 33 two bedroom apartment listings currently available for rent in Lower Merion.
How have rent prices in Lower Merion, PA changed this year?
Rent prices for rentals in Lower Merion, PA can fluctuate yearly. Specifically, studio rental prices have changed by 0.00%, one bedroom rental prices have changed by 0.00%, two bedroom rental prices have changed by 0.00%, and three bedroom rental prices have changed by -0.18% year-over-year.
What is a reasonable rent price in Lower Merion, PA?
A reasonable rent price in Lower Merion, PA is around $1,904/month. You can search for these reasonably priced rental listings on RentHop.
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