Average Rent in Lower Merion, PA

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Current Versus Historical Lower Merion, PA Rents

Lower Merion rentals average $1,295 for a studio rental to $5,475 for a 4-bedroom rental. The median price of all currently available listings is $2,363, or roughly $3 per square feet.

For the apartment units and housing in January 2025, median rents have fallen substantiallyover the last year. Studio rentals prices have decreased by $564 (-26.60%) year-over-year from $2,120 to $1,556. 1-bedroom rentals prices have decreased by $758 (-29.94%) year-over-year from $2,530 to $1,773. 2-bedroom rentals prices have decreased by $3,440 (-61.05%) year-over-year from $5,635 to $2,195. 3-bedroom rentals prices have decreased by $990 (-21.87%) year-over-year from $4,525 to $3,535. 4-bedroom rentals prices have increased by $192 (4.55%) year-over-year from $4,208 to $4,400. 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 10.68% this month. 1-bedroom rents have gone down by 10.56% this month. 2-bedroom rents have gone down by 32.98% this month. 3-bedroom rents have gone up by 2.61% this month. 4-bedroom rents have gone down by 21.89% this month.

Beds	Price / Sqft	Jan 2025 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$3.08	$1,556	$2,120 (-26.60%)	$2,120 (-26.60%)
1 BR	$3.16	$1,773	$2,530 (-29.94%)	$2,561 (-30.78%)
2 BR	$2.57	$2,195	$5,635 (-61.05%)	$5,635 (-61.05%)
3 BR	$1.85	$3,535	$4,525 (-21.87%)	$3,181 (11.12%)
4+ BR	$2.16	$4,400	$4,208 (4.55%)	$4,350 (1.15%)

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 $1,845 per month. Only one city nearby has an average rent lower than that. Our records show that Philadelphia, PA, with an average rent of $1,845, 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 $1,845 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 3.47% more expensive than other cities nearby. One bedrooms are about 21.98% more expensive. Two bedrooms in Lower Merion, PA are about 23.96% more expensive. Finally, rent for three bedrooms are about 50.13% 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	$1,250	$1,745	$1,825	$1,845

Top Neighborhoods Near Lower Merion

There are a total of 13 neighborhoods in or near Lower Merion. Some of these neighborhoods include North Philadelphia East, Avenue of the Arts South, and Kensington. We've included all of these top 13 neighborhoods in or near Lower Merion, PA in the following chart.

The average rent for these 13 neighborhoods in or near Lower Merion, PA is currently around $2,050 per month. A total of 11 neighborhoods have a lower average rent. Meaning, only two neighborhoods have a higher average rent than $2,050. Out of all the neighborhoods in or near Lower Merion, North Philadelphia East has the most affordable average rent at $1,600 per month. Whereas, at $2,470 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
North Philadelphia East, Philadelphia, PA	$1,100	$1,335	$1,700	$1,600
Avenue of the Arts South, Philadelphia, PA	$1,125	$1,665	$2,373	$1,723
Kensington, Philadelphia, PA	$1,092	$1,725	$1,818	$1,725
North Philadelphia West, Philadelphia, PA	$1,000	$1,300	$1,500	$1,800
Point Breeze, Philadelphia, PA	$992	$1,114	$1,670	$1,900
Center City East, Philadelphia, PA	$1,115	$1,800	$2,898	$2,030
Bella Vista - Southwark, Philadelphia, PA	$1,798	$1,495	$1,850	$2,050
Fairmount - Art Museum, Philadelphia, PA	$1,500	$1,575	$2,100	$2,100
Center City West, Philadelphia, PA	$1,474	$2,158	$3,280	$2,165
Northern Liberties - Fishtown, Philadelphia, PA	$1,512	$1,675	$2,375	$2,200
Rittenhouse Square, Philadelphia, PA	$1,438	$1,979	$2,835	$2,235
Washington Square West, Philadelphia, PA	$1,785	$2,435	$4,059	$2,420
Logan Square, Philadelphia, PA	$1,898	$2,265	$3,780	$2,470

Top Counties Near Lower Merion

There are a total of 13 counties located by Lower Merion, PA. The average rent for rentals in these counties is $1,845. That's roughly around $2 per sqft. A total of 1 counties have a lower average rent. The county that is the most affordable is Philadelphia, PA. It's average rent per month is $1,845. Vice versa, with an average rent of $1,845, Philadelphia, PA is the most expensive county by Lower Merion, PA.

Typically, rent for studios in Lower Merion, PA is 3.47% more expensive than other counties nearby. In comparison, rent for one bedroom listings in Lower Merion, PA is 21.98% more expensive than other counties nearby. Finally, rent for two bedrooms in Lower Merion, PA is 23.96% more expensive than other counties nearby. We've listed the top 1 counties in the chart below.

County	Studio	1 Bed	2 Bed	All
Philadelphia, PA	$1,250	$1,745	$1,825	$1,845

Top Zipcodes Near Lower Merion

There is one zipcode in or near Lower Merion, PA. The average rent for this zipcode is $1,950.

The following chart includes the zipcode in or near 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	$2,223	$1,800	$1,950

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 $2,363. 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 $1,295 and an average price per square feet of $3.08. There are a total of 3 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 $2,237 and an average price per square feet of $3.16. There are a total of 24 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 $2,400 and an average price per square feet of $2.57. There are a total of 13 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 -0.27%, one bedroom rental prices have changed by -0.30%, two bedroom rental prices have changed by -0.61%, and three bedroom rental prices have changed by -0.22% year-over-year.

What is a reasonable rent price in Lower Merion, PA?

A reasonable rent price in Lower Merion, PA is around $1,890/month. You can search for these reasonably priced rental listings on RentHop.