Average Rent in Lower Merion, PA

Current Versus Historical Lower Merion, PA Rents

Lower Merion rentals average $1,776 for a studio rental to $6,600 for a 4-bedroom rental. The median price of all currently available listings is $2,200, or roughly $2 per square feet.

For the apartment units and housing in May 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 decreased by $37 (-1.43%) year-over-year from $2,567 to $2,530. 2-bedroom rentals prices have decreased by $2,039 (-36.18%) year-over-year from $5,635 to $3,596. 3-bedroom rentals prices have decreased by $531 (-14.83%) year-over-year from $3,578 to $3,048. 4-bedroom rentals prices have increased by $2,584 (58.52%) year-over-year from $4,416 to $7,000. 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 27.43% this month. 3-bedroom rents have gone down by 17.26% this month. 4-bedroom rents have gone up by 35.72% this month.

Beds	Price / Sqft	May 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$3.49	$2,120	$2,120 (0.00%)	$2,014 (5.29%)
1 BR	$2.45	$2,530	$2,567 (-1.43%)	$2,430 (4.11%)
2 BR	$2.27	$3,596	$5,635 (-36.18%)	$3,677 (-2.19%)
3 BR	$2.05	$3,048	$3,578 (-14.83%)	$3,039 (0.28%)
4+ BR	$2.09	$7,000	$4,416 (58.52%)	$3,601 (94.38%)

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 2 cities nearby Lower Merion. The average rent in Lower Merion is currently $2,083 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 King of Prussia, PA. Monthly rents here are on average $2,366 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 4.72% more expensive than other cities nearby. One bedrooms are about 9.52% more affordable. Two bedrooms in Lower Merion, PA are about 4.82% more expensive. Finally, rent for three bedrooms are about 20.80% more expensive. Want more information? Check out the top 2 cities near Lower Merion, PA in the following chart.

City	Studio	1 Bed	2 Bed	All
Philadelphia, PA	$1,355	$1,692	$1,835	$1,800
King of Prussia, PA	$2,030	$2,087	$2,639	$2,366

Top Neighborhoods Near Lower Merion

There are a total of 29 neighborhoods in or near Lower Merion. Some of these neighborhoods include Haddington, Cobbs Creek, and Germantown. We've included all of these top 29 neighborhoods in or near Lower Merion, PA in the following chart.

The average rent for these 29 neighborhoods in or near Lower Merion, PA is currently around $1,899 per month. A total of 25 neighborhoods have a lower average rent. Meaning, only four neighborhoods have a higher average rent than $1,899. Out of all the neighborhoods in or near Lower Merion, Haddington has the most affordable average rent at $1,299 per month. Whereas, at $2,951 average rent per month, University City is the most expensive neighborhood in or near Lower Merion. View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All
Haddington, Philadelphia, PA	$1,077	$1,200	$1,280	$1,299
Cobbs Creek, Philadelphia, PA	N/A	$1,100	$1,350	$1,350
Germantown, Philadelphia, PA	$1,028	$1,325	$1,845	$1,375
Kingsessing, Philadelphia, PA	$1,038	$1,250	$1,500	$1,400
Port Richmond, Philadelphia, PA	$1,500	$1,195	$1,430	$1,500
South Philadelphia West, Philadelphia, PA	$1,038	$1,265	$1,625	$1,550
North Philadelphia West, Philadelphia, PA	$1,213	$1,421	$1,600	$1,650
Roxborough, Philadelphia, PA	$1,338	$1,613	$1,900	$1,650
North Philadelphia East, Philadelphia, PA	$1,319	$1,395	$1,672	$1,685
Kensington, Philadelphia, PA	$1,100	$1,500	$1,798	$1,750
Point Breeze, Philadelphia, PA	$1,299	$1,425	$1,800	$1,795
East Germantown, Philadelphia, PA	$1,300	$1,500	$1,700	$1,802
Avenue of the Arts North, Philadelphia, PA	$750	$1,730	$1,700	$1,850
Northern Liberties - Fishtown, Philadelphia, PA	$1,330	$1,695	$2,350	$1,870
Manayunk, Philadelphia, PA	$1,420	$1,495	$1,995	$1,899
West Powelton, Philadelphia, PA	N/A	$1,628	$1,695	$1,900
Washington Square West, Philadelphia, PA	$1,248	$1,922	$2,305	$1,924
Bella Vista - Southwark, Philadelphia, PA	$1,095	$1,575	$2,255	$2,000
Center City East, Philadelphia, PA	$1,335	$1,900	$2,695	$2,010
Queen Village - Pennsport, Philadelphia, PA	N/A	$1,413	$1,950	$2,080
Center City West, Philadelphia, PA	$1,480	$2,060	$3,253	$2,105
Avenue of the Arts South, Philadelphia, PA	$1,690	$2,067	$2,995	$2,128
Rittenhouse Square, Philadelphia, PA	$1,572	$2,144	$3,336	$2,129
Fairmount - Art Museum, Philadelphia, PA	$1,533	$1,800	$2,200	$2,190
Graduate Hospital, Philadelphia, PA	$1,342	$1,698	$2,495	$2,195
Fitler Square, Philadelphia, PA	$1,725	$2,150	$3,539	$2,350
Logan Square, Philadelphia, PA	$1,665	$2,258	$3,600	$2,375
Mantua, Philadelphia, PA	N/A	$1,300	$1,648	$2,400
University City, Philadelphia, PA	$1,340	$2,941	$4,269	$2,951

Top Counties Near Lower Merion

There are a total of 29 counties located by Lower Merion, PA. The average rent for rentals in these counties is $2,082. 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 $1,800. Vice versa, with an average rent of $2,364, Upper Merion, PA is the most expensive county by Lower Merion, PA.

Typically, rent for studios in Lower Merion, PA is 4.72% more expensive than other counties nearby. In comparison, rent for one bedroom listings in Lower Merion, PA is 9.52% more affordable than other counties nearby. Finally, rent for two bedrooms in Lower Merion, PA is 5.03% 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	$1,355	$1,692	$1,835	$1,800
Upper Merion, PA	$2,030	$2,087	$2,629	$2,364

Top Zipcodes Near Lower Merion

There are a total of 24 zipcodes in or near Lower Merion, PA. The average rent for all of these zipcodes is $1,723. A total of 23 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 19140, Philadelphia, PA at $1,250 per month. In comparison, the zipcode with the most expensive average rent of $2,366 per month is 19406, King of Prussia, PA.

Studios in these zipcodes have an average rent of $1,263. That's at least $3 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 $1,544 per month. Or in other words, $2 per sqft. Meanwhile, two bedroom apartments will cost you an average of $1,871 per month. Which comes out to $2 per sqft. The following chart includes the top 10 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
19121, Philadelphia, PA	$1,225	$1,425	$1,600	$1,737
19103, Philadelphia, PA	$1,625	$2,150	$3,561	$2,195
19146, Philadelphia, PA	$1,329	$1,588	$1,973	$1,835
19122, Philadelphia, PA	$1,338	$1,450	$1,750	$1,708
19104, Philadelphia, PA	$1,312	$2,350	$1,892	$2,175
19107, Philadelphia, PA	$1,200	$1,911	$2,615	$1,935
19125, Philadelphia, PA	$1,305	$1,591	$1,850	$1,800
19130, Philadelphia, PA	$1,513	$1,800	$2,200	$2,136
19123, Philadelphia, PA	$1,315	$1,607	$2,200	$1,890
19147, Philadelphia, PA	$1,225	$1,848	$2,259	$2,109

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 $2,200. 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 $1,776 and an average price per square feet of $3.49. 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 $1,725 and an average price per square feet of $2.45. There are a total of 51 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 $2,350 and an average price per square feet of $2.27. There are a total of 37 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 -0.01%, two bedroom rental prices have changed by -0.36%, and three bedroom rental prices have changed by -0.15% year-over-year.

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

A reasonable rent price in Lower Merion, PA is around $1,760/month. You can search for these reasonably priced rental listings on RentHop.