Montgomery County had some of the high rent hubs in the Philadelphia area in March 2021, according to a new report by RENTCafé.
RENTCafé compiled the report using data on average rents at competitively-rented large-scale multifamily properties in the Philadelphia area gathered by Yardi Matrix via telephone survey. Only places with statistically relevant stock of large-scale multifamily properties were included in the report.
Bryn Mawr is a high rent hub in Montgomery County and the third-highest rent in the Philadelphia region at $1,753. This is significantly above the national average of $1,407 and slightly above the Philadelphia average of $1,672.
Bryn Mawr, which has a 51 percent renter share, saw an increase of 3.9 percent in average rent compared to last year.
King of Prussia is also among the most expensive places, also a high rent hub, with an average rent of $1,689, while Conshohocken is close behind at $1,671.
Lansdale is next with an average rent of $1,607, followed by Willow Grove with $1,556 and East Norriton with $1,526. Norristown has an average rent of $1,367.
Finally, among more budget-friendly places are Horsham and Pottstown with an average rent of $1,254 and $1,233, respectively.
Read more about the average rent prices in the Philadelphia area in RENTCafé.
