Narberth, Bala Cynwyd Among Area's Most Expensive For Rent: Study

NARBERTH-BALA CYNWYD, PA — How affordable is it to rent a home in Narberth and Bala Cynwyd?

Not very affordable, according to a new analysis by the National Low Income Housing Coalition.

The coalition recently released its annual "Out Of Reach" report for 2020, and it shows that you'd have to earn about $30 an hour to afford to rent a two-bedroom home in Narberth and Bala Cynwyd area.

The 19072 ZIP code — which covers a portion of Narberth, as well as Merion Station, Gladwyne, and Penn Valley — is the one of the most expensive areas for renters. To afford a two-bedroom rental there, you'd have to earn more than $30.77 an hour.

Nearby, 19085 (Villanova and Ithan) and 19066 (Merion Station and Wynnewood) are the most expensive in the area, each with an average hourly wage of $35.38 to rent a two bedroom place.

The report ranks ZIP codes by the hourly wage a person would need to earn to afford renting without spending more than 30 percent of their income on housing.

Across Pennsylvania, renters earn $15.90 per hour on average, while $19.23 per hour is needed to afford to rent a two-bedroom home.

Residents in the Keystone State would have to work 86 hours per week at the minimum wage of $7.25 to afford even a one-bedroom home, the report says.

Pennsylvania ranked 26th in the nation in terms of affordability for renters. The most expensive state for housing is Hawaii, followed by California, then Massachusetts.

You can view the full report here.