How Norristown Compares To Area In Rental Affordability: Study

NORRISTOWN, PA — How affordable is it to rent a home in Norristown?

Significantly less affordable than the average in Pennsylvania, according to a new analysis from 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 $24 an hour to afford to rent a two-bedroom home in the Norristown area.

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.

Here's how Norristown compared to some neighboring zip codes:

Data shows hourly wage needed to afford a two-bedroom home

• Abington: $23.27
• Whitemarsh: $25.96
• Horsham: $26.54
• King of Prussia: $28.85
• Collegeville: $30.96

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.