Personal Finance
Wynnewood, Merion Area's Most Expensive Towns For Renters: Study
You'd have to earn about $35 an hour to afford a two-bedroom rental in Wynnewood or Merion Station, a new study says.
![You'd have to earn about $35 an hour to afford a two-bedroom rental in Wynnewood or Merion Station, a new study says.](https://patch.com/img/cdn20/shutterstock/22896833/20200722/092851/styles/patch_image/public/shutterstock-rent___22092706431.jpg)
ARDMORE-MERION-WYNNEWOOD, PA — How affordable is it to rent a home in Ardmore, Merion, and Wynnewood?
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 $32 an hour to afford to rent a two-bedroom home in the Ardmore, Merion and Wynnewood area.
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The 19066 ZIP code — which covers Wynnewood and Merion Station —is the most expensive Montgomery County for renters. To afford a two-bedroom rental there, you'd have to earn more than $35.38 an hour.
Nearby, 19085 which includes Villanova and Ithan, also has the same average hourly wage of $35.38 to afford a two bedroom.
Find out what's happening in Ardmore-Merion-Wynnewoodwith free, real-time updates from Patch.
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.
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