Lower Merion, PA is a thriving suburban community located in the greater Philadelphia Metropolitan Area. With excellent schools, plenty of cultural attractions, and its convenient location to the city, Lower Merion offers something for everyone. Residents enjoy access to a wide range of local businesses including restaurants, grocery stores, retail outlets and more. It is home to many major companies such as Comcast Corporation, Sbarro LLC, SEI Investments Company and CIGNA Corporation. The cost of living in Lower Merion is slightly higher than other areas of the country. Specifically 2-bedroom rent is approximately $1,990 compared with the US average of $1,430. Additionally, groceries cost index in Lower Merion is 114 versus 100 in the US on average. All these factors make Lower Merion an attractive place to live and work.
Lower Merion has an unemployment rate of 3.9%. The US average is 6.0%.
Lower Merion has seen the job market increase by 0.4% over the last year. Future job growth over the next ten years is predicted to be 30.5%, which is lower than the US average of 33.5%.
Tax Rates for Lower Merion
- The Sales Tax Rate for Lower Merion is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Lower Merion is 3.1%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Lower Merion
- The average income of a Lower Merion resident is $73,037 a year. The US average is $28,555 a year.
- The Median household income of a Lower Merion resident is $148,721 a year. The US average is $69,021 a year.