Narberth, Pennsylvania Information
The borough of Narberth, Pennsylvania is in Montgomery County and is about eight miles northwest of Philadelphia. It is one of many towns and neighborhoods that are in the historic region known as the Philadelphia Main Line. The main line was part of a railroad system that connected the City Center of Philadelphia to Pittsburgh. The townships, boroughs, and unincorporated neighborhoods outside Philadelphia in the Main Line region such as Bryn Mawr, Haverford, Drexel Hill, and Penn Valley have some of the wealthiest communities in America. The borough is also within a few miles of some of the most prestigious universities in the country, including the University of Pennsylvania, Drexel University, Temple University, and Villanova University.
Narberth, Pennsylvania Details
A Welshman named Edward Rees settled on a parcel of land that was deeded to him in what is now Narberth in 1682. In 1881, Edward R. Price developed a 100-acre farm on this same parcel of land and founded a Quaker-friendly town around his farm that he named Elm. In 1883, Elm changed its name to Narberth, and the borough was incorporated in 1895.
Today, this borough is in an urban setting and has a population of around 4,305 residents. According to the most recent statistics, the borough’s median household income is $108,025, and the per capita income in the borough in 2017 was $59,086. 64 percent of households have an income of $75,000 or more, and 36 percent of individuals have an income of $65,000 or more.
The borough also has a highly educated population among those who are 25 years of age or older. 73 percent of this population has a bachelor’s degree or higher, and 38 percent of the population has a graduate or professional degree. The most common professions among those who are employed include education, business, financial management, administrative services, and health care. The borough has an unemployment rate of about 3.8 percent.
The estimated median home value in the borough is $486,100. Over 30 percent of the properties have a value between $500,000 and $7500,000. The rate of home ownership in the borough is 61 percent. Average rents range from a low of $1340 for a studio apartment to a high of $3530 for a four-bedroom residence. The average home value and rents in the borough are higher than in Philadelphia.
Quality of life
The cost of living in the borough is higher than the national average in all areas including housing, groceries, transportation, and health care. Yet, it is one of the safest communities in the nation. For a 15 year stretch from 2002 to 2016, there were no murders, no reported arsons, two rapes, and 14 robberies. Assaults and auto thefts are well below the national average, while theft and burglaries tend to be above the national average. Overall, the borough gets an “A+” rating for public schools and quality of life for families, and a “B+” rating for housing, safety, and nightlife. The borough only gets a “B” rating for diversity.
Narberth Property Management
Our property management team specializes in residential areas throughout Narberth, PA. We offer multiple services to take your rental property and convert it into reliable income. We have a thorough screening process that helps to identify the right tenants for your property. Our team works hard to keep both parties happy through effective communication, bullet proof lease agreements, and timely monthly rent collection. We offer maintenance services to enhance the property and ensure that it will retain or increase in value. We oversee everything, allowing you to sit back and relax and know that your property and your tenants are in good hands.
Contact us today if you are ready to receive a comprehensive analysis of your rental property and to inquire about our Narberth area property management services.
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