Chester County had some of the highest rents in the Philadelphia area in March, according to a new report by RENTCafé.
RENTCafé compiled the report using data on average rents at competitively-rented, large-scale, multifamily properties in the Philadelphia area gathered by Yardi Matrix via telephone survey. Only places with a statistically relevant stock of large-scale, multifamily properties were included in the report.
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Exton had the highest rent both in Chester County and the entire Philadelphia region at $1,777. This is significantly above the national average of $1,407 and slightly above the Philadelphia average of $1,672.
Exton, which has a 52 percent renter share, saw an increase of 3.1 percent in the average rent compared to last year.
Malvern and West Chester are also among the most expensive places with an average rent of $1,767 and $1,631, respectively. Malvern saw an increase of 0.6 percent year over year, while West Chester is up 4.2 percent.
Phoenixville is next with $1,533 and a 1.9 percent increase compared to last year.
Finally, among the more budget-friendly places is Downingtown, with an average rent of $1,434, a six percent increase.
Read more about the average rent prices in the Philadelphia area in RENTCafé.