The typical owner-occupied home in Merion Station is worth about $886,600, 3.5 times the Pennsylvania median of $254,500 and 2.7 times the national median of $332,700. Owners pay a median $10,001 a year in property taxes, about 1.13% of their home's value, lower than the Pennsylvania rate of 1.30%. The median household earns $250,001 a year, so the median home costs 3.5 times the median income (3.3 times for Pennsylvania). 89% of occupied homes here are lived in by their owners, and 63% of those owners still have a mortgage.
Merion Station at a glance
| Merion Station | Pennsylvania | U.S. | |
|---|---|---|---|
| Median home value | $886,600 | $254,500 | $332,700 |
| Median property tax paid per year | $10,001 | $3,311 | $3,119 |
| Property tax as a share of value | 1.13% | 1.30% | 0.94% |
| Median household income | $250,001 | $77,971 | $80,734 |
| Homes lived in by their owners | 89% | 69% | 65% |
| Owner homes with a mortgage | 63% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $3,825 | $1,762 | $1,963 |
| Those costs as a share of the owners' income | 14.5% | 19.4% | 21.0% |
| Median rent | $2,461 | $1,209 | $1,413 |
| Rent as a share of renters' income | 17.6% | 29.2% | 30.6% |
| Median year homes were built | 1938 | 1965 | 1980 |
| Vacant homes | 0.0% | 9.2% | 10.1% |
| Population | 5,788 | 13,018,639 | 334,922,499 |
What a typical home costs per month in Merion Station
At this week's average 30-year rate of 7.11%, buying the median Merion Station home of $886,600 with 20% down costs about $5,976 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $7,595, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $256,100 for the 20%-down payment. That payment is 29% of the median Merion Station household income of $250,001; at that income and 20% down, the 28% guideline points to a home of about $865,000.
The median rent here is $2,461 a month, so owning the median home costs about $3,515 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $177,320 |
|---|---|
| Loan amount | $709,280 |
| Principal and interest | $4,771 |
| Property taxes (1.13% a year) | $835 |
| Homeowners insurance (our estimate, 0.5% a year) | $369 |
| PMI | $0 |
| Total per month | $5,976 |
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| Down payment | $31,031 |
|---|---|
| Loan amount | $870,541 |
| Principal and interest | $5,856 |
| Property taxes (1.13% a year) | $835 |
| Homeowners insurance (our estimate, 0.5% a year) | $369 |
| FHA mortgage insurance | $535 |
| Total per month | $7,595 |
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Questions about home buying in Merion Station
What is the median home value in Merion Station?
About $886,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Merion Station?
Homeowners pay a median $10,001 a year, which is about 1.13% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Merion Station?
For the median home with 20% down at 7.11%, the payment is about $5,976 a month. Keeping that under 28% of gross income takes about $256,100 a year.
More about Merion Station
- Mortgage Refinance in Merion Station
- Debt Relief in Merion Station
- Home Equity Loans in Merion Station
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data