Quick facts: Norristown, PA

Quick Facts

105.5
Cost of Living
above US average
35,795
Population
24.7
Crime Rate per 1000
above US average
$59,068
Median Income
below US average
$399,900
Median House Price
above US average
$2130.51
Average Rent
above US average
10%
Poverty Rate
below US average
3.3%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $59,068.

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Income Needed to Buy

βœ— Stretch
$125k/year
Based on $399,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $125k vs median $59,068
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Income Needed to Rent

⚠ Stretch
$91k/year
Based on $2130.51/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $91k vs median $59,068
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Norristown, PA

Norristown, located in Montgomery County, Pennsylvania, is a vibrant borough with a rich history and a diverse community. Positioned along the Schuylkill River, it's just a short drive from Philadelphia, making it an appealing location for commuters. Norristown boasts a mix of residential, commercial, and recreational spaces, with a population of around 34,000. The town is known for its historical significance, featuring landmarks such as the Montgomery County Courthouse and the old Norristown State Hospital. Norristown’s revitalization efforts have enhanced local businesses and cultural institutions, attracting more residents and visitors alike. Recreational opportunities abound in Norristown, with parks such as Montgomery County's Norristown Farm Park offering trails, wildlife observation, and outdoor activities. The town also hosts various community events, fostering a strong sense of community. With its convenient transit options, including rail and bus services, Norristown is becoming an attractive place for families, professionals, and young adults seeking a balance of suburban living and urban amenities.

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