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Rental market trends in Philadelphia, PA

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Average Rent in Philadelphia, PA

Average Rent in Philadelphia, PA

Avg. RentAnnual Change
Studio - $1,314-6%
1 Bed - $1,787-2%
2 Beds - $1,925-8%
Last updated 5/25/2024

Average Apartment Cost in Philadelphia, PA

The average rent for apartments in Philadelphia, PA, is between $1,314 and $1,925 in 2024. For a studio apartment in Philadelphia, PA, the average rent is $1,314. When it comes to 1-bedroom apartments, the average rent in Philadelphia, PA, is $1,787. For a 2-bedroom apartment, the average rent is $1,925.

Apartment Rent Ranges in Philadelphia, PA

Apartment PricesProportion
1%
5%
29%
36%
29%

Neighborhood Apartment Rent Trends in Philadelphia, PA

NeighborhoodStudio Avg RentAnnual Change
Northern Liberties$1,970+24%
Logan Square$1,709+3%
Francisville$1,550+72%
East Falls$1,525+9%
Avenue of the Arts North$1,500-9%
Old City$1,475-15%
Rittenhouse Square$1,475+4%
Fishtown$1,450+9%
River Wards$1,444+32%
Chestnut Hill$1,424+24%
University City$1,400+7%
Society Hill$1,375+2%
West Philadelphia$1,369+5%
Oxford Circle$1,355--
West Kensington$1,338--
Center City$1,322-10%
Lower North$1,300-7%
Center City West$1,300-18%
Point Breeze$1,284-4%
Spring Garden$1,275+21%
Graduate Hospital$1,260-12%
Mantua$1,2500%
West Powelton$1,246-4%
Roxborough$1,245-7%
Lower Northwest$1,222-5%
Brewerytown$1,200-14%
South Philadelphia$1,198-10%
Bella Vista$1,150+15%
Avenue of the Arts South$1,135-11%
Bustleton$1,0990%
Washington Square West$1,095-13%
Upper North District$1,087+11%
Queen Village$1,050-22%
Cobbs Creek$1,050-12%
East Kensington$995-9%
Near Northeast Philadelphia$990+4%
Kensington$962-13%
Fox Chase$962+27%
North Central$960+2%
Southwest Philadelphia$900-20%
Overbrook$884-7%
Cedar Park$870+4%
Hartranft$850-6%
Upper North Philadelphia$850-3%
Neighborhood1 Bed Avg RentAnnual Change
Logan Square$2,310-6%
University City$2,215-9%
Center City West$2,100+7%
Society Hill$2,085-8%
Center City$2,077-4%
Avenue of the Arts North$2,061+3%
Rittenhouse Square$1,995+3%
Northern Liberties$1,962+2%
Avenue of the Arts South$1,922-13%
Old City$1,900-6%
Washington Square West$1,7950%
Chestnut Hill$1,766+14%
Fishtown$1,697+1%
Graduate Hospital$1,695-3%
West Powelton$1,615-8%
Kensington$1,597-11%
Bella Vista$1,575+13%
River Wards$1,570-5%
West Philadelphia$1,552-14%
East Kensington$1,545-4%
Francisville$1,518-11%
Roxborough$1,500-6%
Lower Northwest$1,497-4%
East Falls$1,474-13%
Queen Village$1,472-8%
Brewerytown$1,462-11%
West Kensington$1,450-3%
Point Breeze$1,435-1%
South Philadelphia$1,430+3%
Bustleton$1,423+10%
Spring Garden$1,412-6%
Lower North$1,408-6%
Cedar Park$1,375+6%
Overbrook$1,365-7%
Somerton$1,310--
Upper North Philadelphia$1,300+33%
Hartranft$1,281-1%
Mantua$1,275+14%
Southwest Philadelphia$1,275+8%
Oxford Circle$1,250+5%
North Central$1,2150%
Near Northeast Philadelphia$1,185+6%
Cobbs Creek$1,175-2%
Upper North District$1,170+2%
Fox Chase$1,062+16%
Germantown$950--
West Oak Lane$950-17%
Wynnefield$895-54%
Neighborhood2 Beds Avg RentAnnual Change
University City$3,420-1%
Rittenhouse Square$3,110+8%
Center City West$3,000+8%
Avenue of the Arts South$2,953-11%
Center City$2,940-2%
Old City$2,645-7%
Chestnut Hill$2,549+56%
Northern Liberties$2,474-23%
Kensington$2,400+30%
Fishtown$2,395+9%
Washington Square West$2,3050%
Bella Vista$2,259+56%
Somerton$2,150+8%
Overbrook$2,100+87%
Queen Village$2,000+13%
Avenue of the Arts North$2,000-15%
Graduate Hospital$1,9950%
River Wards$1,960-1%
East Falls$1,914-16%
Francisville$1,895+6%
Lower Northwest$1,856-1%
Roxborough$1,847-3%
Spring Garden$1,825-17%
South Philadelphia$1,797+2%
Point Breeze$1,795+20%
Mantua$1,775-11%
East Kensington$1,774-8%
Brewerytown$1,700-7%
West Philadelphia$1,695-9%
West Powelton$1,695-6%
West Kensington$1,695-6%
Lower North$1,609-10%
Upper North Philadelphia$1,605-8%
Wynnefield$1,595--
Bustleton$1,555+5%
Southwest Philadelphia$1,505+8%
North Central$1,5000%
Hartranft$1,495-11%
Cobbs Creek$1,421+18%
West Oak Lane$1,375+10%
Upper North District$1,372+7%
Near Northeast Philadelphia$1,335-4%
Fox Chase$1,335-7%
Cedar Park$1,250-32%
Germantown$1,200--
Oxford Circle$1,200-9%

How Other Cities Compare to Philadelphia, PA

CityStudio Avg RentAnnual Change
Cherry Hill$2,013-4%
Allentown$1,838+33%
Bala Cynwyd$1,735-4%
Lansdale$1,713-7%
Malvern$1,649-7%
Bensalem$1,634-44%
King of Prussia$1,567-18%
West Chester$1,562+4%
Wilmington$1,5570%
Reading$1,305-3%
Conshohocken$1,090--
Newark$1,0250%
Bethlehem$872-29%
Trenton$7210%
City1 Bed Avg RentAnnual Change
Ardmore$2,425-13%
Cherry Hill$2,242-8%
Lansdale$2,117+7%
King of Prussia$2,008+5%
Allentown$1,971+1%
Bala Cynwyd$1,947-18%
Malvern$1,925-3%
West Chester$1,887-3%
Bethlehem$1,845+9%
Conshohocken$1,783-23%
Wilmington$1,605+3%
Bensalem$1,589+2%
Northeast Philadelphia$1,544-4%
Newark$1,495-1%
Reading$1,420-7%
Trenton$1,400-5%
City2 Beds Avg RentAnnual Change
Ardmore$3,555-10%
Princeton$3,401-18%
Bala Cynwyd$2,914-1%
Cherry Hill$2,720-11%
Malvern$2,607-3%
Lansdale$2,504-7%
King of Prussia$2,360-17%
West Chester$2,239-5%
Allentown$2,199+24%
Bethlehem$2,1450%
Wilmington$1,893+3%
Bensalem$1,866-2%
Northeast Philadelphia$1,849-5%
Conshohocken$1,812-36%
Reading$1,702+4%
Newark$1,662+5%
Trenton$1,600-10%

Philadelphia, PA Rent Trends

Studio1 Bed2 Beds
May 2023Jun 2023Jul 2023Aug 2023Sep 2023Oct 2023Nov 2023Dec 2023Jan 2024Feb 2024Mar 2024Apr 2024May 2024
$1392$1370$1365$1337$1314$1322$1322$1310$1299$1285$1402$1319$1312
$1825$1856$1840$1862$1812$1695$1772$1760$1706$1663$1737$1762$1787
$2085$2095$2035$1997$1925$1897$1897$1889$1896$1887$1900$1975$1925
$2197$2211$2125$2022$1985$1997$1997$1999$2000$2140$2198$2237$2225

Neighborhood Information for Philadelphia, PA

What are the most affordable neighborhoods in Philadelphia, PA?

The most affordable neighborhoods in Philadelphia are Wynnefield, where the average 1-bedroom apartment rent goes for $895, Germantown, where renters pay $950 on average for a 1-bedroom apartment, and West Oak Lane, where the average 1-bedroom apartment rent goes for $950. If you're looking for other great deals, check out the listings in Fox Chase ($1,062 for a 1-bedroom apartment) or Upper North District ($1,170 for a 1-bedroom apartment), compared to the $1,787 average for a Philadelphia 1-bedroom apartment.

What are the most expensive neighborhoods in Philadelphia, PA?

The most affordable neighborhoods in Philadelphia are Fitler Square, where the average 1-bedroom apartment rent goes for $2,726, Logan Square, where renters pay $2,310 on average for a 1-bedroom apartment, and University City, where the average 1-bedroom apartment rent goes for $2,215. If you're looking for other great deals, check out the listings in Center City West ($2,100 for a 1-bedroom apartment) or Society Hill ($2,085 for a 1-bedroom apartment), compared to the $1,787 average for a Philadelphia 1-bedroom apartment.

What are the most popular neighborhoods in Philadelphia, PA?

The most popular neighborhoods in Philadelphia are Lower North, where the average 1-bedroom apartment rent goes for $1,408, Brewerytown, where renters pay $1,462 on average for a 1-bedroom apartment, and North Central, where the average 1-bedroom apartment rent goes for $1,215. If you're looking for other popular neighborhoods, check out the listings in Avenue of the Arts North ($2,061 for a 1-bedroom apartment) or Hartranft ($1,281 for a 1-bedroom apartment), compared to the $1,787 average for a Philadelphia 1-bedroom apartment.

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