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Rental market trends in Philadelphia, PA

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Average Rent in Philadelphia, PA

Avg. RentAnnual Change
Studio - $1,330-1%
1 Bed - $1,857+3%
2 Beds - $2,145+6%
Last updated 3/28/2023

Average Apartment Cost in Philadelphia, PA

The average rent for apartments in Philadelphia, PA, is between $1,330 and $2,145 in 2023. For a studio apartment in Philadelphia, PA, the average rent is $1,330. When it comes to 1-bedroom apartments, the average rent in Philadelphia, PA, is $1,857. For a 2-bedroom apartment, the average rent is $2,145.

Apartment Rent Ranges in Philadelphia, PA

Apartment Prices

Neighborhood Apartment Rent Trends in Philadelphia, PA

NeighborhoodStudio Avg RentAnnual Change
Logan Square$1,747+1%
Old City$1,650+5%
Northern Liberties$1,495-15%
Center City$1,490+9%
Avenue of the Arts North$1,450+3%
Center City West$1,405+8%
Rittenhouse Square$1,388+4%
University City$1,382+6%

How Other Cities Compare to Philadelphia, PA

CityStudio Avg RentAnnual Change
Cherry Hill$1,812-16%
West Chester$1,562+7%

Philadelphia, PA Rent Trends

Neighborhood Information for Philadelphia, PA

What are the most affordable neighborhoods in Philadelphia, PA?

The most affordable neighborhoods in Philadelphia are Hartranft, where the average 1-bedroom apartment rent goes for $495, Strawberry Mansion, where renters pay $718 on average for a 1-bedroom apartment, and Germantown, where the average 1-bedroom apartment rent goes for $895. If you're looking for other great deals, check out the listings in Upper North Philadelphia ($900 for a 1-bedroom apartment) or Fox Chase ($915 for a 1-bedroom apartment), compared to the $1,857 average for a Philadelphia 1-bedroom apartment.