Average Rent in Philadelphia, PA

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Current Versus Historical Philadelphia, PA Rents

Philadelphia rentals average $1,300 for a studio rental to $2,400 for a 4-bedroom rental. The median price of all currently available listings is $1,750, or roughly $24 per square feet.
For the apartment units and housing in March 2023, median rents have risen substantially over the last year. Studio rentals prices have decreased by $155 (-10.51%) year-over-year from $1,470 to $1,315. 1-bedroom rentals prices have increased by $197 (14.25%) year-over-year from $1,379 to $1,575. 2-bedroom rentals prices have increased by $166 (10.15%) year-over-year from $1,634 to $1,800. 3-bedroom rentals prices have increased by $127 (7.35%) year-over-year from $1,723 to $1,850. 4-bedroom rentals prices have increased by $83 (3.41%) year-over-year from $2,418 to $2,500. Note that this figure includes all active and rented listings throughout the month.
Month-to-month, seasonality might have a bigger impact than overall trend price changes. Studio rents have gone down by 2.95% this month. 1-bedroom rents have gone up by 3.39% this month. 2-bedroom rents have gone up by 6.82% this month. 3-bedroom rents have gone up by 3.93% this month. 4-bedroom rents have gone up by 2.74% this month.
Beds
Price / Sqft
Mar 2023 Rent 1 Yr Ago Rent (% +/-) 3 Yr Ago Rent (% +/-)
Studio $36 $1,315 $1,470 (-10.51%) $1,058 (24.25%)
1 BR $32 $1,575 $1,379 (14.25%) $1,248 (26.17%)
2 BR $24 $1,800 $1,634 (10.15%) $1,382 (30.28%)
3 BR $18 $1,850 $1,723 (7.35%) $1,400 (32.14%)
4+ BR $17 $2,500 $2,418 (3.41%) $2,141 (16.78%)

Historical Rents in Philadelphia, PA

Studio
1 Bed
2 Bed
3 Bed
4 Bed

Top Cities Near Philadelphia

There are a total of 4 cities nearby Philadelphia. The average rent in Philadelphia is currently $2,191 per month. Our records show that Lansdale, PA, with an average rent of $1,890, is the most affordable city nearby. In contrast, the most expensive city near Philadelphia, PA is Glassboro, NJ. Monthly rents here are on average $2,700 per month.

Let's compare Philadelphia, PA's rent against other top cities nearby by bedroom size. Typically, rent for studios in Philadelphia, PA is 36.04% more affordable than other cities nearby. One bedrooms are about 27.02% more affordable. Two bedrooms in Philadelphia, PA are about 43.20% more affordable. Finally, rent for three bedrooms are about 36.89% more affordable. Want more information? Check out the top 4 cities near Philadelphia, PA in the following chart.
City Studio 1 Bed 2 Bed All
Lansdale, PA $1,835 $2,038 $2,605 $1,890
Phoenixville, PA $1,702 $1,981 $2,536 $1,981
King of Prussia, PA $1,935 $2,134 $2,817 $2,401
Glassboro, NJ N/A N/A $1,598 $2,700

Top Neighborhoods Near Philadelphia

There are a total of 27 neighborhoods in or near Philadelphia. Some of these neighborhoods include Logan - Ogontz - Fern Rock, Germantown, and Cobbs Creek. We've included all of these top 27 neighborhoods in or near Philadelphia, PA in the following chart.

The average rent for these 27 neighborhoods in or near Philadelphia, PA is currently around $1,750 per month. A total of 14 neighborhoods have a lower average rent. Meaning, only thirteen neighborhoods have a higher average rent than $1,750. Interestingly, the neighborhoods' average rent is equivalent to Philadelphia's average rent, which is also $1,750. Interestingly, the neighborhoods' average rent is less than Philadelphia's average rent, which is actually $1,750. Out of all the neighborhoods in or near Philadelphia, Logan - Ogontz - Fern Rock has the most affordable average rent at $1,195 per month. Whereas, at $3,003 average rent per month, University City is the most expensive neighborhood in or near Philadelphia. View the following chart for more information.
Neighborhood Studio 1 Bed 2 Bed All
Logan - Ogontz - Fern Rock, Philadelphia, PA $850 $988 $1,173 $1,195
Germantown, Philadelphia, PA $1,098 $1,120 $1,395 $1,283
Cobbs Creek, Philadelphia, PA $1,000 $1,025 $1,400 $1,350
Port Richmond, Philadelphia, PA $1,060 $1,650 $1,350 $1,400
Spruce Hill, Philadelphia, PA $925 $1,180 $1,655 $1,450
South Philadelphia West, Philadelphia, PA $1,600 $1,275 $1,600 $1,550
East Germantown, Philadelphia, PA $915 $1,905 $1,325 $1,625
Walnut Hill, Philadelphia, PA $1,405 $1,780 $1,750 $1,655
Washington Square West, Philadelphia, PA $1,250 $1,598 $2,300 $1,695
Kensington, Philadelphia, PA $2,038 $1,290 $1,850 $1,700
North Philadelphia West, Philadelphia, PA $1,238 $1,260 $1,495 $1,735
Avenue of the Arts North, Philadelphia, PA $1,625 $1,804 $1,500 $1,750
Bella Vista - Southwark, Philadelphia, PA $1,300 $1,398 $1,900 $1,750
North Philadelphia East, Philadelphia, PA $1,500 $1,550 $1,725 $1,750
West Powelton, Philadelphia, PA $900 $1,695 $1,725 $1,760
Mantua, Philadelphia, PA $1,250 $1,285 $1,795 $1,795
Point Breeze, Philadelphia, PA $1,100 $1,350 $1,700 $1,800
Rittenhouse Square, Philadelphia, PA $1,398 $1,773 $2,750 $1,850
Northern Liberties - Fishtown, Philadelphia, PA $1,400 $1,660 $2,195 $1,925
Fairmount - Art Museum, Philadelphia, PA $1,615 $1,898 $2,050 $2,045
Center City West, Philadelphia, PA $1,460 $1,935 $3,036 $2,046
Avenue of the Arts South, Philadelphia, PA $1,180 $2,020 $2,865 $2,114
Graduate Hospital, Philadelphia, PA $1,238 $1,785 $2,395 $2,300
Fitler Square, Philadelphia, PA $2,045 $2,585 $2,070 $2,418
Center City East, Philadelphia, PA $1,648 $2,100 $2,865 $2,450
Logan Square, Philadelphia, PA $1,768 $2,665 $3,700 $2,745
University City, Philadelphia, PA $1,395 $2,695 $3,876 $3,003

Top Counties Near Philadelphia

There are a total of 27 counties located by Philadelphia, PA. Some of these counties include Upper Darby, PA, Philadelphia, PA, and Lansdale, PA. The average rent for rentals in these counties is $1,981. That's roughly around $30 per sqft. A total of 2 counties have a lower average rent. The county that is the most affordable is Upper Darby, PA. It's average rent per month is $1,200. Vice versa, with an average rent of $2,700, Glassboro, NJ is the most expensive county by Philadelphia, PA.

Typically, rent for studios in Philadelphia, PA is 22.81% more affordable than other counties nearby. In comparison, rent for one bedroom listings in Philadelphia, PA is 25.22% more affordable than other counties nearby. Finally, rent for two bedrooms in Philadelphia, PA is 38.27% more affordable than other counties nearby. We've listed the top 7 counties in the chart below.
County Studio 1 Bed 2 Bed All
Upper Darby, PA $1,119 $995 $1,289 $1,200
Philadelphia, PA $1,300 $1,582 $1,795 $1,750
Lansdale, PA $1,835 $2,038 $2,605 $1,890
Phoenixville, PA $1,702 $1,981 $2,536 $1,981
Lower Merion, PA $1,597 $2,181 $2,482 $2,300
Upper Merion, PA $1,935 $2,134 $2,807 $2,402
Glassboro, NJ N/A N/A $1,598 $2,700

Top Zipcodes Near Philadelphia

There are a total of 27 zipcodes in or near Philadelphia, PA. The average rent for all of these zipcodes is $1,800. A total of 11 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 19124, Philadelphia, PA at $1,095 per month. In comparison, the zipcode with the most expensive average rent of $2,700 per month is 08028, Glassboro, NJ.

Studios in these zipcodes have an average rent of $1,240. That's at least $34 per sqft. Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near Philadelphia, PA is $1,400 per month. Or in other words, $30 per sqft. Meanwhile, two bedroom apartments will cost you an average of $1,800 per month. Which comes out to $23 per sqft. The following chart includes the top 10 zipcodes in Philadelphia, PA. You can view the average rent breakdown for each zipcode by bedroom size.
Zipcode Studio 1 Bed 2 Bed All
19121, Philadelphia, PA $1,200 $1,300 $1,460 $1,763
19103, Philadelphia, PA $1,550 $2,424 $3,345 $2,515
19104, Philadelphia, PA $1,008 $1,400 $1,800 $1,790
19107, Philadelphia, PA $1,240 $2,050 $2,880 $2,370
19122, Philadelphia, PA $1,523 $1,550 $1,850 $1,800
19146, Philadelphia, PA $1,175 $1,563 $1,895 $1,885
19130, Philadelphia, PA $1,615 $1,750 $2,000 $2,000
19123, Philadelphia, PA $1,625 $1,863 $2,123 $1,902
19125, Philadelphia, PA $2,307 $1,600 $1,885 $1,850
19106, Philadelphia, PA $1,650 $2,050 $2,733 $2,195

Frequently Asked Questions - Philadelphia Average Rents

What is the average rent price in Philadelphia, PA?
The average monthly rental price for Philadelphia, PA apartments for rent is approximately $1,750. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.
Do Philadelphia, PA rent prices drop in winter?
Yes! On average we see a 3.4% drop in rental prices between the peak summer months and the slower winter months. With the added bonus of decreased competition from other renters looking to move, winter is generally considered the best time of the year to find an apartment for rent in Philadelphia, PA.
How much is a studio apartment in Philadelphia, PA?
The average monthly rental price for studio apartments is $1,300 and an average price per square feet of $36.29. There are a total of 423 studio apartment listings currently available for rent in Philadelphia.
How much is a one bedroom apartment in Philadelphia, PA?
The average monthly rental price for one bedroom apartments is $1,582 and an average price per square feet of $32.25. There are a total of 1,635 one bedroom apartment listings currently available for rent in Philadelphia.
How much is a two bedroom apartment in Philadelphia, PA?
The average monthly rental price for two bedroom apartments is $1,795 and an average price per square feet of $24.00. There are a total of 1,488 two bedroom apartment listings currently available for rent in Philadelphia.
How have rent prices in Philadelphia, PA changed this year?
Rent prices for rentals in Philadelphia, PA can fluctuate yearly. Specifically, studio rental prices have changed by -0.11%, one bedroom rental prices have changed by 0.14%, two bedroom rental prices have changed by 0.10%, and three bedroom rental prices have changed by 0.07% year-over-year.
What is a reasonable rent price in Philadelphia, PA?
A reasonable rent price in Philadelphia, PA is around $1,400/month. You can search for these reasonably priced rental listings on RentHop.
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