Average Rent in Philadelphia, PA

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Current Versus Historical Philadelphia, PA Rents

Philadelphia rentals average $1,342 for a studio rental to $2,495 for a 4-bedroom rental. The median price of all currently available listings is $1,750, or roughly $2 per square feet.
For the apartment units and housing in March 2024, median rents have been roughly unchanged over the last year. Studio rentals prices have decreased by $66 (-4.65%) year-over-year from $1,414 to $1,348. 1-bedroom rentals prices have increased by $47 (3.04%) year-over-year from $1,548 to $1,595. 2-bedroom rentals prices have increased by $75 (4.29%) year-over-year from $1,750 to $1,825. 3-bedroom rentals prices have increased by $200 (11.11%) year-over-year from $1,800 to $2,000. 4-bedroom rentals prices have increased by $104 (4.23%) year-over-year from $2,463 to $2,568. 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 up by 0.15% this month. 1-bedroom rents have gone up by 7.17% this month. 2-bedroom rents have gone up by 4.89% this month. 3-bedroom rents have gone up by 5.36% this month. 4-bedroom rents have gone up by 4.97% this month.
Beds
Price / Sqft
Mar 2024 Rent 1 Yr Ago Rent (% +/-) 3 Yr Ago Rent (% +/-)
Studio $2.98 $1,348 $1,414 (-4.65%) $1,209 (11.53%)
1 BR $2.39 $1,595 $1,548 (3.04%) $1,249 (27.69%)
2 BR $1.80 $1,825 $1,750 (4.29%) $1,638 (11.39%)
3 BR $1.48 $2,000 $1,800 (11.11%) $1,667 (20.00%)
4+ BR $1.39 $2,568 $2,463 (4.23%) $2,433 (5.51%)

Historical Rents in Philadelphia, PA

Studio
1 Bed
2 Bed
3 Bed
4 Bed

Top Cities Near Philadelphia

There are a total of 5 cities nearby Philadelphia. The average rent in Philadelphia is currently $2,150 per month. Only one city nearby has an average rent lower than that. Our records show that Wilmington, DE, with an average rent of $1,698, is the most affordable city nearby. In contrast, the most expensive city near Philadelphia, PA is Glassboro, NJ. Monthly rents here are on average $2,900 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 26.04% more affordable than other cities nearby. One bedrooms are about 9.72% more affordable. Two bedrooms in Philadelphia, PA are about 27.50% more affordable. Finally, rent for three bedrooms are about 41.77% more affordable. Want more information? Check out the top 5 cities near Philadelphia, PA in the following chart.
City Studio 1 Bed 2 Bed All
Wilmington, DE $1,348 $1,495 $1,745 $1,698
Lansdale, PA $1,780 $2,047 $3,571 $2,047
Phoenixville, PA $1,773 $1,750 $2,295 $2,150
King of Prussia, PA $1,692 $1,993 $2,671 $2,462
Glassboro, NJ N/A N/A $1,550 $2,900

Top Neighborhoods Near Philadelphia

There are a total of 27 neighborhoods in or near Philadelphia. Some of these neighborhoods include Kingsessing, Cobbs Creek, and Germantown. 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 $1,795 per month. A total of 12 neighborhoods have a lower average rent. Meaning, only fifteen neighborhoods have a higher average rent than $1,795. Interestingly, the neighborhoods' average rent is higher than Philadelphia's average rent, which is only $1,750. Out of all the neighborhoods in or near Philadelphia, Kingsessing has the most affordable average rent at $1,350 per month. Whereas, at $3,057 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
Kingsessing, Philadelphia, PA $975 $1,200 $1,343 $1,350
Cobbs Creek, Philadelphia, PA N/A $1,025 $1,325 $1,350
Germantown, Philadelphia, PA $900 $1,333 $1,662 $1,367
Port Richmond, Philadelphia, PA $1,035 $1,296 $1,450 $1,525
South Philadelphia West, Philadelphia, PA $1,125 $1,245 $1,700 $1,598
Roxborough, Philadelphia, PA $1,375 $1,595 $1,795 $1,600
North Philadelphia East, Philadelphia, PA $1,295 $1,400 $1,600 $1,615
East Germantown, Philadelphia, PA N/A $1,325 $1,695 $1,685
Manayunk, Philadelphia, PA $1,400 $1,523 $1,875 $1,700
North Philadelphia West, Philadelphia, PA $1,230 $1,420 $1,600 $1,700
Washington Square West, Philadelphia, PA $1,300 $1,728 $2,198 $1,750
Kensington, Philadelphia, PA $1,155 $1,350 $1,785 $1,750
Point Breeze, Philadelphia, PA $1,335 $1,365 $1,750 $1,795
Spruce Hill, Philadelphia, PA $900 $1,248 $1,848 $1,795
Avenue of the Arts North, Philadelphia, PA $1,238 $1,795 $1,385 $1,798
Avenue of the Arts South, Philadelphia, PA $1,225 $1,868 $2,533 $1,900
Northern Liberties - Fishtown, Philadelphia, PA $1,405 $1,695 $2,320 $1,910
Fairmount - Art Museum, Philadelphia, PA $1,385 $1,615 $2,000 $1,963
Bella Vista - Southwark, Philadelphia, PA $1,000 $1,523 $2,300 $1,995
Center City East, Philadelphia, PA $1,395 $1,800 $2,575 $2,000
Rittenhouse Square, Philadelphia, PA $1,638 $2,194 $2,523 $2,073
Center City West, Philadelphia, PA $1,475 $2,079 $3,400 $2,092
Mantua, Philadelphia, PA N/A $1,385 $1,588 $2,100
Graduate Hospital, Philadelphia, PA $1,136 $1,650 $2,295 $2,175
Fitler Square, Philadelphia, PA $1,725 $1,990 $2,975 $2,197
Logan Square, Philadelphia, PA $1,699 $2,370 $3,475 $2,477
University City, Philadelphia, PA $1,417 $3,078 $3,620 $3,057

Top Counties Near Philadelphia

There are a total of 27 counties located by Philadelphia, PA. Some of these counties include Wilmington, DE, Philadelphia, PA, and Lansdale, PA. The average rent for rentals in these counties is $2,150. That's roughly around $2 per sqft. A total of 2 counties have a lower average rent. The county that is the most affordable is Wilmington, DE. It's average rent per month is $1,698. Vice versa, with an average rent of $2,900, Glassboro, NJ is the most expensive county by Philadelphia, PA.

Typically, rent for studios in Philadelphia, PA is 24.14% more affordable than other counties nearby. In comparison, rent for one bedroom listings in Philadelphia, PA is 9.72% more affordable than other counties nearby. Finally, rent for two bedrooms in Philadelphia, PA is 27.50% more affordable than other counties nearby. We've listed the top 7 counties in the chart below.
County Studio 1 Bed 2 Bed All
Wilmington, DE $1,348 $1,495 $1,745 $1,698
Philadelphia, PA $1,342 $1,595 $1,800 $1,750
Lansdale, PA $1,780 $2,047 $3,571 $2,047
Phoenixville, PA $1,773 $1,750 $2,295 $2,150
Lower Merion, PA $1,666 $1,803 $2,323 $2,293
Upper Merion, PA $1,692 $1,993 $2,677 $2,495
Glassboro, NJ N/A N/A $1,550 $2,900

Top Zipcodes Near Philadelphia

There are a total of 29 zipcodes in or near Philadelphia, PA. The average rent for all of these zipcodes is $1,800. A total of 12 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 $1,250 per month. In comparison, the zipcode with the most expensive average rent of $2,900 per month is 08028, Glassboro, NJ.

Studios in these zipcodes have an average rent of $1,250. That's at least $3 per sqft. Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near Philadelphia, PA is $1,453 per month. Or in other words, $2 per sqft. Meanwhile, two bedroom apartments will cost you an average of $1,810 per month. Which comes out to $2 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
19103, Philadelphia, PA $1,585 $2,150 $3,400 $2,230
19121, Philadelphia, PA $1,230 $1,420 $1,600 $1,800
19146, Philadelphia, PA $1,223 $1,495 $2,000 $1,895
19122, Philadelphia, PA $1,295 $1,453 $1,850 $1,695
19104, Philadelphia, PA $1,332 $1,632 $1,800 $1,975
19125, Philadelphia, PA $1,289 $1,447 $1,875 $1,838
19107, Philadelphia, PA $1,250 $1,750 $2,250 $1,800
19130, Philadelphia, PA $1,385 $1,647 $2,015 $1,875
19123, Philadelphia, PA $1,285 $1,670 $2,200 $1,900
19147, Philadelphia, PA $1,100 $1,673 $2,275 $2,000

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 $1,342 and an average price per square feet of $2.98. There are a total of 354 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 $1,595 and an average price per square feet of $2.39. There are a total of 1,552 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 $1,800 and an average price per square feet of $1.80. There are a total of 1,508 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 -0.05%, one bedroom rental prices have changed by 0.03%, two bedroom rental prices have changed by 0.04%, and three bedroom rental prices have changed by 0.11% 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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