Average Rent in Philadelphia, PA

Current Versus Historical Philadelphia, PA Rents

Philadelphia rentals average $1,399 for a studio rental to $2,500 for a 4-bedroom rental. The median price of all currently available listings is $1,823, or roughly $2 per square feet.

For the apartment units and housing in April 2024, median rents have been roughly unchanged over the last year. Studio rentals prices have decreased by $24 (-1.68%) year-over-year from $1,406 to $1,383. 1-bedroom rentals prices have increased by $45 (2.85%) year-over-year from $1,580 to $1,625. 2-bedroom rentals prices have decreased by $25 (-1.37%) year-over-year from $1,825 to $1,800. 3-bedroom rentals prices have increased by $75 (3.90%) year-over-year from $1,925 to $2,000. 4-bedroom rentals prices have decreased by $122 (-4.82%) year-over-year from $2,522 to $2,400. 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 0.41% this month. 1-bedroom rents have gone up by 6.07% this month. 2-bedroom rents have gone up by 1.03% this month. 3-bedroom rents have gone up by 4.35% this month. 4-bedroom rents have gone up by 2.86% this month.

Beds	Price / Sqft	Apr 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$3.05	$1,383	$1,406 (-1.68%)	$1,325 (4.31%)
1 BR	$2.65	$1,625	$1,580 (2.85%)	$1,305 (24.52%)
2 BR	$1.97	$1,800	$1,825 (-1.37%)	$1,663 (8.22%)
3 BR	$1.55	$2,000	$1,925 (3.90%)	$1,733 (15.38%)
4+ BR	$1.49	$2,400	$2,522 (-4.82%)	$2,451 (-2.07%)

Historical Rents in Philadelphia, PA

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Philadelphia

There are a total of 2 cities nearby Philadelphia. The average rent in Philadelphia is currently $2,607 per month. Our records show that King of Prussia, PA, with an average rent of $2,313, 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 40.21% more expensive than other cities nearby. One bedrooms are about 40.56% more expensive. Two bedrooms in Philadelphia, PA are about 9.35% more affordable. Finally, rent for three bedrooms are about 28.49% more affordable. Want more information? Check out the top 2 cities near Philadelphia, PA in the following chart.

City	Studio	1 Bed	2 Bed	All
King of Prussia, PA	$1,673	$2,052	$2,546	$2,313
Glassboro, NJ	N/A	N/A	$1,500	$2,900

Top Neighborhoods Near Philadelphia

There are a total of 20 neighborhoods in or near Philadelphia. Some of these neighborhoods include Germantown, South Philadelphia West, and North Philadelphia East. We've included all of these top 20 neighborhoods in or near Philadelphia, PA in the following chart.

The average rent for these 20 neighborhoods in or near Philadelphia, PA is currently around $1,974 per month. A total of 8 neighborhoods have a lower average rent. Meaning, only twelve neighborhoods have a higher average rent than $1,974. Interestingly, the neighborhoods' average rent is higher than Philadelphia's average rent, which is only $1,823. Out of all the neighborhoods in or near Philadelphia, Germantown has the most affordable average rent at $1,450 per month. Whereas, at $3,011 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
Germantown, Philadelphia, PA	$900	$1,338	$1,832	$1,450
South Philadelphia West, Philadelphia, PA	$950	$1,265	$1,600	$1,600
North Philadelphia East, Philadelphia, PA	$1,295	$1,447	$1,738	$1,618
North Philadelphia West, Philadelphia, PA	$1,110	$1,208	$1,600	$1,700
Point Breeze, Philadelphia, PA	$1,315	$1,395	$1,800	$1,795
Avenue of the Arts North, Philadelphia, PA	$1,000	$1,670	$1,850	$1,800
Kensington, Philadelphia, PA	$1,493	$1,595	$1,800	$1,800
Northern Liberties - Fishtown, Philadelphia, PA	$1,329	$1,695	$2,353	$1,810
Graduate Hospital, Philadelphia, PA	$1,410	$1,695	$2,148	$1,900
Washington Square West, Philadelphia, PA	$1,275	$1,895	$2,675	$1,950
Manayunk, Philadelphia, PA	$1,420	$1,550	$1,925	$1,998
Rittenhouse Square, Philadelphia, PA	$1,564	$2,100	$3,250	$2,000
Center City East, Philadelphia, PA	$1,650	$1,900	$2,895	$2,025
Center City West, Philadelphia, PA	$1,390	$2,054	$3,195	$2,080
Bella Vista - Southwark, Philadelphia, PA	$1,145	$1,800	$2,259	$2,100
Avenue of the Arts South, Philadelphia, PA	$1,745	$2,119	$3,018	$2,175
Fairmount - Art Museum, Philadelphia, PA	$1,547	$1,828	$2,200	$2,200
Logan Square, Philadelphia, PA	$1,623	$2,185	$3,429	$2,315
Fitler Square, Philadelphia, PA	$1,868	$2,100	$3,692	$2,493
University City, Philadelphia, PA	$1,312	$2,973	$4,299	$3,011

Top Counties Near Philadelphia

There are a total of 20 counties located by Philadelphia, PA. Some of these counties include Philadelphia, PA, Lower Merion, PA, and Upper Merion, PA. The average rent for rentals in these counties is $2,292. That's roughly around $2 per sqft. A total of 1 counties have a lower average rent. The county that is the most affordable is Philadelphia, PA. It's average rent per month is $1,823. 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 50.00% more expensive than other counties nearby. In comparison, rent for one bedroom listings in Philadelphia, PA is 1.85% more affordable than other counties nearby. Finally, rent for two bedrooms in Philadelphia, PA is 9.39% more affordable than other counties nearby. We've listed the top 4 counties in the chart below.

County	Studio	1 Bed	2 Bed	All
Philadelphia, PA	$1,399	$1,726	$1,850	$1,823
Lower Merion, PA	N/A	$1,790	$2,198	$2,255
Upper Merion, PA	$1,673	$2,052	$2,519	$2,330
Glassboro, NJ	N/A	N/A	$1,500	$2,900

Top Zipcodes Near Philadelphia

There are a total of 21 zipcodes in or near Philadelphia, PA. The average rent for all of these zipcodes is $1,815. 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 19139, Philadelphia, PA at $1,335 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 $1,329. 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 $1,552 per month. Or in other words, $3 per sqft. Meanwhile, two bedroom apartments will cost you an average of $1,895 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	$1,603	$2,100	$3,353	$2,168
19121, Philadelphia, PA	$1,029	$1,250	$1,600	$1,750
19146, Philadelphia, PA	$1,373	$1,545	$1,893	$1,795
19122, Philadelphia, PA	$1,295	$1,495	$1,800	$1,745
19104, Philadelphia, PA	$1,303	$2,826	$2,016	$2,300
19125, Philadelphia, PA	$1,329	$1,552	$1,895	$1,800
19107, Philadelphia, PA	$1,375	$2,021	$2,912	$2,115
19130, Philadelphia, PA	$1,494	$1,715	$2,195	$2,100
19123, Philadelphia, PA	$1,330	$1,595	$2,325	$1,890
19147, Philadelphia, PA	$1,300	$1,788	$2,375	$2,150

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 $1,823. 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 $1,399 and an average price per square feet of $3.05. There are a total of 261 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 $1,726 and an average price per square feet of $2.65. There are a total of 1,117 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 $1,850 and an average price per square feet of $1.97. There are a total of 911 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 -0.02%, one bedroom rental prices have changed by 0.03%, two bedroom rental prices have changed by -0.01%, and three bedroom rental prices have changed by 0.04% year-over-year.

What is a reasonable rent price in Philadelphia, PA?

A reasonable rent price in Philadelphia, PA is around $1,458/month. You can search for these reasonably priced rental listings on RentHop.