Average Rent in Philadelphia, PA

Current Versus Historical Philadelphia, PA Rents

Philadelphia rentals average $1,351 for a studio rental to $2,500 for a 4-bedroom rental. The median price of all currently available listings is $1,800, or roughly $2 per square feet.

For the apartment units and housing in May 2024, median rents have been roughly unchanged over the last year. Studio rentals prices have decreased by $12 (-0.83%) year-over-year from $1,430 to $1,419. 1-bedroom rentals prices have increased by $51 (3.07%) year-over-year from $1,645 to $1,695. 2-bedroom rentals prices have increased by $33 (1.81%) year-over-year from $1,842 to $1,875. 3-bedroom rentals prices have increased by $106 (5.31%) year-over-year from $1,992 to $2,098. 4-bedroom rentals prices have increased by $85 (3.41%) year-over-year from $2,490 to $2,575. 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 2.44% this month. 1-bedroom rents have gone up by 6.25% this month. 2-bedroom rents have gone up by 2.55% this month. 3-bedroom rents have gone up by 4.99% this month. 4-bedroom rents have gone up by 6.19% this month.

Beds	Price / Sqft	May 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$3.12	$1,419	$1,430 (-0.83%)	$1,321 (7.35%)
1 BR	$2.65	$1,695	$1,645 (3.07%)	$1,313 (29.14%)
2 BR	$1.91	$1,875	$1,842 (1.81%)	$1,696 (10.53%)
3 BR	$1.51	$2,098	$1,992 (5.31%)	$1,817 (15.46%)
4+ BR	$1.42	$2,575	$2,490 (3.41%)	$2,404 (7.11%)

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 $2,383 per month. Only one city nearby has an average rent lower than that. Our records show that Wilmington, DE, with an average rent of $1,600, is the most affordable city nearby. In contrast, the most expensive city near Philadelphia, PA is Glassboro, NJ. Monthly rents here are on average $2,950 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 31.08% more affordable than other cities nearby. One bedrooms are about 7.59% more affordable. Two bedrooms in Philadelphia, PA are about 26.04% more affordable. Finally, rent for three bedrooms are about 33.75% 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
Wilmington, DE	$1,548	$1,550	$1,935	$1,600
Lansdale, PA	$1,993	$2,356	$3,187	$2,356
King of Prussia, PA	$2,300	$2,106	$2,716	$2,410
Glassboro, NJ	N/A	N/A	$1,550	$2,950

Top Neighborhoods Near Philadelphia

There are a total of 28 neighborhoods in or near Philadelphia. Some of these neighborhoods include Haddington, Cobbs Creek, and Kingsessing. We've included all of these top 28 neighborhoods in or near Philadelphia, PA in the following chart.

The average rent for these 28 neighborhoods in or near Philadelphia, PA is currently around $1,891 per month. A total of 11 neighborhoods have a lower average rent. Meaning, only seventeen neighborhoods have a higher average rent than $1,891. Interestingly, the neighborhoods' average rent is higher than Philadelphia's average rent, which is only $1,800. Out of all the neighborhoods in or near Philadelphia, Haddington has the most affordable average rent at $1,300 per month. Whereas, at $2,849 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
Haddington, Philadelphia, PA	$1,077	$1,200	$1,275	$1,300
Cobbs Creek, Philadelphia, PA	N/A	$1,138	$1,400	$1,400
Kingsessing, Philadelphia, PA	$1,038	$1,225	$1,500	$1,400
Germantown, Philadelphia, PA	$1,028	$1,338	$1,947	$1,430
Port Richmond, Philadelphia, PA	$1,500	$1,148	$1,584	$1,533
South Philadelphia West, Philadelphia, PA	$1,038	$1,265	$1,595	$1,595
Roxborough, Philadelphia, PA	$1,325	$1,610	$1,863	$1,650
North Philadelphia West, Philadelphia, PA	$1,213	$1,425	$1,600	$1,650
North Philadelphia East, Philadelphia, PA	$1,250	$1,395	$1,675	$1,690
Point Breeze, Philadelphia, PA	$1,284	$1,435	$1,765	$1,750
Kensington, Philadelphia, PA	$1,100	$1,500	$1,800	$1,750
East Germantown, Philadelphia, PA	$1,300	$1,840	$1,673	$1,850
Avenue of the Arts North, Philadelphia, PA	$750	$1,665	$1,550	$1,850
Northern Liberties - Fishtown, Philadelphia, PA	$1,427	$1,700	$2,350	$1,890
West Powelton, Philadelphia, PA	N/A	$1,590	$1,610	$1,892
Manayunk, Philadelphia, PA	$1,420	$1,500	$2,085	$1,899
Washington Square West, Philadelphia, PA	$1,270	$1,895	$2,253	$1,922
Bella Vista - Southwark, Philadelphia, PA	$1,095	$1,575	$2,250	$2,000
Center City East, Philadelphia, PA	$1,335	$1,900	$2,650	$2,015
Rittenhouse Square, Philadelphia, PA	$1,577	$2,106	$3,329	$2,103
Avenue of the Arts South, Philadelphia, PA	$1,200	$2,049	$2,995	$2,110
Center City West, Philadelphia, PA	$1,500	$2,100	$3,315	$2,150
Graduate Hospital, Philadelphia, PA	$1,342	$1,695	$2,425	$2,175
Fairmount - Art Museum, Philadelphia, PA	$1,474	$1,863	$2,200	$2,200
Mantua, Philadelphia, PA	N/A	$1,288	$1,800	$2,350
Fitler Square, Philadelphia, PA	$1,725	$2,295	$3,350	$2,400
Logan Square, Philadelphia, PA	$1,672	$2,398	$3,678	$2,500
University City, Philadelphia, PA	$1,335	$2,936	$4,317	$2,849

Top Counties Near Philadelphia

There are a total of 28 counties located by Philadelphia, PA. Some of these counties include Wilmington, DE, Philadelphia, PA, and Lower Merion, PA. The average rent for rentals in these counties is $2,353. 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 $1,600. Vice versa, with an average rent of $2,950, Glassboro, NJ is the most expensive county by Philadelphia, PA.

Typically, rent for studios in Philadelphia, PA is 29.10% more affordable than other counties nearby. In comparison, rent for one bedroom listings in Philadelphia, PA is 0.62% more affordable than other counties nearby. Finally, rent for two bedrooms in Philadelphia, PA is 17.48% more affordable than other counties nearby. We've listed the top 6 counties in the chart below.

County	Studio	1 Bed	2 Bed	All
Wilmington, DE	$1,548	$1,550	$1,935	$1,600
Philadelphia, PA	$1,351	$1,699	$1,845	$1,800
Lower Merion, PA	$1,940	$1,720	$2,400	$2,350
Lansdale, PA	$1,993	$2,356	$3,187	$2,356
Upper Merion, PA	$2,300	$2,106	$2,710	$2,424
Glassboro, NJ	N/A	N/A	$1,550	$2,950

Top Zipcodes Near Philadelphia

There are a total of 26 zipcodes in or near Philadelphia, PA. The average rent for all of these zipcodes is $1,775. A total of 15 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 19140, Philadelphia, PA at $1,275 per month. In comparison, the zipcode with the most expensive average rent of $2,950 per month is 08028, Glassboro, NJ.

Studios in these zipcodes have an average rent of $1,253. 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 $1,567 per month. Or in other words, $2 per sqft. Meanwhile, two bedroom apartments will cost you an average of $1,893 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	$1,638	$2,220	$3,561	$2,285
19121, Philadelphia, PA	$1,225	$1,435	$1,600	$1,750
19146, Philadelphia, PA	$1,298	$1,595	$1,970	$1,800
19122, Philadelphia, PA	$1,342	$1,425	$1,750	$1,717
19104, Philadelphia, PA	$1,302	$2,261	$1,900	$2,100
19125, Philadelphia, PA	$1,281	$1,587	$1,885	$1,800
19107, Philadelphia, PA	$1,200	$1,900	$2,615	$1,935
19130, Philadelphia, PA	$1,474	$1,805	$2,200	$2,191
19123, Philadelphia, PA	$1,303	$1,585	$2,225	$1,950
19147, Philadelphia, PA	$1,363	$1,800	$2,259	$2,100

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 $1,800. 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 $1,351 and an average price per square feet of $3.12. There are a total of 432 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 $1,699 and an average price per square feet of $2.65. There are a total of 1,794 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 $1,845 and an average price per square feet of $1.91. There are a total of 1,565 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 -0.01%, one bedroom rental prices have changed by 0.03%, two bedroom rental prices have changed by 0.02%, and three bedroom rental prices have changed by 0.05% year-over-year.

What is a reasonable rent price in Philadelphia, PA?

A reasonable rent price in Philadelphia, PA is around $1,440/month. You can search for these reasonably priced rental listings on RentHop.