Average Rent in Philadelphia, PA

Current Versus Historical Philadelphia, PA Rents

Philadelphia rentals average $1,345 for a studio rental to $2,600 for a 4-bedroom rental. The median price of all currently available listings is $1,850, 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 $30 (-2.12%) year-over-year from $1,430 to $1,400. 1-bedroom rentals prices have increased by $63 (3.80%) year-over-year from $1,645 to $1,707. 2-bedroom rentals prices have increased by $53 (2.90%) year-over-year from $1,842 to $1,895. 3-bedroom rentals prices have increased by $108 (5.44%) year-over-year from $1,992 to $2,100. 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 1.56% this month. 1-bedroom rents have gone up by 6.73% this month. 2-bedroom rents have gone up by 3.28% this month. 3-bedroom rents have gone up by 5.06% this month. 4-bedroom rents have gone up by 6.26% this month.

Beds	Price / Sqft	May 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$3.05	$1,400	$1,430 (-2.12%)	$1,321 (5.95%)
1 BR	$2.72	$1,707	$1,645 (3.80%)	$1,313 (30.06%)
2 BR	$1.91	$1,895	$1,842 (2.90%)	$1,696 (11.71%)
3 BR	$1.55	$2,100	$1,992 (5.44%)	$1,817 (15.60%)
4+ BR	$1.50	$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 1 cities nearby Philadelphia. The average rent in Philadelphia is currently $2,285 per month. Our records show that King of Prussia, PA, with an average rent of $2,285, is the most affordable city nearby. In contrast, the most expensive city near Philadelphia, PA is King of Prussia, PA. Monthly rents here are on average $2,285 per month.

Let's compare Philadelphia, PA's rent against other top cities nearby by bedroom size. One bedrooms are about 23.04% more affordable. Two bedrooms in Philadelphia, PA are about 49.22% more affordable. Finally, rent for three bedrooms are about 68.56% more affordable. Want more information? Check out the top 1 cities near Philadelphia, PA in the following chart.

City	Studio	1 Bed	2 Bed	All
King of Prussia, PA	N/A	$2,147	$2,761	$2,285

Top Neighborhoods Near Philadelphia

There are a total of 17 neighborhoods in or near Philadelphia. Some of these neighborhoods include North Philadelphia West, North Philadelphia East, and Point Breeze. We've included all of these top 17 neighborhoods in or near Philadelphia, PA in the following chart.

The average rent for these 17 neighborhoods in or near Philadelphia, PA is currently around $1,995 per month. A total of 5 neighborhoods have a lower average rent. Meaning, only twelve neighborhoods have a higher average rent than $1,995. Interestingly, the neighborhoods' average rent is higher than Philadelphia's average rent, which is only $1,850. Out of all the neighborhoods in or near Philadelphia, North Philadelphia West has the most affordable average rent at $1,645 per month. Whereas, at $2,948 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
North Philadelphia West, Philadelphia, PA	$975	$1,295	$1,600	$1,645
North Philadelphia East, Philadelphia, PA	$1,200	$1,385	$1,685	$1,663
Point Breeze, Philadelphia, PA	$1,215	$1,425	$1,795	$1,765
Kensington, Philadelphia, PA	$1,100	$1,495	$1,750	$1,785
Graduate Hospital, Philadelphia, PA	$1,395	$1,604	$2,375	$1,800
Center City East, Philadelphia, PA	$1,210	$1,880	$2,500	$1,900
Northern Liberties - Fishtown, Philadelphia, PA	$1,350	$1,716	$2,350	$1,930
Center City West, Philadelphia, PA	$1,482	$1,972	$3,000	$1,984
Washington Square West, Philadelphia, PA	$1,475	$1,895	$2,413	$1,995
Bella Vista - Southwark, Philadelphia, PA	$1,173	$1,500	$2,250	$2,045
Avenue of the Arts South, Philadelphia, PA	$1,200	$2,039	$2,986	$2,064
Rittenhouse Square, Philadelphia, PA	$1,618	$2,013	$3,168	$2,095
Manayunk, Philadelphia, PA	N/A	$1,375	$2,060	$2,098
Fairmount - Art Museum, Philadelphia, PA	$1,494	$1,985	$2,200	$2,191
Fitler Square, Philadelphia, PA	$1,678	$2,300	$3,715	$2,395
Logan Square, Philadelphia, PA	$1,802	$2,475	$3,600	$2,503
University City, Philadelphia, PA	$1,293	$2,901	$4,262	$2,948

Top Counties Near Philadelphia

There are a total of 17 counties located by Philadelphia, PA. Some of these counties include Philadelphia, PA, Upper Merion, PA, and Lower Merion, PA. The average rent for rentals in these counties is $2,295. 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 $1,850. Vice versa, with an average rent of $2,374, Lower Merion, PA is the most expensive county by Philadelphia, PA.

Typically, rent for studios in Philadelphia, PA is on par with the other counties nearby. In comparison, rent for one bedroom listings in Philadelphia, PA is on par with the other counties nearby. Finally, rent for two bedrooms in Philadelphia, PA is 29.19% more affordable than other counties nearby. We've listed the top 3 counties in the chart below.

County	Studio	1 Bed	2 Bed	All
Philadelphia, PA	$1,345	$1,745	$1,850	$1,850
Upper Merion, PA	N/A	$2,147	$2,761	$2,295
Lower Merion, PA	$1,780	$1,685	$2,390	$2,374

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 $1,795. 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 $1,350 per month. In comparison, the zipcode with the most expensive average rent of $2,300 per month is 19103, Philadelphia, PA.

Studios in these zipcodes have an average rent of $1,200. 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 $1,600 per month. Or in other words, $3 per sqft. Meanwhile, two bedroom apartments will cost you an average of $1,894 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	$1,648	$2,260	$3,482	$2,300
19121, Philadelphia, PA	$863	$1,381	$1,600	$1,750
19146, Philadelphia, PA	$1,238	$1,600	$1,863	$1,795
19122, Philadelphia, PA	$1,345	$1,395	$1,775	$1,700
19104, Philadelphia, PA	$1,293	$2,348	$1,962	$2,200
19125, Philadelphia, PA	$1,329	$1,615	$1,894	$1,940
19107, Philadelphia, PA	$1,173	$1,935	$2,503	$1,925
19130, Philadelphia, PA	$1,484	$1,850	$2,195	$2,186
19123, Philadelphia, PA	$1,252	$1,745	$2,332	$2,200
19147, Philadelphia, PA	$1,300	$1,750	$2,259	$2,200

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 $1,850. 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 $1,345 and an average price per square feet of $3.05. There are a total of 227 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 $1,745 and an average price per square feet of $2.72. There are a total of 1,046 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 $1.91. There are a total of 875 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 0.04%, two bedroom rental prices have changed by 0.03%, 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 $1,480/month. You can search for these reasonably priced rental listings on RentHop.