Coming ahead of Portland, Atlanta, and Minneapolis, Philadelphia ranked as the 16th most expensive city to rent with the price of one and two bedroom units settling at at $1,500 and $1,700, respectively. Notably, on a year over year level, one bedroom rent is up 7.1%.
East Falls and Point Breeze had some of the fastest growing rents since last quarter, both up over 14%.
This summer, Logan Square ($1,900), Riverfront ($1,890), and Center City East ($1,700) were the most expensive neighborhoods to rent. More affordable rentals, priced closer to the city’s one bedroom median of $1,500, could be found in Fishtown – Lower Kensington, Washington Square West, and Spring Garden.
Meanwhile, Millbrook and McGuire remained the least expensive areas, both priced at less than $600.
If you’re interested in how Philly rents compare with the rest of the nation’s, check out our August National Rent Report, which analyzes over 1 million active listings available in the prior month.
To keep up to date with rent changes across the country, like or follow us on Facebook, Gazouillement, ou Pinterest. In the market for a new place? Search over all Philadelphia apartments for rent on Zumper now.
For a refresher on our methodology, check out our post here.
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