Reports: Philly rent is still too high
A look at local rental rates in April confirms the never-ending trend in the 215.
Surprise! The rent is still going up in Philadelphia. To be fair, rent is actually on the rise just about everywhere, driving exactly the kinds of social outcomes you might expect. A look at local rental rates in April confirms the never-ending trend in the 215.
Rental agency Zumper found the median one-bedroom rental rate was up nationally by about 1 percent to $1,390. By their math, Philadelphia is the 14th-most expensive city to rent a one-bedroom, with median costs coming in at $1,360 for a one-bedroom (a 0.7 percent increase since last April) and $1,580 for a two-bedroom (an increase of 8.2 percent over last year).
Abodo has slightly more encouraging news on the national level – reporting that the median one-bedroom rent will run you about $1, 012. In Philadelphia, they calculate the median one-bedroom cost to be $1,076 while a two-bedroom will cost about $1,515.
Both reports agree that San Francisco, New York and San Jose (in that order) are probably out of your price range, with median one-bedroom costs coming in around $3,400, $2,800 and $2,400 respectively.
Know of an interesting property in the Philadelphia or South Jersey region? E-mail us!