After several months of steady and declining rents, rates are rising again — locally and nationally. The most recent analysis from rental firm Zumper lists Philadelphia as the 18th most expensive market in the country.
In Philadelphia, the rent for a one-bedroom unit is up 2.8 percent to $1,490. That growth also represents an increase of 8 percent since this time last year. Rates for two bedrooms are up even more sharply to $1,700 — a 3 percent increase since last month and an 8.3 percent increase since last June.
Nationally, the median rent for a one-bedroom unit is up 1.1 percent to $1,198. Two bedrooms are up across the country as well, rising 1 percent to $1,436 per month. For one-bedroom rates, San Francisco (at $3,490 per month), New York ($2,860) and San Jose ($2,530) remain at the top of the list.
Providence, R.I.; Newark, N.J.; Buffalo, N.Y.; St. Petersburg, Fla., and Baton Rouge, La., made notable upward moves on the list, with increases hovering around 5 percent. On the other end of the spectrum, Anaheim, Calif.; Richmond, Va.; Salt Lake City, Virginia Beach and Corpus Christi, Texas, experienced the biggest dips in rent across the country.