Philadelphia rents up for seventh straight month

Rents in Philadelphia continue to rise, with one-bedrooms at about $970.

It’s another new month, so you know what that means: A new rental agency report reminding us how expensive apartments are in this town. This one comes courtesy of Apartment List, and the news is not surprising: Rents are up month-to-month, and they’re up compared with September 2016.

This month’s report indicates that rents have risen about 0.2 percent, with one-bedrooms at about $970 and $1,170 for a two-bedroom (though these rates stand in contrast to last month’s Zumper report). The report also shows that this is the city’s seventh consecutive month of rising rental rates. The year-over-year growth shows a rise of 1.9 percent, just under the commonwealth average of 2 percent and the national average for growth of 3 percent.

Compared to the rest of the nation, our expensive city isn’t in the worst straits, if you believe the Apartment List numbers over the Zumper figures. It puts the city just slightly above the national average for two-bedroom rentals ($1,160) and well behind national rental nightmares Seattle, San Francisco and New York.

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