Philadelphia Rent Growth Slows Down

The Rent trend data in Philadelphia, Pennsylvania

Philadelphia Average Rent

As of October 2017, average rent for an apartment in Philadelphia, PA is $1580 which is a 15.38% decrease from last year when the average rent was $1823 , and a 0.44% decrease from last month when the average rent was $1587.

One bedroom apartments in Philadelphia rent for $1404 a month on average (a 17.95% decrease from last year) and two bedroom apartment rents average $1738 (a 21.35% decrease from last year).

Beds Rent
All beds 1,580
1 beds 1,404
2 beds 1,738

Philadelphia Average Rent By Neighborhood

Neighborhood Rent
Fairmount-Spring Garden 2,193
City Center West 2,109
Riverfront 2,073
City Center East 2,056
North Central 1,851
Poplar-Ludlow-Yorktowne 1,835
Wharton-Hawthorne-Bella Vista 1,823
Cobbs Creek 1,623
Fishtown 1,588
Schuylkill Southwest 1,557
South Philadelphia 1,532
Hartranft 1,524
Chestnut Hill 1,520
Kensington 1,464
Pennsport-Whitman-Queen 1,436
Wynnefield 1,410
Manayunk 1,395
Belmont 1,384
Roxborough 1,311
East Falls 1,305
Brewerytown 1,300
Point Breeze 1,261
Girard Estates 1,215
Alleghany West 1,208
Marconi Plaza-Packer Park 1,195
Holmesburry-Torresdale 1,160
Mount Airy 1,152
Eastwick 1,075
Torresdale 1,074
Richmond 1,022
Germantown 1,006
Academy Gardens 1,006
Summerdale 1,000
Strawberry Mansion 975
Bustleton 965
Morris Park 947
Somerton 944
Cedar Brook 924
Oxford Circle 917
Mayfield 912
Grays Ferry 899
Tioga-Nicetown 882
Byberry 880
Haddington-Carroll Park 877
Fox Chase 873
Rhawnhurst 859
Oak Lane 824
Wissanoning 798
Hunting Park 794
Logan-Fern Rock 794
Fairhill 789
Olney 767
Frankford 761

The most expensive Philadelphia neighborhoods to rent houses in are Fairmount-Spring Garden, City Center West, and Riverfront.

The least expensive Philadelphia neighborhoods to rent houses in are Frankford, Olney, and Fairhill.

Is It Time to Sell Your Home in Philadelphia?

 

 

Is It Time to Sell Your Home in Philadelphia?

1. You Want Extra Space!

Whether or not you’ve added members of the family or just added extra stuff, in case you are feeling crowded, it might be time to maneuver on. As you household grows, you’ll inevitably want more room. Not only for folks, however for all that extra objects ! Or perhaps you might be working from house, and really want that workplace to achieve success. Have you ever all the time wished a person (or lady) cave however have by no means had area? No matter your motive, in case you are restricted in your personal house, and including an addition isn’t possible, it’s time to go!

2. Empty Nest

However, in case your children have moved out, or the home merely feels too huge, it is perhaps time to consider downsizing right into a smaller house. Not solely will the house require much less upkeep, however you’ll save on utility and property taxes. Offloading years off accrued “stuff” could be a huge stress aid and even put some money in your pocket must you maintain an property sale. Cleansing a house and sustaining a big yard can change into more and more burdensome as you become old.

3. Your Group Has Modified

While you moved in, it was a quiet neighborhood with just a few households. However now, there are main roads working by, a espresso store on the nook and folks and visitors all over the place! Possibly crime charges have risen, or the addition of contemporary properties has affected your property taxes. Do you reside someplace with a inflexible HOA? In case you don’t LOVE the neighborhood you reside in, you may wish to take into consideration relocating to a location you’ll love!

4. You Can’t Stand The Climate

Do you end up all the time complaining in regards to the warmth and humidity? Or perhaps that you’re nonetheless getting snow in Might and you might be sick and uninterested in it! No one ought to reside in a spot the place they’re sad. Cease losing time dwelling in a local weather that you simply aren’t suited to. Now it the time to promote, and relocate to a spot the place you may benefit from the climate 12 months spherical!

 

5. Spending Extra Time Commuting Than With Your Family

Spending time along with your family and friends is so essential in sustaining your happiness. Commute occasions are longer than ever and individuals are spending hours a day of their automobile or on public transport. In the long term, lacking out on high quality time, and feeling stress to get house earlier than the children go to sleep, aren’t the type of recollections most individuals wish to make. Transferring nearer to your job will prevent time, cash and decrease your stress ranges!

Have you ever been excited about promoting your Philadelphia house? We will reply all of your questions and allow you to know what to anticipate!