Philadelphia, PA Rental Market
Philadelphia is one of the largest and most dynamic rental markets in the Northeast, anchored by an extraordinary concentration of universities and hospitals. The University of Pennsylvania, Drexel University, Temple University, Jefferson Health, and Penn Medicine together employ and enroll hundreds of thousands of people, creating year-round rental demand across all price points. The Philadelphia Inquirer once called it "the most rentable city in America" — with a renter majority population, a walkable rowhouse stock, and rents far below New York and DC, Philadelphia offers investors one of the strongest yield profiles among major East Coast cities.
Get a rent estimate for an address in PhiladelphiaAverage Rent in Philadelphia, PA
$1,550
per month · 2026-06
Market Score
Key Facts — Philadelphia, PA Rental Market
- Average rent in Philadelphia, PA:$1,550/mo
- Median rent:$1,426/mo
- Rent range:$775 – $3,400/mo
- Most common rental (2 bedrooms):$1,375/mo
- Active listings:5,500
- Avg days to lease:27 days
- Year-over-year change:+3.8%
- Median home value:$240,000
- Est. gross annual yield:7.8%
- Data as of:2026-06
Rent by Bedroom in Philadelphia, PA
Average monthly rent for each bedroom type based on current active listings in Philadelphia.
| Bedroom Type | Avg Rent/mo |
|---|---|
1 Bedroom | $1,125/mo |
2 Bedrooms | $1,375/mo |
3 Bedrooms | $1,725/mo |
4 Bedrooms | $2,150/mo |
5 Bedrooms | $2,450/mo |
Philadelphia Rental Market Statistics
Key indicators from the current Philadelphia, PA rental market.
5,500
Available now in Philadelphia
27
From list to lease
$1.15
Average across listings
1,350 sq ft
Typical rental size
$775 – $3,400
Min to max active listings
+3.8%
Avg rent vs. prior year
Investing in Philadelphia, PA Rental Properties
Estimated returns based on current market rents and median home values. Perform full due diligence before investing.
Median Home Value
$240,000
Typical purchase price in Philadelphia
Est. Gross Annual Yield
7.8%
Before expenses & vacancy
Avg Monthly Income
$1,550
At average market rent
Gross yield = (avg rent × 12) ÷ median home value. Does not include expenses, financing, vacancies, or management fees. Analyze a specific property in Philadelphia for a full cash-flow breakdown including all costs.
Philadelphia, PA Rental Market FAQ
Common questions about renting and investing in Philadelphia, PA.
What is the average rent in Philadelphia, PA?
The average rent in Philadelphia, PA is $1,550 per month as of 2026. One-bedroom apartments average $1,125/mo, two-bedrooms average $1,375/mo, and three-bedroom rowhouses average $1,725/mo. Rents vary dramatically by neighborhood — Center City, Rittenhouse Square, and Fishtown command premiums, while neighborhoods like West Philly and North Philly offer significantly lower rents.
Is Philadelphia a good place to invest in rental property?
Philadelphia offers a 7.8% estimated gross yield — among the highest of any major Northeast city — driven by a low median home value near $240,000 and deep, year-round demand from university students, healthcare workers, and young professionals. The city's dominant renter culture, rowhouse stock, and Ivy League anchor (University of Pennsylvania) create a broad, stable investor opportunity set.
What neighborhoods in Philadelphia have the strongest rental demand?
Center City, Rittenhouse Square, Fishtown, Northern Liberties, and University City (near Penn and Drexel) consistently have the fastest lease-up times. Graduate Hospital and South Philadelphia are strong value plays with below-average prices and strong family demand. West Philadelphia benefits from Penn and Drexel spillover and has seen rising rents as those campuses expand.
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