Monthly apartment rent and rental growth in Philadelphia, PA, 2018-2023
The median rent for one- and two-bedroom apartments in Philadelphia, Pennsylvania, amounted to about 1,390 U.S. dollars at the end of 2023. While the median rent decreased slightly between March 2020 and March 2021, the annual rental growth exceeded 15 percent in January 2022. Furthermore, no notable variation in rental growth was observed in December 2023 in comparison to previous years. Among the different states in the U.S., Pennsylvania ranks as one of the mid-priced rental markets in 2023.