Climbing one spot this month, Philadelphia ranked as the 14th most expensive rental market in the nation. The price of one bedroom units grew 0.7% to a median of $1,400, while two bedrooms increased a slight 0.6% to $1,600.
While Kensington and Avenue of the Arts North had some of the fastest growing rents since last quarter, both up over 10%, Center City West and Washington Square West had the biggest rent dips, both down around 7%.
This summer, while Logan Square and the areas around it continued to be the most expensive neighborhoods to rent, Northern Liberties – Fishtown and Center City East were other notably pricy areas as well.
More affordable rentals for around $1,000 could be found in South Philadelphia West, Powelton Village, and West Kensington.
If you’re interested in how Philly apartments for rent compare with the rest of the nation’s, check out our August National Rent Report, which analyzes over 1 million active listings available in the prior month.
To keep up to date with rent changes across the country, like or follow us on Facebook, Twitter, or Pinterest. In the market for a new place? Search all Philadelphia apartments for rent on Zumper now.
For a refresher on how we analyze our rental data, view our methodology blog post here.
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