Climbing a spot this month, Philadelphia tied with Long Beach as the 14th most expensive rental market in the nation. The price of one and two bedroom units settled at $1,360 and $1,580, respectively. Since this time last year, the price of two bedrooms is up over 8%.
Bella Vista – Southwark and Kensington had some of the fastest growing rents this quarter, both up over 12%.
Logan Square ($1,850), Center City West ($1,780), and Avenue of the Arts South ($1,675) were the most expensive neighborhoods to rent this spring. Meanwhile, rentals for less than $1,000 could be found in and around Point Breeze, Cedar Park, and East Parkside.
In Camden, Cooper Grant ($1,000), Fairview ($850), and Dudley ($825) were the priciest areas to rent.
If you’re interested in how Philly rents compare with the rest of the nation’s, check out our May National Rent Report, which analyzes over 1 million active listings available in the prior month.
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