Philadelphia Rental Market Data & Rent Estimates

Median rents, rental comps, and market trends across 22 zip codes in Philadelphia, PA.

Large, affordable East Coast market with strong rental demand from healthcare and universities. Great fundamentals on paper, but nobody warns you about the Philly wage tax until it shows up in your pro forma. Factor it in early.

Median Asking Rent

$1,751

Rent Change (YoY)

-2.4%

Avg Days on Market

Active Rental Listings

10,056

Median List Price

$281,500

Median Asking Rent Over Time

Average across 22 zip codes

12 months-3.0%

Median Asking Rent by ZIP Code

Rental Listings by ZIP Code

ZIP	Median Rent	YoY Growth	$/Sqft	Avg DOM	Listings
19103	$2,278/mo	-0.7%	$3.21	49	1,129
19102	$2,103/mo	+1.3%	$3.21	45	377
19123	$2,033/mo	+1.7%	$2.98	36	830
19107	$1,900/mo	-2.6%	$3.20	60	749
19130	$1,850/mo	-4.6%	$2.80	51	1,004
19125	$1,800/mo	0.0%	$2.18	51	530
19148	$1,700/mo	-2.9%	$1.75	40	181
19121	$1,650/mo	-1.5%	$1.48	83	887
19145	$1,650/mo	-2.9%	$1.65	49	241
19104	$1,625/mo	-11.4%	$2.49	51	1,344
19152	$1,600/mo	-3.0%	$1.70	69	55
19143	$1,550/mo	-3.1%	$1.76	39	574
19136	$1,500/mo	+0.3%	$1.63	42	81
19149	$1,500/mo	-9.1%	$1.43	41	48
19119	$1,495/mo	+3.8%	$1.75	38	295
19131	$1,487/mo	-9.9%	$1.48	58	255
19111	$1,400/mo	+3.3%	$1.55	57	158
19144	$1,400/mo	-3.4%	$1.78	54	468
19134	$1,350/mo	-6.9%	$1.57	51	362
19120	$1,300/mo	+4.0%	$1.26	60	91
19124	$1,254/mo	+4.5%	$1.32	61	147
19140	$1,230/mo	-8.9%	$1.32	58	250

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Median Asking Rent by Bedroom

Unit Size	Median Rent	$/Sqft
Studio	$1,200/mo	$2.45/sqft
1 Bedroom	$1,298/mo	$1.80/sqft
2 Bedroom	$1,538/mo	$1.69/sqft
3 Bedroom	$1,900/mo	$1.52/sqft
4 Bedroom	$2,200/mo	$1.48/sqft

Aggregated median across all Philadelphia zip codes with available data.

For-Sale Listings by ZIP Code

ZIP	Median List Price	YoY Change	$/Sqft
19123	$615,000	+3.4%	$326.56
19130	$500,000	0.0%	$342.11
19103	$499,000	+2.9%	$483.38
19102	$460,000	+2.2%	$400.42
19125	$429,000	+3.4%	$292.22
19119	$375,000	-11.8%	$238.04
19152	$349,750	+0.5%	$238.32
19148	$319,999	+6.7%	$258.00
19107	$319,900	-7.3%	$360.36
19111	$309,999	-1.6%	$217.01
19145	$304,999	+1.7%	$240.20
19149	$258,000	+1.2%	$204.48
19136	$240,000	-4.0%	$188.55
19121	$239,000	-4.4%	$190.38
19143	$210,000	+5.1%	$169.49
19120	$199,900	0.0%	$167.22
19104	$195,000	-26.7%	$199.49
19144	$194,500	-2.7%	$161.29
19124	$185,000	+1.6%	$152.78
19131	$170,000	-8.1%	$155.72
19134	$135,000	-12.8%	$141.59
19140	$124,700	+8.4%	$125.48

HUD Fair Market Rents

Unit Size	Fair Market Rent	Median Asking Rent	Difference
Studio	$2,100/mo	$1,200/mo	-43%
1 Bedroom	$2,280/mo	$1,298/mo	-43%
2 Bedroom	$2,720/mo	$1,538/mo	-43%
3 Bedroom	$3,260/mo	$1,900/mo	-42%
4 Bedroom	$3,640/mo	$2,200/mo	-40%

Fair Market Rents are published annually by HUD for the Philadelphia metropolitan area. Local housing authorities use these to set Section 8 voucher payment standards, typically between 90% and 110% of the FMR.

About the Philadelphia Rental Market

The median asking rent across Philadelphia, PA is currently $1,751/month, based on active rental listings across 22 zip codes. Median asking rents have decreased by -2.4% over the past 12 months.

Asking rents vary significantly across the city. ZIP 19103 has the highest median asking rent at $2,278/month, while ZIP 19140 comes in at $1,230/month.

Rental listings in the area spend an average of 52 days on market before being leased, suggesting a more tenant-friendly market.

The HUD Fair Market Rent for a 2-bedroom in the Philadelphia metro area is $2,720/month. Current median asking rents are near or below the FMR for this area.

Philly is one of the more affordable large East Coast cities, which is part of its appeal for both renters and investors. Healthcare is enormous here — Penn Medicine, Jefferson, Temple — and the university system (Penn, Drexel, Temple) brings a constant stream of student and medical resident renters. Center City, Rittenhouse, and Fishtown are premium. West Philly, Kensington, and North Philly are where investors look for cash flow. The Philly wage tax hits both residents and non-residents who work in the city, which affects take-home pay and therefore what renters can afford. Property taxes are lower than you'd expect for a major city, which helps the landlord math. It's a market with real upside if you pick the right neighborhoods.

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