Median rents, rental comps, and market trends across 15 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
$1,753
Rent Change (YoY)
-4.1%
Avg Days on Market
63
Active Rental Listings
7,178
Median List Price
$319,999
Average across 15 zip codes
ZIP | Median Rent |
|---|---|
| 19103 | $2,197/mo |
| 19102 | $1,995/mo |
| 19123 | $1,970/mo |
| 19130 | $1,869/mo |
| 19107 | $1,800/mo |
| 19125 | $1,799/mo |
| 19148 | $1,750/mo |
| 19104 | $1,600/mo |
| 19121 | $1,600/mo |
| 19145 | $1,600/mo |
| 19152 | $1,600/mo |
| 19143 | $1,550/mo |
| 19111 | $1,395/mo |
| 19119 | $1,395/mo |
| 19134 | $1,395/mo |
Get rental comps for any property in Philadelphia
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| Unit Size | Median Rent |
|---|---|
| Studio | $1,250/mo |
| 1 Bedroom | $1,450/mo |
| 2 Bedroom | $1,695/mo |
| 3 Bedroom | $2,000/mo |
| 4 Bedroom | $2,350/mo |
Aggregated median across all Philadelphia zip codes with available data.
| ZIP | Median List Price |
|---|---|
| 19123 | $610,000 |
| 19103 | $565,000 |
| 19130 | $499,000 |
| 19125 | $439,900 |
| 19152 | $339,900 |
| 19102 | $335,000 |
| 19119 | $335,000 |
| 19148 | $319,999 |
| 19107 | $315,000 |
| 19145 | $309,900 |
| 19111 | $299,900 |
| 19121 | $239,000 |
| 19143 | $200,000 |
| 19104 | $179,000 |
| 19134 | $135,000 |
| Unit Size | Fair Market Rent |
|---|---|
| Studio | $2,100/mo |
| 1 Bedroom | $2,280/mo |
| 2 Bedroom | $2,720/mo |
| 3 Bedroom | $3,260/mo |
| 4 Bedroom | $3,640/mo |
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.
The median asking rent across Philadelphia, PA is currently $1,753/month, based on active rental listings across 15 zip codes. Median asking rents have decreased by -4.1% over the past 12 months.
Asking rents vary significantly across the city. ZIP 19103 has the highest median asking rent at $2,197/month, while ZIP 19111 comes in at $1,395/month.
Rental listings in the area spend an average of 63 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.
Want to look up rental comps and rent estimates for a specific property in Philadelphia? PropMetrics lets you search any address and get detailed rental data instantly.
Get rent estimates, comparable rentals, and market data for any property in Philadelphia, PA. Free to start.
What rental comps are, what makes a good one, and how to use them to price your rental property accurately.
Fair market rent, Section 8, HUD... what does it all mean? A straightforward breakdown of how it works and why it matters.
A step-by-step guide to pricing your rental so it rents quickly without leaving money on the table.