Is Rent Expensive in Philadelphia?

Home | Blog | Is Rent Expensive in Philadelphia?
Is Rent Expensive in Philadelphia? | Philadelphia Skyline | www.phillyaptrentals.com

Reading Time: ( Word Count: )

Rent in Philadelphia is surprisingly reasonable compared to other large major metropolitan cities like New York, Boston, Los Angeles, and Washington D.C.

In fact, New York City is more than twice as expensive as Philadelphia.

Average rent for 1 bedroom in Philadelphia is $1,420 vs. $3,225 in New York (source: Zumper).  Plus, you usually get more space in Philadelphia.

Where in Philly to live?

Like every city, rent in some Philadelphia neighborhoods is higher than others.

Fortunately, in this article, we identify some of the most expensive and most affordable (desirable neighborhoods).

Whether you are a student or just looking for less expensive housing, you’ve come to the right place.

philly neighborhood guide cover

What are the Most Expensive Neighborhoods in Philadelphia?

The most expensive Philly neighborhoods tend to be those in and around Center City.

Rittenhouse Square –  Home to shopping and restaurant district.  |  $2,980 for 2 Bedroom (average)

Society Hill –  Residential district with a lot of historic walk up homes and restaurants  | $2,820 for 2 Bedroom (average)

Washington Square West –  Residential district built around Wash Square Park. Near Old City |  $3,500 for 2 bedroom (average)

Old City –  Home to historic sites of Philly, some apartment buildings and walk up homes |  $2,550 for 2 bedroom (average)

Smallbones / Public domain

Smallbones / Public domain

What are the Some of the Mid-Tier Priced… Desirable Neighborhoods in Philadelphia?

Some of the mid-tier pricing neighborhoods tend to be in the Northwest Part of Philadelphia or Fishtown/Northern Liberties area.

Manayunk – Great walkable Main Street, Near Major Parks. Pet-Friendly & Arts Vibe.  Strong sense of community.| $2,130 (2 bedroom)

Fishtown – Northeast of NoLib, new restaurants and emerging central corridor on Frankford avenue | $2,060 (2 bedroom)

Northern Liberties – A lot of new construction, good amount of restaurants, less of walkable main street $2,480 (2 bedroom)

What are the Most Affordable… Desirable Neighborhoods in Philadelphia?

Where to Find 1-Bedroom Apartments for Under $1,500 in Philadelphia? | Beautiful Fox Chase | phillyaptrentals.com

Beautiful Fox Chase Hshuvaeva, CC BY-SA 3.0, via Wikimedia Commons

While there are some pricey neighborhoods, you are also likely to find some great areas to live in on a tighter budget.

Some of the most affordable, yet most popular and desirable neighborhoods for renters in the city of Philly tend to be in the Far Northeast Philadelphia:

Bustleton –   Ranked Top Affordable, Desirable Neighborhood in Country, Great Parks, Cafes |  $1,281 for 2 bedroom

Somerton –  Next to Bustleton, good access to near by Bucks county suburbs, lots of shopping centers  |  $1,277 for 2 bedroom

Fox Chase – Access to Fox Chase Farm, Pennypack Park, retail corridor in Fox Chase near Train. |  $1,208 for 2 bedroom

Looking for more neighborhoods?

Looking for more Philadelphia neighborhoods?

Want to compare all neighborhoods in one chart on rent, parking, greenery, and more.

Check out our Philadelphia Neighborhood Guide

Why Live in Philadelphia?

Philadelphia is one of the best cities to live in the U.S. because it offers so many lifestyle opportunities at an affordable price.

From history and culture to outdoor living with a plethora of parks and playgrounds to a degustation of culinary wonders, there is no dearth of exciting things to do in the city.

You can enjoy all these features without having to pay the same rent as you would in a city like New York, Boston or Washington D.C.

Philadelphia also has a robust employment market with a specialization in education and medical.

If you are thinking of making a move to Philly for work or to settle down, take the time to research neighborhoods to find the place for you.

 

Last Updated: March 2022, but Rent Data is from January 2022 (Rent Data Costar) unless otherwise noted some rent data from Zumper

 

Is Rent Expensive in Philadelphia? | Philadelphia Skyline | www.phillyaptrentals.com

Subscribe

Don't Forget to Share this post! If you like it!

Fidelity Management – Our content has been featured or mentioned nationally by some of the industry’s best websites including:
ApartmentGuide | Rent.com | MyFirstAmartment | RENTCafe | The Balance …and many more

Tags

Categories

Finding an Apartment

i

Leasing an Apartment

Living in an Apartment

Moving Into an Apartment

Neighborhoods

Things to Do In Philly

News and Announcements

Editor’s Picks

Ben Franklin Bridge leading into Philadelphia at sunset

Subscribe

Stay a Smart Renter. Join the Group!

Related Articles

2 Shares
Skip to main content
Share via
Copy link
Powered by Social Snap