What Apartment Stats Should You Know in Philly?

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Philadelphia is one of the best cities to live in the Northeast and in the nation, housing (among other costs) is significantly less expensive than housing in other cities like New York, Boston and Washington D.C. – yet provides an excellent quality of life. If you intend to move to Philly for work or for any other reason, or you are looking to learn more about apartments in Philly, you should understand some of the key Philly apartment stats. Here are some apartment stats you should know in Philly.

What is the average rent in Philly?

The average rent in Philly will differ by neighborhood, so it’s also worth checking each neighborhood that you are interested in, but the average rents for Philly as of 2020 are –

  • Studio – $1,193 per month
  • 1-bedroom apartment – $1,385 per month
  • 2-bedroom apartment – $1,692 per month
  • 3-bedroom apartment – $2,588 per month

What is the breakdown of unit types in Philly?

This section takes a look at the breakdown of unit types in Philly, giving you an indicator of the supply that might be available based on the type of apartment you want.

  • Studios – 22%
  • 1 bedroom – 45%
  • 2 bedrooms – 29%
  • 3 bedrooms – 3%

As you can see, the supply of 3 bedrooms in the city is far less in comparison to studios, 1-bedroom and 2-bedroom apartments, so if you’re looking for a 3 bedroom apartment, it will be generally more difficult to find.

 What is the average size?

The average sizes of the apartments will also vary by neighborhood, but as a general guide, here are some averages to consider –

  • Studio – 468 square feet
  • 1-bedroom – 710 square feet
  • 2-bedroom – 995 square feet
  • 3-bedroom – 1,400 square feet

How many apartments come with additional amenities?

At a glance, here are how apartment complexes in Philly break-down on key amenities.

  • Balconies – 3.1% (only about 3% of apartments have balconies)
  • On-site parking – 16.3% (only about 16% of apartments have on-site parking)
  • Walk-in closets – 5.5% (only about 6% of apartments have walk-in closets)
  • Washer/dryer in unit – 9.4% (only about 9% of apartments have in-unit washer/dryer)

As you can see, some of the highest sought after amenities such as balconies, on-site parking, and in unit washer/dryer are rare in the City.

What are the greenest neighborhoods in Philadelphia?

Some Philly neighborhoods have greener coverage than others according to a 2018 Tree Canopy Report which quantifies greenery by zip code. The greenest neighborhoods in the city with less than or equal to 55% tree canopy coverage include –

  • Chestnut Hill
  • Roxborough
  • Mount Airy

Neighborhoods with less than or equal to 33% tree canopy coverage in Philadelphia include –

  • Germantown
  • Bustleton
  • East Falls
  • Overbrook
  • Wynnefield

These zip codes comprise the greenest neighborhoods across the entire city. Some other green neighborhoods worth checking out include Bella Vista and Rittenhouse Square.

Philadelphia is bustling with plenty of charming open spaces, modern and traditional apartments and houses, restaurants and cafes, pubs and bars, shopping, and so much more – which is why it is a popular place to call home for many who want good energy without having to live in the more expensive, bigger cities.

*Data collected from leading real estate analytics tool

 

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