Craigslist Apartments In Philly (2024)

FAQs

What is the rental market in Philadelphia? ›

Average Apartment Cost in Philadelphia, PA

The average rent for apartments in Philadelphia, PA, is between $1,322 and $2,152 in 2024. For a studio apartment in Philadelphia, PA, the average rent is $1,322. When it comes to 1-bedroom apartments, the average rent in Philadelphia, PA, is $1,827.

Rent Philly is a Condo Shops (TCS) Rental Portal. We are the largest purveyor of the finest apartment and condominium rentals in the Philadelphia Area.

Predictions for 2024 and Beyond:

Inventory may gradually increase as new construction projects come online, but the gap between supply and demand is expected to persist. Rents are likely to stabilize in the latter half of 2024, with modest increases continuing in subsequent years.

The median salary in Philadelphia, PA is $64,006, with 80% of salaries falling between $28,754 and $147,900. Salaries in Philadelphia, PA are generally above the national average.

As of September 2024, the average rent in Philadelphia, PA is $1,716 per month. For comparison, the national average rent price in the US is currently $1,563/month, which means Philadelphia rent prices are 10% higher than the national average.

Before move-in

You may also have to put down a deposit (typically towards the first month's rent) to take the property off the market during the application process. Landlords will ask for: your past few pay stubs and/or bank statements as well as previous residences and references.

Affordable housing is generally private housing for lower- to moderate-income tenants that costs no more than 30% of their income. Public or subsidized housing is housing that is owned and operated or paid for by the government.

Among the many cities around the United States, Philadelphia stands out as an advantageous market for rental property investment. A lot of investors are taking an interest in Philadelphia. Some of them are local and others are buying properties here from out of state. Why are people making the move to our city?

Is Philadelphia a landlord-friendly city? Philadelphia, while having specific regulations in place, provides a framework for landlords to operate. The city emphasizes compliance with housing regulations and provides guidelines to ensure a fair and safe environment for both landlords and tenants.

New York tops the list with an average monthly cost of $4,200 for a one-bedroom apartment. Not only is it expensive, but due to high demand, living in the Big Apple can be competitive.

What is the most a landlord can raise rent in Philadelphia? ›

Pennsylvania does not have statewide rent control laws. This means that, unlike in some other states or cities, there are no specific state laws, regulations, or limitations on how much landlords can increase rent.