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Philadelphia market rental trends report

Relocity Updated on January 28, 2026

Rental Trends

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Over the past 3–6 months, overall rent prices in Philadelphia have shown a mix of modest increases and stabilization rather than sharp growth, with some unit types holding steady as new inventory enters the market. While rents remain elevated compared with a year ago, growth has moderated and, in some cases, small softening has been observed due to shifts in supply and renter behavior. This trend is being driven by a combination of increased lease renewals and limited new moves, elevated construction delivering new units, and competitive market dynamics that are balancing supply and demand across urban and suburban submarkets. High renewal rates and limited availability of move‑in units are tightening effective supply even as new developments come online. As of late 2025, the current median rent across the Philadelphia region is approximately $1,970 per month

King of Prussia

Over the past 3–6 months, overall rent prices in King of Prussia have generally risen moderately, with average rents climbing month‑over‑month and annual rent metrics showing positive growth compared with prior periods. According to aggregated rental data, average rents have trended upward in late 2025, supported by recent reports of rising monthly averages and elevated median rents. This change has been driven by sustained demand for suburban living, a growing renter population in the area, and relatively constrained supply compared with broader regional markets, even as some new listings enter the market. Local demographic shifts toward a renter majority and continued interest in high‑amenity locations have helped keep rental pricing buoyant. As of late 2025, the current median rent across the King of Prussia region is approximately $2,150 per month