Philadelphia market rental trends report

Over the past 3 months, Philadelphia has experienced a decline in rental prices across most apartment types. Compared to 6 months ago, median rents have dropped by approximately 0.4% for studios, 9.2% for 1-bedrooms, and 8.7% for 2-bedrooms. Rents for 3-bedroom units have remained relatively flat. This downward trend may reflect seasonal shifts in demand or increased inventory in the rental market. The median rental price across all unit types is approximately $2,036 per month.

King of Prussia

Over the past 3-6 months, rental prices in King of Prussia, PA have experienced a noticeable increase, reflecting a broader trend of rising rent rates across the region. This uptick is largely driven by a combination of growing demand for housing, particularly in suburban areas, and limited inventory, as fewer new rental properties have come to market. As of now, the median rent in King of Prussia stands at approximately $2,300 per month.

Recent listings

Below are some recent listing examples.

Philadelphia

The Hamilton

• Studio/1 ba
• Sq Ft: 342
• Rent: $1,395

The Noble

• 1 br/1 ba
• Sq Ft: 535
• Rent: $1,885

Five on Canal

• 2 br/2 ba
• Sq Ft: 1000
• Rent: $2,200

Apex

• 3 br/2 ba
• Sq Ft:1,364
• Rent: $2,840

King of Prussia

The George

• Studio/1 ba
• Sq Ft: 568
• Rent: $1,845

The Point King of Prussia

• 1 br/1 ba
• Sq Ft: 641
• Rent: $2,042

251 DeKalb

• 2 br/2 ba
• Sq Ft: 1,301
• Rent: $2,455

Park Square

• 3 br/2 ba
• Sq Ft: 1,470
• Rent: $3,323

(Data sourced from Apartments.com)