Some US cities weather changes well, but Philadelphia has actually thrived on them. From its start in 1682 as the capital of the Pennsylvania Colony, to its essential role in the American Revolution, to its industrial boom, to its place in the Great Migration, to its thriving industrial success, and its current role as a both an economic and educational hub, Philadelphia’s designation as the first World Heritage City in the United States is well deserved. People are currently rushing to take up residence in the heart of the City of Brotherly Love, and no wonder.
But how’s the housing market been dealing with the massive influx of new residents? Well, the competitive environment and growing demand for city living is pushing up rents for one. Rents in Philly have increased 4.4% in 2015, hitting $1,418 in the fourth quarter, according to Yardi Matrix. Not cheap, but hey, at least we’re not nearly close to the $3,500 mark that New Yorkers or San Franciscans shell out on housing every month.
How much does a 3-bedroom apartment cost in Philadelphia?
Renters who need plenty of space can expect to spend an average of $2,445 on 3-bedroom apartments in Philadelphia, but, as you’d expect in any city, the price can vary greatly based on the amenities and location of each apartment. Let’s take a look at 6 three-bedroom rental options to give you an idea of how far your money can go in Philly.
1. The Radian, University City, $1,480, 1,018 square feet
The perfect choice for students, The Radian is just minutes away from the University of Philadelphia. This is architecture at its finest, with bold, clean lines, a two-story city-view club-room, award-winning eco-friendly construction, and a stunning walkout terrace. Conveniences abound, including a first floor retail space and restaurant.
2. The Piazza, Fishtown, $2,300
More than just an apartment, The Piazza is a destination. This multi-purpose outdoor plaza has fun and funky retail stores on the ground level and luxurious apartments above. The courtyard brings the entire community together with unique events every week, and residents are within walking distance of everything they need: a grocery store, restaurants, a variety of retail stores, and public transportation. When it’s time to take a dip, you can enjoy the 21+ private swimming club, and spend the winter ice skating in The Piazza Courtyard. This pet-friendly apartment community includes a residential dog park.
3. The Residences At 3939, Mantua, $2,300, 1,330 square feet
Just a bike ride or short stroll away from Drexel, The Residences at 3939 is an incredible bargain. The common roof top deck offers breathtaking views and a place for renters to study, relax, or entertain friends. Units have all the modern conveniences a person needs, like ceiling fans, dishwashers, garbage disposals, and in-unit washers and dryers, plus upgrades like granite countertops, high ceilings, and hardwood floors.
4. Presidential City, Wynnefield, $2,805, 1,500 square feet
It may be that Presidential City offers the best of all worlds. Located right where the city meets the suburbs, where City Avenue and 76 join, residents get both incredible value for their money and an incredible place to live. The views alone are worth a good look: depending on which side you’re lucky enough to live on, you’ve got Fairmount Park or the skyline to make you daydream. The floorplans are generous, the parking is secure, and the concierge staff are always at your service.
5. Goldtex, Poplar, $3,855, 1,500 square feet
Renters who want luxury need look no further than Goldtex, a unique property where attention to detail is notable in every design aspect. Custom features are plentiful and include hidden loft staircases, cabinetry manufactured by local artists, stunning overhead lighting, and open, well-equipped kitchens. Community amenities include 24-hour concierge service, 14 foot ceilings in common areas, a huge all-season sundeck with lush landscaping, and a rooftop pool complete with a year-round hot tub.
6. Rittenhouse Claridge, Center City West Philadelphia, $3,985, 1,300 square feet
Location, location, location. This amazing community at 201 S. 18th Street will put you right in the middle of the action, next to the city’s best shops and eateries, and within walking distance of the refreshing open space that is Rittenhouse Park. Newly renovated apartments, fully equipped kitchens with granite counter tops and stainless steel appliances, large, spacious closets, a brand-new fitness center with sauna and yoga room, a roof deck, plus an 8,000-square-foot resident lounge featuring a demonstration kitchen, seating areas with fireplace and TVs, conference rooms, and a pool table – these are just a few of the perks that make this community a must-see for those in search of fine urban living.