Apartments for Rent in Philadelphia, PA under $600 – 1 Rentals available
Philadelphia’s average rent reached $1,666 in January
Philadelphia’s average rent reached $1,666 in January after a 0.9% increase since last year. Renters make up 44% of Philadelphia’s population. One of the Pennsylvania’s largest city is a diverse and vibrant place to live in, with apartment rents above the national average of $1,392. [View Full Report]
Philadelphia’s average rent was $1,666 in January
Philadelphia’s average rent reached $1,666 in January after a 0.9% increase since last year. Renters make up 44% of Philadelphia’s population. One of the Pennsylvania’s largest city is a diverse and vibrant place to live in, with apartment rents above the national average of $1,392.
The average rent for an apartment in Philadelphia increased, along with other surrounding cities such as Upper Darby where apartments go for $910 after a 0.4% increase, and Bensalem, where rent went up 4.9% reaching $1,304.
What it costs to rent in the largest renter hubs in the Philadelphia area
The city with the largest renter share is West Chester (63%), followed by Norristown, with 62% renters. In West Chester, apartment rents increased by 1.6% since last year, reaching $1,581. Norristown, with an average rent of $1,368, has the second largest share of renters (62%) and has experienced a rent increase of 0.9% since January 2020. In Exton, where 52% of the population are renters, the average rent is $1,773, seeing an increase of 3.9% compared to the past year. Apartments in Pottstown, also with 52% renters, cost $1,177 per month, an increase of 3% in one year. Bryn Mawris the fifth largest by renter population (51%) seeing an annual increase of 6.8% and reaching $1,794.
The priciest and cheapest cities for renters in the Philadelphia area
Malvern is the priciest city for renters in the Philadelphia area, with apartments renting for $1,796 per month. The average rent for apartments in Bryn Mawr is $1,794, the second most expensive, while Exton ($1,773) comes in third.
For renters in search of budget-friendly apartments, Upper Darby's $910 average rent is the cheapest in the Philadelphia area followed by Drexel Hill's $1,137 rate. Pottstown rentals are the third least pricey on the list, with a $1,177 average apartment rate.
RENTCafe.com is a nationwide apartment search website that enables renters to easily find apartments and houses for rent throughout the United States.
The data on average rents included in our reports comes directly from competitively-rented (market-rate) large-scale multifamily properties (50+ units in size), via telephone survey. The data is compiled and reported by our sister company Yardi Matrix, a business development and asset management tool for brokers, sponsors, banks and equity sources underwriting investments in the multifamily, office, industrial and self-storage sectors. Fully-affordable properties are not included in the survey and are not reported in rental rate averages. Local rent reports include only cities with a statistically-relevant stock of large-scale multifamily properties of 50+ units.
Philadelphia, PA Demographics
- Total Population1,575,522
Female 745,543Male 829,979
- Median Age34.3
Average Rent in Philadelphia, PA
- Philadelphia, PA Average Rental Price, December 2020 $1,660 /mo
Philadelphia, PA Apartment Rent Ranges
- > $2,00024%
Philadelphia, PA Rent Trends
|Jul / 2017||Nov / 2017||Mar / 2018||Jul / 2018||Nov / 2018||Mar / 2019||Jul / 2019||Nov / 2019||Mar / 2020||Jul / 2020||Dec / 2020|
Philadelphia, PA Households
- Total Number of Households594,778
Family 321,389Non-family 273,389
Children 161,687No Children 433,091
- Average People Per Household2.57
- Median Household Income$43,744
- Median Housing Costs Per Month$973
Philadelphia, PA Education Statistics
- No High School5%
- Some High School43%
- Some College19%
- Associate Degree5%
- Bachelor Degree16%
- Graduate Degree10%