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Philadelphia Metro Report: March 2017

The Zumper Philadelphia Metro Report analyzed over 13,500 active listings in February across the 3 metro cities to show the most and least expensive Cities and cities with the fastest growing rents.

Cities Ranked By Rent

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Rankings

– Philadelphia, PA was the most expensive city to rent in the Philadelphia-Camden-Wilmington metro area, with a one bedroom median of $1,350.

– Wilmington, DE was second on the list with a median one bedroom rent of $860.

– Camden, NJ ranked as the third priciest city in the area. Rent for a one bedroom apartment was $760 this month.

Yearly Growth Rate

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– Philadelphia, PA rents had the highest yearly growth rate at 9.8%.

– Wilmington, DE, close behind Philadelphia, had rents up 8.9% since this time last year, making it the second fastest growing city in the metro.

– Camden, NJ yearly growth rates were far behind the other two cities. Median rent was up a slight 2.7% since this time last year.

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Full Data

CityPrice (1 Bed)M/M %Y/Y %Price (2 Bd)M/M %Y/Y %
Philadelphia$1,350-1.5%9.8%$1,5402.7%11.6%
Wilmington$8600.0%8.9%$1,180-1.7%10.3%
Camden$7600.0%2.7%$910-3.2%1.1%

About

The Zumper Philadelphia Metro Report analyzed over 13,500 listings that hit the market in February 2017. Listings are aggregated by city to calculate median asking rents.

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This post first appeared on The Zumper Blog | Rental Market Trends, Real Estat, please read the originial post: here

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Philadelphia Metro Report: March 2017

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