Rental market snapshot for Center City, Philadelphia
Center City rental market summary
The rental market in Center City, Pennsylvania is showing signs of growth. In July 2023, there were 902 new listings, a significant increase from the previous month. The median rent for the same period was $2,200, a decrease of 2.7% from the previous month and a 4.3% increase from the same period in 2022. This indicates that the rental market in Center City is becoming more competitive, with more options available for renters.
Overall, the rental market in Center City is becoming more attractive for renters. With more listings available and a decrease in median rent, renters have more options to choose from and can find more affordable housing. This is a positive sign for the rental market in Center City and shows that it is becoming a more desirable place to live.
Median rent for all residential properties in Center City
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The most expensive listings and top trending buildings in Center City
Most Expensive Listings
| Address | Rent Price | Bed / Bath |
|---|---|---|
| 1924 Rittenhouse Sq | $12,500 | 5 / 3.5 |
| 1401 Spruce St | $8,595 | 3 / 3.5 |
| 1414 S Penn Sq | $8,500 | 3 / 2.5 |
| 1414 S Penn Sq | $8,000 | 2 / 3.5 |
| 1520 Spruce St | $7,895 | 3 / 2.5 |
Top Trending Buildings
| building name | avg rent price |
|---|---|
| Southern Land | $4,127 |
| LCOR Incorporated | $3,223 |
| Post Brothers | $2,855 |
| Zillow Rental Network | $2,823 |
| AIMCO | $2,688 |
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Bedroom Breakdown in Center City
Center City neighborhood apartments rents
The rental market for studios in Center City, Pennsylvania is showing signs of growth. In July 2023, there were 41 new studio listings, a 3.7% increase from the median rent in June 2023. The median rent for studios in July 2023 was $1,715, which is a significant increase from the median rent in June 2023 of $1,654. This indicates that the rental market for studios in Center City is becoming more competitive and that demand is increasing.
The rental market for 1-bedroom apartments in Center City, Pennsylvania is showing signs of stability. In July 2023, there were 100 new 1-bedroom listings, and the median rent for 1-bedroom apartments increased by only .5% from June 2023 to July 2023, from $2,084 to $2,095. This indicates that the rental market is not experiencing any significant changes in pricing or availability.
The rental market for 2-bedroom apartments in Center City, Pennsylvania is showing signs of growth. In July 2023, there were 53 new 2-bedroom listings, a 12.3% increase from the median rent in June 2023. The median rent for 2-bedroom apartments in July 2023 was $3,285, a significant increase from the median rent in June 2023 of $2,925. This indicates that the rental market for 2-bedroom apartments in Center City is on the rise and is likely to continue to increase in the coming months.