Rental market snapshot for Somerton, Philadelphia

Somerton rental market summary

The rental market in Somerton, Pennsylvania is showing signs of growth. In July 2023, there were 41 new listings, a significant increase from the previous month. The median rent also increased from $1,500 in June 2023 to $1,845 in July 2023, representing a 23% increase. This is a significant jump from the median rent of $1,060 in July 2022, which is a 74.1% increase in rent over the course of a year.

These figures indicate that the rental market in Somerton is becoming increasingly competitive. With more listings and higher rents, it is becoming more difficult for renters to find affordable housing in the area. As such, it is important for renters to be aware of the current market conditions and to be prepared to act quickly when they find a suitable rental property.

Median rent for all residential properties in Somerton

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The most expensive listings and top trending buildings in Somerton

Most Expensive Listings

AddressRent PriceBed / Bath
1010 Piermont St$2,3504 / 2.0
1010 Piermont St $2,3504 / 2.0
851 Red Lion Rd$1,8992 / 2.0
851 Red Lion Rd$1,8892 / 1.0
851 Red Lion Rd$1,8792 / 2.0

Top Trending Buildings

building nameavg rent price
Woodlake Properties$1,050
Depaul Management Company$995

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Bedroom Breakdown in Somerton

1 Bedroom
$1,539
MEDIAN RENT
2 Bedroom
$1,642
MEDIAN RENT

Somerton neighborhood apartments rents

Uh-oh! Looks like we don't have any data in Somerton, Pennsylvania, for studios.

The rental market for 1-bedroom apartments in Somerton, Pennsylvania is showing signs of growth. In July 2023, there were 8 new 1-bedroom listings, a 19.6% increase in median rent from June 2023 to July 2023, and a median rent of $1,539. This indicates that the rental market for 1-bedroom apartments in Somerton is becoming increasingly competitive, with more people looking to rent and landlords raising their prices.

The rental market for 2-bedroom apartments in Somerton, Pennsylvania is showing signs of improvement. In July 2023, there were 8 new 2-bedroom listings, which is a positive sign for the market. The median rent for 2-bedroom apartments in July 2023 was $1,642, a decrease of 12.1% from the median rent in June 2023 of $1,869. This suggests that the rental market is becoming more affordable for tenants.

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Frequently asked questions

Our data is best categorized as "alternative data", which is a burgeoning sector. Through partnerships and direct feeds, we extract key factual elements that are publicly available within rental listings on internet listing sites and property websites. Once aggregated, we mine through the data to parse out relevant insights and calculate important metrics, benchmarks, and other KPIs. Each week, our system sifts through millions of listing observations and other pockets of market information to deliver the most comprehensive picture of rental housing available.

This is a metric that we try not to overthink. Simply, we take each unique listing observation within a geographic boundary and calculate a simple average. Of course, we're careful to filter for duplicates and other listings that aren't reflective of the market.

Yes, but please attribute us accordingly.

Yes. We can deliver bulk raw data in various formats. Please contact us to discuss - [email protected]

While some of our data is refreshed daily and other data comes in weekly, the bulk of it comes in on a biweekly basis.

Our coverage is nationwide! In our platform, we have data points for every ZIP code and neighborhood boundary in the country.

Every rental housing unit is differentiated by attributes such as its location, square footage, and amenity composition. Thanks to machine learning and natural language processing technologies we deploy, we're able to deconstruct our rental listing data points and identify key amenities for each listing. With this information, we're able to give signals around how certain amenities drive rental pricing value in certain areas.

Well, we think so! At the highest level, our process is simple. Listings data is ingested, cleaned (de-duplicated. etc.), analyzed for insights, and then presented to our users.

As of 2023-07-31, the median rent in Somerton is $1,845.
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