Report: Philadelphia rent prices up in September
With a 7 percent increase from August 2016 to September 2016, Philadelphia is third on a list that only landlords could like.
According to rental agency Abodo, the hike puts Philadelphia on a list of U.S. cities where rent has increased the most, second only to Bakersfield, California and Miami, Florida, where rent was up 9 percent. In Philadelphia, a one-bedroom ran you about $1,291 a month in August, compared with $1,379 a month in September.
The same report indicated big dips in Seattle (down 13 percent) and San Jose, California (12 percent). Nationally, the average rent for a one-bedroom in September was $940, up from $932 in August. Number crunchers at Abodo interpreted the data to argue that bigger cities showing rent decreases amid a nationwide trend in higher rents could mean rural areas and small cities are where rents are likely to be rising most.
Know of an interesting property in the Philadelphia or South Jersey region? E-mail us!
Browse Philadelphia Recent Home Sales »
