News continues to be mixed for Philadelphia renters, but two new reports indicate monthly costs are rising over the long-term.
One, produced by rental firm Abodo, points to a national trend toward stabilization, with one-bedroom units close to statistically flat since last month. Here, researchers calculate a one-bedroom in Philadelphia will cost about $1,310 a month, while a two-bedroom will cost about $1,604.
Real estate firm Zumper's analysis shows one- and two-bedroom units coming in here at $1,530 and $1,680, respectively. Both analyses point to a month-over-month leveling off, but Zumper notes that rent has still grown precipitously when you compare costs to this time last year. By those numbers, one-bedroom rentals are up 9.3 percent since last November, and two-bedrooms are up 5 percent since last year. That also makes Philadelphia number 15 on the list of most expensive markets in the country.
While Abodo's data is better news for local renters (they also place the city at number 26 on the most expensive market list), both firms agree on the most expensive market: San Francisco and New York, in that order.