If you’re planning to rent an apartment in Philadelphia, you must be wondering how expensive it is to rent an apartment in the city. While the costs for apartments in Philadelphia will depend on the neighborhood, apartment complex, amenities, and much more, the biggest determinant is the number of bedrooms. Here are some average Philadelphia apartment rental costs broken down by the number of bedrooms to help you get an idea of where to start.
- Studio in Philadelphia – $1,193 per month
- 1 bedroom in Philadelphia – $1,385 per month
- 2-bedroom in Philadelphia –Â $1,692 per month
- 3-bedroom in Philadelphia – $2,588 per month
It’s important to understand that these are average prices. That means rents may be higher and lower in some areas.
What are the Most Affordable and Expensive Neighborhoods in Philadelphia?
Since some Philadelphia neighborhoods are more expensive than others, let’s look at some of the most expensive and affordable neighborhoods.
- Some of the highest rated, most affordable neighborhoods in all of Philadelphia and in the entire nation (source: Redfin.com) are Bustleton, Fox Chase, and East Mt Airy. Other affordable areas include parts of Northeast Philadelphia and parts of Northwest Philadelphia.
- Some of the more expensive neighborhoods in Philadelphia include University City, Rittenhouse Square, Logan Square, Old City, Northern Liberties, and Fishtown, among others.
- Consider, among other things, the crime rates in different neighborhoods.
How Much Rent Should You Pay in Philadelphia?
Ultimately, the rent you pay should be based on how much you can afford; how many people you plan to live with; and your general lifestyle. For example, if you need to live closer to a workplace to reduce your commute time to work, then you may need to pay a little more. If you can afford to live a little further out and don’t mind a longer commute to work, you may find more affordable rents. Consider what else is important in a location for you. For example, do you want to live in an apartment building near parks and greenery? Grocery stores?
What is important inside the apartment: what size do you need, do you need a washer/dryer, balcony, walk-in closet, a quiet sound-controlled apartment? What is important as an amenity – do you need a swimming pool or on-site parking? Is there good, responsive management? Are the grounds well maintained and buildings and areas free of trash? Who clears the snow?
Consider your own personal circumstances before picking your neighborhood in Philadelphia and ultimately deciding on an apartment choice.
*Rent Data from Co-Star August 2020
