‘A return to normal’: New report shows silver lining for renters in Philadelphia
Prices remain high, but aren’t growing at the rate they were during the pandemic.
ByAaron MoselleJuly 12, 2023
“Renters are finally getting a breather,” said Zillow senior economist Orphe Divounguy.
Typical rent in the metro remains high, but rose just 0.4% from May to June, according to the report. That translates to $1,864 — about $150 less a month than the typical rent across the country.
Year-over-year, rents here have increased 3%, putting the metro around the middle of the pack when comparing other big cities. Washington, Boston, and New York all had higher increases and remained more expensive than Philadelphia.
Nationally, rents are up 4.1% over the same time last year, reaching $2,054.
https://whyy.org/articles/new-report...lphia-renters/