Philadelphia market rental trends report

Over the past 3 to 6 months, Philadelphia has experienced a slight decline in average rent prices, particularly among studio and one-bedroom units. This trend suggests a cooling in demand or adjustments following previous rental surges. The modest decrease may be attributed to increased rental inventory across the city, along with seasonal shifts and broader affordability concerns that have softened competition for smaller units. Landlords may also be adjusting prices to attract tenants amid a more stabilized post-pandemic market. As of Q1 2025, the median rent across all unit types in Philadelphia stands at approximately $1,680 per month.

King of Prussia

Over the past 3 to 6 months, rental prices in King of Prussia, PA have shown mixed movement, with slight declines in studio, one-bedroom, and two-bedroom units, while three-bedroom apartments experienced a noticeable increase. This indicates a cooling in demand for smaller units while highlighting stronger competition for larger spaces. The softening in smaller-unit rents may be linked to seasonal leasing patterns and increased availability, whereas the rise in three-bedroom rents reflects growing interest from families and renters seeking more space, possibly due to remote or hybrid work arrangements. As of Q1 2025, the median rent across all unit types in King of Prussia is approximately $2,745 per month.

Recent listings

Below are some recent listing examples.

Philadelphia

The Hamilton

• Studio/1 ba
• Sq Ft: 329
• Rent: $1,389.78

One The Girard

• 1 br/1 ba
• Sq Ft: 836
• Rent: $2,852.35

The Ludlow

• 2 br/2 ba
• Sq Ft: 936
• Rent: $3,476.35

Beach St Landing

• 3 br/2 ba
• Sq Ft: 1,628
• Rent: $5,040

King of Prussia

The Smith Valley Forge

• Studio/1 ba
• Sq Ft: 650
• Rent: $1,652

Skye 750 Apartments

• 1 br/1 ba
• Sq Ft: 886
• Rent: $1,932

251 DeKalb

• 2 br/2 ba
• Sq Ft: 1,340
• Rent: $2,445

Park Square

• 3 br/2 ba
• Sq Ft: 1,470
• Rent: $3,144

(Data sourced from Apartments.com)