Prices for 1-3-bedroom and studio apartments have started to decrease over the last 3-6-months. In recent months, inventory has increased in and around Philadelphia leading to costs coming down. Colder temperatures and the coming of winter has also brought prices down over the last quarter. The median rent in Philadelphia is $1,700, 12% lower than the national median.
King of Prussia
Over the past few months, inventory has increased in and around Philadelphia leading to rent prices coming down slightly in the sought after King of Prussia neighborhood. With winter underway, the cold has also assisted in decreasing the average rent in the area. Prices for 2-bedroom apartments have remained relatively stable over the last 3-6-months while 3-bedroom apartments have taken the biggest decrease in rent over the last quarter. The median rent in King of Prussia is $2,200. This is 17% higher than the national median.
Recent Apartment Listings
Below are some recent listing examples.
(Data sourced from Apartments.com)