Following a period of exceptional rent hikes, the Philadelphia apartment market has experienced a rapid deceleration. Within two years since the peak, average rent growth in early 2024 is now comparable to levels observed in mid-2020 across all apartment tiers.
Soaring Number of New Apartment Units Trims Philadelphia Rent Growth Back to Pandemic Levels
Premium Rentals Feeling the Most Pressure Amid Development Boom
CoStar Analytics
April 2, 2024 | 1:23 P.M.
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