1213 Walnut
1213 Walnut St,
Philadelphia, PA 19107
$2,045 - $7,340
Studio - 2 Beds
Rental Market Trends in Philadelphia, PA
What is the average rent in Philadelphia, PA?
$1,782/month
Average Rent
665 Sq Ft
Average Apartment Size
+1.5%
Increase in the Last Year
As of May 2026, the average rent in Philadelphia, PA is $1,782 per month. For comparison, the national average rent price in the US is currently $1,644/month, which means Philadelphia rent prices are 8% higher than the national average. When you rent an apartment in Philadelphia, you can expect to pay about $1,428 per month for a studio, $1,782 for a one-bedroom apartment, and around $2,220 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $2,910 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Philadelphia, PA?
In the past year, rent has increased by 1.5%, which averages out to $27 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated May 2026
Legend
2025
2026
Rent Ranges in Philadelphia, PA
Last Updated May 2026
$1,501 - $2,000
Most rental prices fall within this range
Percentage*
Rent Range
1%
Below $700/month
7%
$700 - $1,000/month
35%
$1,001 - $1,500/month
35%
$1,501 - $2,000/month
21%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Philadelphia?
Based on current rent prices, Frankford, Olney and Logan-Ogontz-Fern Rock are the most affordable neighborhoods in Philadelphia.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Philadelphia?
Based on current rent prices, South Philadelphia East, Fitler Square and 30th Street Station are the most expensive neighborhoods in Philadelphia.
Neighborhood
Average Rent
Average Sq Ft
Which Philadelphia neighborhoods have the most rentals available?
The neighborhoods in Philadelphia with the most apartments available are Center City, Northern Liberties and North Philadelphia .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Philadelphia, PA?
Because the average rent in Philadelphia is $1,782, you’ll want to make about $5,940 per month or $71,280 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
Cost of Living
The cost of living in Philadelphia, PA is 7.2% higher than the national average. Generally, housing in Philadelphia is 8.2% more expensive than the national average, with rent falling between $1,428 - $2,910. You can expect to pay 4.3% more for groceries, 9.2% more for utilities, and 4.2% more for transportation.
How does Philadelphia, PA compare to other nearby cities and neighborhoods?
Use the tool below to compare Philadelphia, PA to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
$837/month
$2,356/month
One Bedroom
$1,046/month
$2,720/month
Two Bedroom
$1,286/month
$3,931/month
Three Bedroom
$1,528/month
$7,300/month
Nearby City Rent Trends
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Alterra Property Group
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18
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2,911
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1
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MGMT Residential
-
18
Communities
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1,185
Units
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1
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18 Communities in Philadelphia
Chelsea Management
-
38
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Units
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Rushmore Management
-
87
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Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in February 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.
* Percentages may not total 100 due to rounding.