November 02, 2016
Thom Carroll/PhillyVoice
Vibrant rowhomes with large porches are a common sight in West Philadelphia.
Enjoying cheap rent? It might not last, according to one new report.
Zumper, a startup that helps people find houses or apartments, ranked Philadelphia as the 15th most expensive rental market in the nation for the month of October, with prices jumping significantly since just last year.
The median price for renting a single bedroom in Philly for October 2016 was $1,400, a 4.5 percent increase from just last month, causing the city to move up one spot in the national ranking.
Prices for a two-bedroom rental shot up 4.7 percent from September to $1,570 and more than 12 percent from this time last year, according to the report released late last week.
And the most expensive neighborhood? University City. Renting a one-bedroom place would put you back about $1,900 this fall. Living in Logan Square came in second-highest at $1,830, and Center City West topped out at $1,800.
Renting a one-bedroom place in Northern Liberties/Fishtown would cost about $1,690.
Providence came in right above Philadelphia at the No. 14 spot, with one-bedroom median rent priced at $1,450 a month, while Portland snagged the No. 16 spot with a median rent of $1,390 for a one-bedroom apartment.
Zumper organizes the rankings by collecting rental data from more than 1 million active listings from across the country.
Here's how the company ranks the top 10 places with the most expensive rents for a one-bedroom place:
1. San Francisco - $3,420/one-bedroom rent
2. New York City - $3,040/one-bedroom rent
3. Boston - $2,250/one-bedroom rent
4. Washington, D.C. - $2,220
5. Oakland - $2,210
6. San Jose - $2,190
7. Los Angeles - $2,010
8. Chicago - $1,820
9. Miami - $1,810
10. Seattle - $1,800
