# Philadelphia Pennsylvania Residential Rent and Rental Statistics

The **median monthly gross residential rent in Philadelphia, PA (the Philadelphia-Camden-Wilmington metro area) was $1,082 in 2017** according to the Census ACS survey.^{1} **Average gross rent in Philadelphia was $1,089 in 2017**. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2018 Philadelphia median and average rent data will be released in September of 2019.

Data is also available below for Philadelphia rental vacancy rates, Philadelphia rent as a percent of median income and the fraction of renters in Philadelphia.

### Real Gross Rent in Philadelphia Pennsylvania (2017 dollars)^{2}

2017 | 1 Year Change | 3 Year Change | |
---|---|---|---|

US Median Gross Rent | $1,012 | +1.61% | +5.86% |

Pennsylvania Median Gross Rent | $893 | -0.22% | +2.88% |

Philadelphia, PA Median Gross Rent | $1,082 | -0.73% | +3.64% |

## Philadelphia, PA Real Gross Rent Trends

Median gross rent for Philadelphia peaked in real terms in 2015 at $1,093 and is now $11 (1.01%) lower. Average gross rent for Philadelphia peaked in real terms in 2016 at $1,125 and is now $36 (3.20%) lower.

### Real Gross Rent in Philadelphia: Philadelphia PA Median, Philadelphia PA Average, Pennsylvania Median, US Median

## Real Gross Rent History for Philadelphia

Date | US Median |
Pennsylvania Median |
Philadelphia, PA Median |
Philadelphia, PA Average |
---|---|---|---|---|

2017 | $1,012 | $893 | $1,082 | $1,089 |

2016 | $996 | $895 | $1,090 | $1,125 |

2015 | $987 | $893 | $1,093 | $1,117 |

2014 | $956 | $868 | $1,044 | $1,084 |

2013 | $924 | $846 | $1,018 | $1,050 |

2012 | $912 | $823 | $999 | $1,031 |

2011 | $912 | $823 | $1,002 | $1,039 |

2010 | $927 | $827 | $1,024 | $1,049 |

2009 | $931 | $816 | $1,008 | $1,039 |

2008 | $947 | $834 | $1,038 | $1,063 |

2007 | $899 | $781 | $987 | $990 |

2006 | $909 | $791 | $997 | $997 |

## Philadelphia Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.^{3} **In 2017 the rental vacancy rate for Philadelphia Pennsylvania was 5.75%** according to Census ACS data.

### Rental Vacancy Rate in Philadelphia Pennsylvania

2017 | 1 Year Change | 3 Year Change | |
---|---|---|---|

US | 6.18% | +0.29% | -0.14% |

Pennsylvania | 5.84% | +0.07% | -0.56% |

Philadelphia, PA | 5.75% | -0.63% | -1.36% |

## Trends in Philadelphia, PA Rental Vacancy Rate

The rental vacancy rate in Philadelphia peaked in 2006 at 9.80%. Since then it has fallen by 4.05% to 5.75%. Data records for this series originated in 2005.

### Rental Vacancy Rate: Philadelphia PA, Pennsylvania, US

## Historical Rental Vacancy Rate data for Philadelphia

Date | US | Pennsylvania | Philadelphia, PA |
---|---|---|---|

2017 | 6.18% | 5.84% | 5.75% |

2016 | 5.89% | 5.77% | 6.38% |

2015 | 5.85% | 5.77% | 6.23% |

2014 | 6.32% | 6.40% | 7.11% |

2013 | 6.49% | 5.78% | 6.97% |

2012 | 6.77% | 5.88% | 7.68% |

2011 | 7.40% | 6.13% | 7.10% |

2010 | 8.17% | 6.47% | 7.86% |

2009 | 8.43% | 6.80% | 8.91% |

2008 | 7.86% | 6.65% | 7.59% |

2007 | 7.87% | 7.34% | 8.21% |

2006 | 7.70% | 8.09% | 9.80% |

## Rent as a Fraction of Income

Using median household income data for Philadelphia, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. **For Philadelphia, median monthly gross rent as a fraction of median household income was 18.93% in 2017** according to the ACS.

### Philadelphia Pennsylvania Median Annual Rent as a Fraction of Median Household Income

2017 | 1 Year Change | 3 Year Change | |
---|---|---|---|

US | 20.13% | -0.30% | -0.76% |

Pennsylvania | 18.10% | -0.47% | -1.01% |

Philadelphia, PA | 18.93% | -0.58% | -0.75% |

## Trends in Philadelphia, PA Rent as a Fraction of Income

The fraction of median Philadelphia household income required to pay median monthly gross rent peaked in 2013 (relative to the 2005 series origin) at 19.78%. Since then it has fallen by 0.85% to 18.93%.

### Fraction of Income towards Rent: Philadelphia PA, Pennsylvania, US

## Historical Data for Annual Rent as a Fraction of Income in Philadelphia Pennsylvania

Date | US | Pennsylvania | Philadelphia, PA |
---|---|---|---|

2017 | 20.13% | 18.10% | 18.93% |

2016 | 20.43% | 18.58% | 19.51% |

2015 | 20.63% | 18.70% | 19.57% |

2014 | 20.89% | 19.12% | 19.69% |

2013 | 20.78% | 19.11% | 19.78% |

2012 | 20.65% | 18.69% | 19.33% |

2011 | 20.70% | 18.78% | 19.69% |

2010 | 20.50% | 18.58% | 19.52% |

2009 | 20.12% | 17.88% | 18.22% |

2008 | 19.00% | 17.18% | 17.81% |

2007 | 18.66% | 16.92% | 17.82% |

2006 | 18.90% | 17.22% | 18.07% |

## Renter Fraction in Philadelphia Pennsylvania

You can calculate the renter fraction in Philadelphia in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Philadelphia as a fraction of total Philadelphia households. **In 2017 33.94% of households were renters** according to Census ACS data.

### Philadelphia Fraction of Renters by Household Units

2017 | 1 Year Change | 3 Year Change | |
---|---|---|---|

US | 36.13% | -0.75% | -0.77% |

Pennsylvania | 31.70% | +0.20% | +0.53% |

Philadelphia, PA | 33.94% | +0.57% | +0.91% |

## Trends in the Philadelphia, PA Renter Fraction

At 33.94%, the 2017 household based renter fraction in Philadelphia was at its highest level. The origin year for the series is 2005.

### Fraction of Renting Households: Philadelphia PA, Pennsylvania, US

## History of Philadelphia Renter Fraction

Date | US | Pennsylvania | Philadelphia, PA |
---|---|---|---|

2017 | 36.13% | 31.70% | 33.94% |

2016 | 36.88% | 31.50% | 33.37% |

2015 | 36.97% | 31.28% | 32.82% |

2014 | 36.90% | 31.17% | 33.03% |

2013 | 36.50% | 31.05% | 33.11% |

2012 | 36.09% | 31.09% | 32.50% |

2011 | 35.42% | 30.51% | 32.06% |

2010 | 34.65% | 29.87% | 31.38% |

2009 | 34.13% | 29.48% | 30.43% |

2008 | 33.36% | 29.15% | 30.23% |

2007 | 32.80% | 28.36% | 29.46% |

2006 | 32.73% | 28.28% | 29.00% |

1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩

2. Real dollars are calculated using the CPI-U less shelter series. ↩

3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩