RentCafe.com has just released it’s Rental Desirability Survey for November.
And while Philadelphia is still a hotspot rental destination, The City of Brotherly Love has dropped a few spots.
RentCafe’s survey unveils the cities that have attracted the most attention from apartment hunters in November. To see renters’ intent and preferences this month, they analyzed website traffic data for listings in the country’s 150 largest cities.
Philadelphia has been a sought-after rental destination throughout the year, consistently ranking among the top 30 cities for apartment hunters. Even though, in November, it dropped 25 places to the 45th position nationwide, it is the Northeast’s fourth most in-demand city for renters.
Here are the highlights for Philly:
- Traffic for Philly listings increased by 52% compared to November 2022. However, renters favorited 22% fewer apartments compared to one year ago.
- Renters might be taking more time to make the move to Philadelphia, but the rental demand is still strong. This led to a 23% decrease in available apartments on RentCafe.com compared to last November.
- Currently, Philadelphia ranks fourth in the Northeast, following three New York City rental hubs: Queens, Buffalo and the Bronx.