Despite all the criticism from tenant advocates that Philly’s rental market is not affordable, RentCafe’s latest survey finds otherwise.
They’ve unveiled the most in-demand cities for renters in September. To compile this report, they analyzed millions of interactions on RentCafe.com across the 150 largest U.S. cities.
This month, three Northeastern cities secured spots in the top 30 most sought-after cities by renters, and Philadelphia was one of them. The City of Brotherly Love has consistently maintained its popularity as a rental destination this year, even after the high season.
Here are the key metrics that position Philadelphia in the 23rd spot among the most in-demand cities this month:
- Renters added 73% more Philadelphia listings to their favorites list compared to last September, indicating a clear intent to move to the city.
- Meanwhile, apartment listings in Philadelphia received 56% more views from prospective renters compared to one year ago.
- Furthermore, those searching for Philadelphia apartments for rent saved 77% more personalized searches compared to the same time last year — the 6th highest increase among all cities analyzed.
- This heightened interest resulted in a 12% decrease in available listings in the city.
- Who’s eyeing apartments in the City of Brotherly Love? Apart from locals, renters from New York City, Boston and Washington, D.C., are searching for rentals in Philadelphia.
- In the regional ranking, Philadelphia secured the bronze medal, following Bronx, while Queens surpassed both of them, taking the crown for the first time this year.