Philadelphia is the 10th largest multifamily market with 309,791 completed units and 79,328 units in development,12,755 of which have already broken ground, as of December 2021.
Philadelphia Multifamily Market Summary – December 2021
New lease asking rents are at $1,595, up 10.5%▲
from the previous year placing Philadelphia at
71st overall in year-over-year rent growth.