{"id":6741,"date":"2026-05-26T15:39:00","date_gmt":"2026-05-26T15:39:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=6741"},"modified":"2026-06-11T07:02:50","modified_gmt":"2026-06-11T07:02:50","slug":"philadelphia-multifamily-market-report","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/philadelphia-multifamily-market-report\/","title":{"rendered":"Philadelphia Multifamily Market Report \u2013 May 2026"},"content":{"rendered":"<h2>Rent, Employment Growth, See Boosts<\/h2>\n<p>Philadelphia\u2019s multifamily fundamentals have remained balanced, as seasonal trends yielded visible rent growth, according to the latest Yardi Matrix Philadelphia multifamily market report. The average advertised asking rent was up 0.3%, on a trailing three-month basis through March, to $1,852, 20 basis points above the national rate, as\u00a0reported in the <a href=\"\/blog\/national-multifamily-market-report\/\" rel=\"\"><strong>U.S. multifamily report<\/strong><\/a>. The market\u2019s overall occupancy in stabilized assets remained healthy, down just 10 basis points year-over-year, to 95.4%.<\/p>\n<p><iframe id=\"datawrapper-chart-V42JV\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Philadelphia vs. National Rent Growth\" src=\"https:\/\/datawrapper.dwcdn.net\/V42JV\/1\/\" height=\"334\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Line chart\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">(function(){function e(){window.addEventListener(`message`,function(e){if(e.data[`datawrapper-height`]!==void 0){var t=document.querySelectorAll(`iframe`);for(var n in e.data[`datawrapper-height`])for(var r=0,i;i=t[r];r++)if(i.contentWindow===e.source){var a=e.data[`datawrapper-height`][n]+`px`;i.style.height=a}}})}e()})();<\/script><\/p>\n<p>Employment in Philadelphia expanded 1.4% in 2025, 80 basis points above the national average. The metro added 37,400 net jobs last year. Education and health services led gains, with 30,900 positions, up 3.7% year-over-year. Meanwhile, four sectors recorded contractions, with a combined 11,000 positions lost. The metro\u2019s unemployment rate stood at 4.3% in December 2025, 10 basis points below the U.S. figure, according to preliminary data from the Bureau of Labor Statistics. An upcoming $1 billion cell therapy manufacturing facility 23 miles from Philadelphia could add 4,500 new jobs to the market, as Johnson &amp; Johnson is expands its footprint in Pennsylvania.<\/p>\n<p><iframe id=\"datawrapper-chart-lOZOv\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Philadelphia Employment Share by Sector\" src=\"https:\/\/datawrapper.dwcdn.net\/lOZOv\/1\/\" height=\"417\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Table\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">(function(){function e(){window.addEventListener(`message`,function(e){if(e.data[`datawrapper-height`]!==void 0){var t=document.querySelectorAll(`iframe`);for(var n in e.data[`datawrapper-height`])for(var r=0,i;i=t[r];r++)if(i.contentWindow===e.source){var a=e.data[`datawrapper-height`][n]+`px`;i.style.height=a}}})}e()})();<\/script><\/p>\n<p>Despite only a modest 416 completed units through March, accounting for 0.1% of existing stock and 20 basis points lower than the national figure, the metro\u2019s deliveries expanded significantly in the last two years, with 17,137 completed apartments. Transaction volume remained limited through the first quarter of this year, with $60 million in assets changing hands.<\/p>\n<p>Read the full Yardi Matrix Philadelphia Multifamily Market Report: <a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/8689-MatrixMultifamilyPhiladelphiaReport-May2026\" rel=\"\"><strong>May 2026<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rent, Employment Growth, See Boosts Philadelphia\u2019s multifamily fundamentals have remained balanced, as seasonal trends yielded visible rent growth, according to the latest Yardi Matrix Philadelphia multifamily market report. The average advertised asking rent was up 0.3%, on a trailing three-month basis through March, to $1,852, 20 basis points above the national rate, as\u00a0reported in the [&hellip;]<\/p>\n","protected":false},"author":753,"featured_media":10428,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[513,119],"class_list":["post-6741","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-multifamily-outlook-2025","tag-philadelphia"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Philadelphia Multifamily Market Report | Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Get the latest Yardi 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