{"id":9312,"date":"2025-06-12T06:03:00","date_gmt":"2025-06-12T06:03:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=9312"},"modified":"2025-09-11T06:12:42","modified_gmt":"2025-09-11T06:12:42","slug":"philadelphia-multifamily-market-report-may-2025","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/philadelphia-multifamily-market-report-may-2025\/","title":{"rendered":"Philadelphia Multifamily Market Report \u2013 May 2025"},"content":{"rendered":"\n<p class=\"has-normal-font-size\">Read the latest Yardi Matrix <strong><a href=\"\/blog\/philadelphia-multifamily-market-report\/\">Philadelphia&nbsp;Multifamily Market Report<\/a><\/strong>.<\/p>\n\n\n<hr \/>\n<h2>Rent Growth Positive, Fundamentals Solid<\/h2>\n<p>Philadelphia\u2019s multifamily market showed strength in the first quarter of 2025, with all fundamentals on a positive track, according to the latest Yardi Matrix Philadelphia multifamily market report. Average advertised asking rents regained momentum and were up 0.4%, on a trailing three-month basis through March, to $1,821\u201430 basis points ahead of the U.S. figure, as\u00a0reported in the <a href=\"\/blog\/national-multifamily-market-report\/\" rel=\"\"><strong>national multifamily report<\/strong><\/a>. Despite record supply growth in 2024, the market\u2019s overall occupancy for stabilized assets remained healthy, at 95.5% as of February, unchanged year-over-year.<\/p>\n<p><iframe id=\"datawrapper-chart-orzR8\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Philadelphia vs. National Rent Growth \" src=\"https:\/\/datawrapper.dwcdn.net\/orzR8\/1\/\" height=\"329\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Interactive line chart\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data[\"datawrapper-height\"][t]+\"px\";r.style.height=d}}}))}();<br \/>\n<\/script><\/p>\n<p>Employment growth was slightly slower, at 0.9% year-over-year through January, just 10 basis points below the U.S. rate and down 10 basis points since December. Over the 12-month period ending in January, Philadelphia gained 46,800 net jobs. Education and health services led growth with 29,900 positions. Meanwhile, four sectors lost a combined 5,600 jobs. Ongoing large-scale projects in the metro that have made progress include the first facilities at HRP Group\u2019s $4 billion, 1,300-acre Bellwether District in South Philadelphia, as well as a new 614-unit community at the $6 billion redevelopment of the Navy Yard.<\/p>\n<p><iframe id=\"datawrapper-chart-Dxfrb\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Philadelphia Employment Share by Sector\" src=\"https:\/\/datawrapper.dwcdn.net\/Dxfrb\/1\/\" height=\"417\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Table\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data[\"datawrapper-height\"][t]+\"px\";r.style.height=d}}}))}();<br \/>\n<\/script><\/p>\n<p>Developers completed 8,470 units across the metro last year, making 2024 the best year for deliveries this decade. With 16,763 units under construction as of March, along with an additional 77,000 units in the planning and permitting stages, Philadelphia<br \/>will maintain its healthy supply growth.<\/p>\n<p>Read the full Yardi Matrix Philadelphia Multifamily Market Report: <a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/7366-MatrixMultifamilyPhiladelphiaReport-May2025\" rel=\"\"><strong>May 2025<\/strong><\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Rent Growth Positive, Fundamentals Solid Philadelphia\u2019s multifamily market showed strength in the first quarter of 2025, with all fundamentals on a positive track, according to the latest Yardi Matrix Philadelphia multifamily market report. Average advertised asking rents regained momentum and were up 0.4%, on a trailing three-month basis through March, to $1,821\u201430 basis points ahead [&hellip;]<\/p>\n","protected":false},"author":436,"featured_media":8950,"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-9312","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 v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Philadelphia Multifamily Market Report \u2013 May 2025 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Philly\u2019s fundamentals improved in early 2025, with advertised asking rents up 0.4 percent on a T3 basis through March, Yardi Matrix reports.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardimatrix.com\/blog\/philadelphia-multifamily-market-report-may-2025\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Philadelphia Multifamily Market Report \u2013 May 2025\" \/>\n<meta property=\"og:description\" content=\"Philly\u2019s fundamentals improved in early 2025, with advertised asking rents up 0.4 percent on a T3 basis through March, Yardi Matrix reports.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/philadelphia-multifamily-market-report-may-2025\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2025-06-12T06:03:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-09-11T06:12:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/12\/Philadelphia-iStock-2208005531-MHN.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adina Rogoz\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tudor Scolca-Seu\u0219an\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Philadelphia Multifamily Market Report \u2013 May 2025 - 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