$0
Average Rent
$1,816 average rent in Philadelphia, Q3 2026
0%
Occupancy Rate
95% occupancy rate Philadelphia, Q3 2026
0
T4Q Net Absorption
8,083 T4Q net absorption in Philadelphia, Q3 2026
0%
Annual Rent Change
2% annual rent change in Philadelphia, Q3 2026
0
BPS Annual Occupancy Change
30 BPS annual occupancy change in Philadelphia, Q3 2026
0
T4Q Unit Completions
4,614 T4Q net absorption in Philadelphia, Q3 2026
KEY TAKEAWAYS
- Annual absorption of 8,083 units outpaced the 4,614 units delivered over the past year, extending a six-quarter run of demand exceeding new supply.
- Effective rents rose 2.0% year over year to $1,816, the strongest annual gain since early 2023, with 30 of 33 submarkets posting increases.
- Occupancy reached 94.5%, its highest level since 2024, as annual starts fell to their lowest level in at least a decade.
MARKET OUTLOOK
Philadelphia’s multifamily market is moving through the late stage of its supply cycle on solid footing. Annual demand has outpaced deliveries for six straight quarters…
Philadelphia Advisors
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