Philadelphia topped the list of cities in the Northeast for interest from apartment renters during the first half of the year, write Joanne Drilling and Ryan Mulligan for the Philadelphia Business Journal.
RentcCafe’s mid-year renter engagement report reviews current and historic apartment search volume on its platform, as well as changes in overall apartment availability. It placed Philadelphia eighth nationally, which matches last year and moves the City of Brotherly Love up one place from the first half of 2024.
The market’s continued popularity among potential renters is a positive sign for many apartment owners and developers after two years of rising inventory and weaker demand. While the suburbs have been a renter hot spot lately, the report shows that the city also remains prominent in searches by apartment hunters.
Although it ranked 126th nationally for high availability rate, Philadelphia placed first in the nation for average monthly page views from January through June. Favorites increased by 26 percent compared to last year, with most out-of-market activity coming from New York and Boston.
Philadelphia was the only Northeast city to reach the national top 40.
Read more about the renter interest taking place throughout Philadelphia in the Philadelphia Business Journal.
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