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Apartments in Northern Liberties Philadelphia

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Northern Liberties

A Philadelphia Neighborhood

Summary

Formerly one of Philly’s manufacturing districts, the Northern Liberties area made a turnaround in the ‘90s when artists parceled the remaining warehouses into cheap studio space. After people started flowing into the neighborhood, they just kept coming. Considering its artsy start, NoLibs remains a culture-centric neighborhood. You can’t go far in Philly without stumbling over some history, so while you’re in NoLibs, stop into the Edgar Allan Poe National Historic Site. Newer attractions include the Piazza at Schmidts and the Liberties Walk — both of which offer the walk-and-shop experience, spinkled with food stops as well — and Silk City, which is one of Philly’s most popular night clubs. As is typical for businesses around Northern Liberties, many apartments here are also in renovated warehouses with factory-sized windows. If that’s not your style, there are many newer apartment complexes as well.

Budget

If you're not sure how much an apartment will cost, the table below shows the average price by size.

$1,231
Studio
$1,320
1 Bedroom
$1,828
2 Bedrooms
$1,913
3 Bedrooms
$2,379
4 Bedrooms
$2,937
5+ Bedrooms
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Philadelphia:
July Rent Report

Welcome to the July 2021 Philadelphia Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the July 2021 key findings and figures for the Philadelphia rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Philadelphia and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Philadelphia average rent prices in the chart below.

Monthly Rent Report

Philadelphia Rent Prices Decrease From June to July

Philadelphia rent prices decreased over the last month. From June to July, the city experienced a -5.27% decrease for the price of a one-bedroom apartment. The rent price for a Philadelphia one-bedroom apartments currently stands at $1,365.0.

When we take a look at the two-bedroom comparison from June to July, Philadelphia experienced a -1.77% decrease for the price of a two-bedroom apartment. The rent price for a Philadelphia two-bedroom apartments currently stands at $1,720.0.

July Prices: Philadelphia vs. Surrounding Areas

Rent Prices in Philadelphia and Surrounding Areas

Rent prices have decreased in Philadelphia over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 6 of the Philadelphia suburbs increased last month. On the other hand, 1 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

  • Rent increased in Bryn Mawr, PA, Collingswood, NJ, King Of Prussia, PA, Cherry Hill, NJ, Exton, PA, West Chester, PA .

  • Rent decreased in Wilmington, DE.

  • 5 suburbs are currently priced higher than the city of Philadelphia.

  • 2 suburbs are currently priced lower than the city of Philadelphia.

July 2021 Pricing Trends: Philadelphia vs. National Comparisons

Philadelphia Rent Prices More Affordable Than Major Cities

Rent growth in Philadelphia over the past year has been declining. When compared to major cities nearby, along with some of the most expensive cities in the country, Philadelphia average rent prices appear to be relatively affordable for local residents.

The price for a Philadelphia one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.

You can view the full rundown of Rentable's July 2021 National Apartment Report and data set here.

For more information about Philadelphia and surrounding area rent prices, take a look at the complete data set below.

Data set for Philadelphia and suburbs

1 BR July 1 BR M/M % Change 2 BR July 2 BR M/M % Change
Philadelphia, PA $1,441.0 -3.35% $1,751.0 -1.41%
Bryn Mawr, PA $1,769.0 0.57% $2,454.0 7.02%
Collingswood, NJ $1,224.0 1.83% $1,549.0 6.24%
King Of Prussia, PA $1,759.0 2.03% $1,770.0 -0.73%
Cherry Hill, NJ $1,787.0 0.34% $2,226.0 -0.54%
Exton, PA $1,489.0 1.85% $1,982.0 5.31%
Wilmington, DE $1,095.0 -0.46% $1,284.0 0.71%
West Chester, PA $1,695.0 6.00% $1,852.0 3.46%

Methodology

Each month, using over 1 million Rentable listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.