Posted Mar 23, 2015
Cheapest and Most Expensive Philadelphia Neighborhoods
As the largest city in Pennsylvania, Philadelphia certainly draws in many renters. The metropolis holds job opportunities, the energy of a dense population, a beautiful river view and a historically significant past. Median rental rates range depending on what neighborhood you look at.
Before you start apartment hunting, take a look at the cheapest and most expensive Philadelphia neighborhoods.
Cheapest Philadelphia Neighborhoods
Looking to save money in your Philadelphia move? Living in one of these neighborhoods could decrease your bills and still give you access to exciting city life:
Located on the city’s far west side, East Parkside is located right near the Schuylkill River. The area gets its name thanks to the park that is sandwiched between the neighborhood and the riverbank. Names aside, East Parkside is an affordable area with a median rental rate of $650 a month.
Its distance from the city center and crowded highway may keep renters away, but those who do live in the area have a lot to enjoy. East Parkside is located near attractions like the Philadelphia Zoo, the Mann Center of Performing Arts, and the Please Touch Museum.
Hunting Park sits on the far north side of Philly and has a median rental rate of $695 a month. While not exactly a shopping or fine dining mecca, Hunting Park does offer residence easy access to outdoor recreation.
In fact, the neighborhood is home to a massive park by the same name. There, you can stroll down the many walking paths, play fetch with your dog on the green area, meet up with friends to play disc golf, or go for a jog.
Philly’s Fairhill neighborhood is on the city’s north side. The area has a bit of history, as it was once part of the Norris Family estate. The Norrises settled here in 1682. Today, Fairhill is home to diverse population.
With a median rental rate at around $700 a month, the neighborhood is affordable for some of the tightest budgets. What’s more, you can find parking here and hop on public transportation to get to the city center.
Tioga – Nicetown
Tioga-Nicetown is a small community near Upper North Philadelphia. You can find an apartment here for a median rental rate of $722.5 a month, and you’ll have access to public transit. On the north side of Tioga-Nicetown lies Fernhill Park, which gives residents access to fun outdoor recreation.
Located near the Schuylkill River, Belmont has a median rental rate of $725 a month. The neighborhood also offers residents easy access to public transportation. The mostly residential spot does have some eateries as well as schools and churches.
Most Expensive Philadelphia Neighborhoods
If you’re looking to splurge or are just curious about how high rental rates in the city can get, check out the most expensive Philadelphia neighborhoods.
Penn’s Landing is a thin strip of a neighborhood located right along the Delaware River. The area is mostly comprised of marinas, parks and boardwalks that include restaurants and shopping. However, you will find a precious few apartments.
Short supply and plenty of demand for waterfront views have driven the median rental rate in Penn’s Landing to a whopping $1,965 a month. Living in Penn’s Landing, you’ll also have access to live music, of which there is plenty in the summer.
Logan Square is an eclectic neighborhood comprised of corporate high rises, apartment buildings, residential streets, shopping and parks. Located near the heart of the city, Logan Square has easy access to the business district and historically significant sites.
In fact, you can take a train to the Liberty Bell and arrive in a short few minutes. Within the boundaries of the neighborhood, you’ll find Swan Fountain and the Pennsylvania Academy of the Fine Arts. With so much to do and see, Logan Square apartments are in demand, causing median rental rates to soar at $1,850.
Rittenhosue Square is at the very center of Philadelphia, so it’s a buzzing neighborhood. With upscale restaurants and shops around every corner and easy-to-access transportation, Rittenhouse Square is extremely walkable.
What’s more, the area is home to a large park by the same name that adds some greenery to this downtown landscape. Residential space is limited and gorgeous, which means the median rental rate is high at $1,800 a month.
Directly west of Rittenhouse, you’ll find Fitler Square. The neighborhood is next to the Schuylkill River, giving residents access to Schuylkill Park and the river boardwalk. When the weather is warm, you can stroll to the local farmers market or window shop.
In the cooler months, residents can check out museums and theaters. The amenities in Fitler Square are tempting, but the median rental rate could scare you away. At $1,795 a month, it’s certainly steep.
With land bordering the Delaware River, Northern Liberties has a great landscape. A hub for artists, young professionals and students, NoLibs is an energetic community.
There you’ll find cute cafes, unique boutiques and a buzzing nightlife. With a median rate of $1,790 per month, NoLibs and its artsy vibe come at a high price.
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Methodology: Trends represented in the Lovely Rental Market report reflect Q4 2014 rental market data based on the comprehensive set of aggregated rental inventory posted on Lovely between January 2012 and December 2014, and is no longer active.
Prices reported are as indicated upon posting and do not capture the final pricing terms on closed lease agreements. In addition to Lovely’s posting platform, Lovely Pro, Lovely obtains listings by partnering with over 70 external providers to populate its marketplace with rental listings.