Philadelphia Rent Prices Are Falling At A Top-10 Rate Nationwide
Philadelphia's rent prices dropped 2% from June to July 2016, according to a new apartment survey by ABODO.
The dip is enough to slot Philly as the 10th-biggest drop in rent among major cities nationwide. Charlotte, NC, experienced the biggest drop over that time period, at 14%. Milwaukee, WI, rose the most, at 15%, according to ABODO.
Vacancy rates have been reported as the lowest nationwide since 1985, a trend that Philly matches for now. But with large, Class-A multifamily properties like Dalian on the Park at Rodin Square (above) and One Water Street soon to open, Philadelphia's price drop doesn't seem like it will last long. [ABODO]