Market Snapshot | Philadelphia Q2 2025

Market Overview

In Q2 2025, Philadelphia’s multifamily market continued to stabilize. Average rent was $1,813 and occupancy stood at 94.2 percent. Net absorption through H1 reached 5,756 units, nearly matching 4,879 completions, as demand strengthened and 12-month absorption totals doubled those of 2023. The under-construction pipeline shrank sharply to just 2.5 percent of base inventory compared to 7.2 percent in 2023, reducing future supply pressure and supporting market balance.

About MMG

MMG Real Estate Advisors delivers multifamily market intelligence and capital strategy guidance across major U.S. metros. Their reports analyze rental trends, occupancy rates, absorption, and supply data to give investors, owners, and developers clear insight into evolving market fundamentals.