Matrix Multifamily Philadelphia Report-May 2025

Market Overview

Philadelphia’s multifamily market fundamentals improved in early 2025. Advertised asking rents increased by 0.4 percent on a trailing three-month basis through March, reaching $1,821—30 basis points above the national average. In 2024, developers completed 8,470 new multifamily units, marking the strongest year for deliveries in eight years.

About Yardi Matrix

Yardi Matrix is a leading provider of commercial real estate data and analytics, specializing in multifamily and other asset classes. Their metro-level multifamily reports deliver robust insights on rent trends, occupancy, completions, and pipeline activity to support data-driven decision making.