Philadelphia, PA Multifamily Market Report | Yardi Matrix | Q4 2025

Market Overview

Philadelphia ranked as the top-performing Mid-Atlantic multifamily market through the end of 2025, with average asking rents of $1,840 up 2.2% year over year, placing sixth among the top 30 markets tracked by Yardi Matrix. Occupancy held at 95.6% in September, above the national rate, even after two consecutive years of elevated supply growth. Developers delivered 6,065 units through October at a pace 100 basis points below the national average, keeping new supply measured. Employment grew 1.4% year over year through August, adding 61,600 net jobs led by education and healthcare. Investment volume of $760 million was down 17.4% year over year, though a newly approved 1.4 million square-foot warehouse project in the Bellwether District points toward continued economic expansion.

About Yardi Matrix

Yardi Matrix is a commercial real estate data and research platform serving multifamily investors, developers, and property managers across the U.S. Their Philadelphia Multifamily Market Report for December 2025 tracks asking rents, occupancy, completions, and investment volume to help owners and investors assess market conditions and refine investment timing. To read the full report, click here.