Annual rental prices across Philadelphia cost anywhere from $12 to $38 per square foot, according to a new analysis. No doubt spurred on by the increasing population and demand for housing, Center City West and Center City East have the highest annual residential rents per square foot, at $38.76 and $34.38, respectively.
Those numbers come from the real estate data startup NeighborhoodX. For the report, it looked at a mix of proprietary analysis and public data rather than median rental prices, which can be skewed since some neighborhoods have larger units.
Not too surprisingly, Port Richmond ($12.06/sq ft) and Grays Ferry ($13.32) are the most affordable of the neighborhoods examined.
Falling right in the middle were the neighborhoods Bella Vista, Northern Liberties, and Graduate Hospital, which a separate report recently predicted to be the hottest neighborhood of 2016. Rents per square foot are in the $20 range.
· Annual residential rent/sq ft [NeighborhoodX]