Matrix Multifamily Philadelphia Report-Fall 2021 December 31, 2021

Philadelphia’s Playing for a Comeback

Metro Philadelphia rents rose 1.2% on a trailing three-month basis as of October, to an above-U.S. average of $1,589. Investment activity in Philadelphia heated up in 2021, with the overall sales volume of the first 10 months of the year already outpacing 2020’s annual total.