Philadelphia is experiencing a noticeable change in its rental landscape as more out of town renters search for homes in the region. New Yorkers make up the largest share of this incoming audience, signaling a growing trend toward affordability driven relocation patterns. Realtor.com findings confirm that local demand has fallen sharply since before the pandemic while external demand has surged.
Key Points
• Philadelphia saw one of the biggest drops in local rental views among the 50 largest metros.
• Local rental traffic fell from about 68 percent in 2019 to roughly 45 percent this fall.
• New York metro renters now account for about 48 percent of out of town interest in Philadelphia listings.
• The median asking rent for zero to two bedroom homes in the region was 1743 dollars in October.
With shifting affordability shaping renter preferences nationwide, Philadelphia continues to attract interest from those seeking value without sacrificing proximity to major East Coast hubs. As the rental market cools nationally, this trend may continue to reshape regional demand.
By: Michaelle Bond | The Philadelphia Inquirer | Nov. 24, 2025
Photo: Courtesy of David Maialetti
