Philadelphia Multifamily Market Report
By PropZone Research · Data through Q1 2025 · Aggregated from Colliers, Lee Associates
Quarterly multifamily market indicators for Philadelphia, aggregated by PropZone from Colliers, Lee Associates. As of Q1 2025, average asking rent was — with a 5.4% vacancy rate.
Projected current multifamily pricing — Philadelphia
low confidenceProjected asking rent
$2,106/unit/mo
Estimated sale value
$212,107–$265,134/unit
Modeled estimate (income approach) shown as a range — not an appraisal. Projected asking rent × occupancy × net-operating-income margin band ÷ market cap rate, from Q1 2025 multiple brokerages data (cap rate 5.7%, asking rent held flat). Assumes ~92% occupancy (vacancy not reported) and a 52–65% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q1 2025 | — | 5.4% | 0K SF | — | Colliers |
| Q1 2025 | $2106.00/SF | 7.0% | 12K SF | — | Lee Associates |
Frequently asked questions
- What is the average asking rent for multifamily space in Philadelphia?
- PropZone aggregates multifamily asking-rent data for Philadelphia from major brokerage market reports; see the quarterly table for the latest available figures.
- What is the multifamily vacancy rate in Philadelphia?
- The multifamily vacancy rate in Philadelphia was 5.4% as of Q1 2025 (Colliers).
- Where does PropZone's Philadelphia market data come from?
- This report aggregates quarterly multifamily market data for Philadelphia from Colliers, Lee Associates.
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