Rent Tracker
Rent Inflation in Philadelphia, PA
The average asking rent in Philadelphia, PA is $1,914/month as of 2026-05. That is +3.5% compared to a year ago.
Source: Zillow Observed Rent Index (ZORI) | zillow.com/research
Current Avg Rent
$1,914/mo
as of 2026-05
Year-over-Year Change
+3.5%
24-Month Rent Trend
Monthly ZORI index values for Philadelphia, PA.
| Month | Avg Asking Rent | Change from Prior Month |
|---|---|---|
| 2026-05 | $1,914 | +0.31% |
| 2026-04 | $1,908 | +0.47% |
| 2026-03 | $1,899 | +0.37% |
| 2026-02 | $1,892 | +0.53% |
| 2026-01 | $1,882 | +0.11% |
| 2025-12 | $1,880 | +0.00% |
| 2025-11 | $1,880 | -0.05% |
| 2025-10 | $1,881 | -0.05% |
| 2025-09 | $1,882 | +0.32% |
| 2025-08 | $1,876 | +0.32% |
| 2025-07 | $1,870 | +0.65% |
| 2025-06 | $1,858 | +0.43% |
| 2025-05 | $1,850 | +0.38% |
| 2025-04 | $1,843 | +0.33% |
| 2025-03 | $1,837 | +0.22% |
| 2025-02 | $1,833 | +0.33% |
| 2025-01 | $1,827 | +0.27% |
| 2024-12 | $1,822 | +0.22% |
| 2024-11 | $1,818 | +0.06% |
| 2024-10 | $1,817 | +0.11% |
| 2024-09 | $1,815 | +0.06% |
| 2024-08 | $1,814 | +0.22% |
| 2024-07 | $1,810 | +0.33% |
| 2024-06 | $1,804 | — |
Why Rent Inflation Matters
Shelter is the single largest component of the official CPI, accounting for roughly one-third of the index. But the BLS shelter index tends to lag real-market rent changes by 12–18 months because it measures rents paid by all tenants — including long-term renters locked into old leases. ZORI measures asking rents for new leases, making it a timelier signal of where CPI shelter inflation is headed.
When ZORI is rising sharply in your city, it is a leading indicator that official shelter inflation — and therefore overall CPI — will remain elevated in coming months.
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Data Source
Rent data uses the Zillow Observed Rent Index (ZORI), a smoothed measure of typical market-rate asking rents updated monthly by Zillow Research. ZORI covers single-family homes, condos, and co-ops and reflects asking rents for new leases — making it a more timely indicator than the lagged BLS shelter index. zillow.com/research | Money & Prices