Philadelphia, Pennsylvania’s cost of living is 17% higher than the national average. According to myapartmentmap.com, the average rent for a studio apartment in Philadelphia is $1,038. The numbers are officially in: Philly’s real estate market got off to a big start in 2017, with home prices rising an average of 5 percent. Philadelphia, Pennsylvania. Philadelphia Rent. Using research conducted by Drexel Lindy Institute’s Kevin Gillen, Pew reported that median home prices were 38 percent higher in 2016 than in 2010, rising from $103,000 in 2010 to $142,000. Studio apartments in Philadelphia rent for $1,158 a month, while 1-bedroom apartments ask on average $1,378 a month; the average rent for a 2-bedroom apartment is $1,669. The average house price in Philadelphia is £175,572. A one-bedroom apartment carries an average rent of $1,152. Using research conducted by Drexel Lindy Institute’s Kevin Gillen, Pew reported that median home prices were 38 percent higher in 2016 than in 2010, rising from $103,000 in 2010 to $142,000. Philadelphia is perhaps the brightest housing market in the nation, with one report suggesting a price growth of 16.6% (13.4% last May).. Prices have risen 11.3% in the last year and an astonishing 31% in the last 2 years according to Zillow. The median rent price in Philadelphia is $1,490, which is lower than the Philadelphia-Camden-Wilmington Metro median of $1,550. Find average house prices, current average values, other historic property data & request a valuation from an estate agent. The Philadelphia Home Construction Cost Report is a concise report on everything you need to know about the cost of home construction in the Philadelphia area. As a matter of fact, according to 2018 data from the National Association of Realtors, the median sale price for such a home in Philly is $224,600. Philadelphia Home Construction Costs & Prices - ProMatcher Cost Report: Philadelphia Home Construction Costs & Prices. Summary about cost of living in Philadelphia: Four-person family monthly costs: 3,471.81$ without rent (using our estimator). Sold vs list price was … The median list price per square foot in Philadelphia-Camden-Wilmington Metro is $151, which is higher than the Pennsylvania average of $133. Rent in Philadelphia is, in average, 53.08% lower than in … The average Philadelphia house price was $215K last month, up 14.3% since last year. As the chart above reveals, some of the biggest hikes in home prices occurred in Greater Center City, the River Wards, and South Philly. You can still find a single-family home in the Philadelphia metro area for under $300,000. Here are the five big takeaways from the report’s state on housing. Two-bedroom places rent for an average of $1,503 and three-bedroom places go for $1,689. The median price of homes currently listed in Philadelphia-Camden-Wilmington Metro is $262,000 while the median price of homes that sold is $213,700. The average rent for an apartment in Philadelphia is $1,523, a 2% increase compared to the previous year, when the average rent was $1,495. Average Home Construction Cost in Philadelphia. The Philadelphia, PA housing market is somewhat competitive, scoring 68 out of 100. In the latest quarter, Philadelphia's appreciation rate has been 1.63%, which annualizes to a rate of 6.66%. The median price of homes currently listed in Philadelphia is $234,900 while the median price of homes that sold is $176,200. A single person monthly costs: 964.41$ without rent. The median price of homes currently listed in Fishtown is $339,900 while the median price of homes that sold is $320,900. Philadelphia Housing Costs. Cost of living index in Philadelphia is 24.19% lower than in New York.