If you’re on the hunt for an affordable rental in Philadelphia, you’re in luck. Philadelphia is a city full of diverse neighborhoods, each with its own unique personality and charm. From trendy areas like Fishtown and Northern Liberties to historic sections like Old City and Society Hill, there’s a rental for every budget.
Here are some tips to help you find the most affordable rentals in Philadelphia:
Determine Your Budget
Before you start your search, it’s essential to know how much you can afford to spend on rent each month. Typically, experts recommend that rent should not exceed 30% of your gross income.
For example, if you make $50,000 a year, your monthly rent should be no more than $1,250.
Check Online Rental Listings
Apartment and housing websites are excellent resources for finding Philadelphia apartments for rent. You can filter your search by price, location, number of bedrooms, and other amenities.
Look for Apartments in Less Popular Neighborhoods
If you’re looking to save money, consider renting in an up-and-coming neighborhood. While you may not have the same amenities as a more popular area, you may be able to find a more affordable rental.
Consider A Roommate
Sharing an apartment with a roommate can help lower your monthly rent expenses. If you have a friend or family member who is also looking for a rental in Philadelphia, consider splitting the cost of rent and utilities.
Be Flexible with Your Move-in Date
If you’re not in a rush to move, consider waiting until the off-season when there’s less demand for rentals. Landlords may be more willing to negotiate on the rent price during these times.
Attend Open Houses
Attending open houses is an excellent way to see the apartment in person and get a feel for the neighborhood. You can also ask the landlord or property manager if there are any move-in specials or discounts available.
Costs to Be Expected
Philadelphia is a great city for apartment living, with many options for renters of all budgets. The average rent for a one-bedroom apartment in Philadelphia is around $1,200 per month, while a two-bedroom apartment averages around $1,500 per month.
Of course, these prices can vary depending on the neighborhood, the size of the apartment, and the building’s amenities.
Neighborhoods to Explore
Some of the most popular neighborhoods for renters in Philadelphia include Center City, Rittenhouse Square, Graduate Hospital, Northern Liberties, and Fishtown. Center City is a bustling commercial and residential area with many high-rise buildings and condos.
Rittenhouse Square is a trendy neighborhood with lots of shops, restaurants, and nightlife options. Graduate Hospital is a quieter neighborhood with many rowhouses and townhouses for rent. Northern Liberties and Fishtown are up-and-coming neighborhoods with lots of new construction, restaurants, and entertainment options.
Finding an affordable rental in Philadelphia may take some time and effort, but it’s definitely possible. By determining your budget, checking online rental listings, looking for apartments in less popular neighborhoods, considering a roommate, being flexible with your move-in date, and attending open houses, you can find the perfect rental for your needs and budget.
