Analysis

Philadelphia, PA Rent Report: Market Rent vs. HUD Fair Market Rent by ZIP

Oct 14, 20263 min read

The median of the 45 tracked ZIP-level rent indices for Philadelphia is $1,608 a month; the newest ZIP observation is July 2026. This is an unweighted summary of ZIP indices, not a citywide rent estimate. ZIP 19141 has the lowest index at $1,164 and ZIP 19127 the highest at $2,236. Unit mix, observation dates and coverage can differ.

Across Philadelphia County, typical rent is $1,768 as of August 2026. That is up 3.8% from a year earlier and up 20.7% over five years.

HUD's FY2027 Fair Market Rent for a two bedroom in Philadelphia County is $1,860. HUD marks this area for Small Area FMRs; check the applicable ZIP and housing authority schedule. In 41 of 45 tracked Philadelphia ZIPs, the two-bedroom HUD reference exceeds the all-size rent index. This comparison does not establish what a voucher tenancy will pay for a particular unit.

This report compares ZIP-level rent indices and bedroom-specific HUD references for Philadelphia, PA. The tables read our loaded Zillow and HUD data. Neither measure establishes an individual property's market rent or an approved voucher rent.

Market rent and voucher rent by ZIP code in Philadelphia

Each row is one tracked ZIP code. The last column compares a two-bedroom HUD reference with Zillow's all-size rent index. A positive number is not a matched-unit premium or proof that a voucher tenancy can support more rent. Check bedroom-matched comparable rentals and the authority's adopted schedule separately.

ZIP codeAll-size ZORIZORI monthHUD 2BR referenceHUD 3BR referenceHUD basis / year2BR reference vs ZORI
19102$2,077July 2026$2,790$3,320ZIP SAFMR / FY2027+34.3%
19103$2,211July 2026$2,790$3,320ZIP SAFMR / FY2027+26.2%
19104$1,706July 2026$1,930$2,300ZIP SAFMR / FY2027+13.1%
19106$2,182July 2026$2,790$3,320ZIP SAFMR / FY2027+27.9%
19107$2,073July 2026$2,620$3,120ZIP SAFMR / FY2027+26.4%
19111$1,387July 2026$1,660$1,980ZIP SAFMR / FY2027+19.7%
19114$1,506July 2026$1,760$2,100ZIP SAFMR / FY2027+16.9%
19115$1,561July 2026$1,600$1,910ZIP SAFMR / FY2027+2.5%
19116$2,035July 2026$1,590$1,890ZIP SAFMR / FY2027-21.9%
19118$1,801July 2026$2,290$2,730ZIP SAFMR / FY2027+27.2%
19119$1,517July 2026$1,680$2,000ZIP SAFMR / FY2027+10.7%
19120$1,551July 2026$1,610$1,920ZIP SAFMR / FY2027+3.8%
19121$1,608July 2026$1,610$1,920ZIP SAFMR / FY2027+0.1%
19122$1,973July 2026$1,810$2,160ZIP SAFMR / FY2027-8.3%
19123$2,125July 2026$2,310$2,750ZIP SAFMR / FY2027+8.7%
19124$1,219July 2026$1,450$1,730ZIP SAFMR / FY2027+18.9%
19125$1,843July 2026$2,310$2,750ZIP SAFMR / FY2027+25.3%
19126$1,317July 2026$1,450$1,730ZIP SAFMR / FY2027+10.1%
19127$2,236July 2026$2,270$2,700ZIP SAFMR / FY2027+1.5%
19128$1,826July 2026$2,130$2,540ZIP SAFMR / FY2027+16.6%
19129$1,712July 2026$1,990$2,370ZIP SAFMR / FY2027+16.2%
19130$1,941July 2026$2,600$3,100ZIP SAFMR / FY2027+34.0%
19131$1,629July 2026$1,930$2,300ZIP SAFMR / FY2027+18.5%
19132$1,419July 2026$1,460$1,740ZIP SAFMR / FY2027+2.9%
19133$1,523July 2026$1,350$1,610ZIP SAFMR / FY2027-11.4%
19134$1,432July 2026$1,530$1,820ZIP SAFMR / FY2027+6.8%
19135$1,506July 2026$1,650$1,970ZIP SAFMR / FY2027+9.6%
19136$1,479July 2026$1,600$1,910ZIP SAFMR / FY2027+8.2%
19138$1,678July 2026$1,590$1,890ZIP SAFMR / FY2027-5.2%
19139$1,464July 2026$1,560$1,860ZIP SAFMR / FY2027+6.6%
19140$1,346July 2026$1,510$1,800ZIP SAFMR / FY2027+12.2%
19141$1,164July 2026$1,400$1,670ZIP SAFMR / FY2027+20.3%
19142$1,319July 2026$1,680$2,000ZIP SAFMR / FY2027+27.4%
19143$1,574July 2026$1,720$2,050ZIP SAFMR / FY2027+9.3%
19144$1,499July 2026$1,670$1,990ZIP SAFMR / FY2027+11.4%
19145$1,731July 2026$1,830$2,180ZIP SAFMR / FY2027+5.7%
19146$2,026July 2026$2,410$2,870ZIP SAFMR / FY2027+19.0%
19147$2,008July 2026$2,420$2,880ZIP SAFMR / FY2027+20.5%
19148$1,758July 2026$1,950$2,320ZIP SAFMR / FY2027+10.9%
19149$1,607July 2026$1,900$2,260ZIP SAFMR / FY2027+18.2%
19150$1,334July 2026$1,640$1,950ZIP SAFMR / FY2027+22.9%
19151$1,352July 2026$1,490$1,780ZIP SAFMR / FY2027+10.2%
19152$1,614July 2026$1,700$2,030ZIP SAFMR / FY2027+5.3%
19153$1,500June 2026$1,790$2,130ZIP SAFMR / FY2027+19.3%
19154$1,663July 2026$1,840$2,190ZIP SAFMR / FY2027+10.6%

Market rent is the Zillow Observed Rent Index, which covers all unit sizes. Dates and HUD geography are shown for each row.The percentage compares a bedroom-specific HUD reference with an all-size index; it is not a matched-unit premium, an adopted payment standard or an approved rent. Check bedroom-matched comps, the authority's schedule and utility allowance before underwriting.

For the plain average and the full ZIP list, see average rent in Philadelphia by ZIP code.

HUD Fair Market Rents for Philadelphia County

HUD Fair Market Rent is a gross-rent reference that includes tenant-paid utilities. It is not the housing authority's adopted payment standard or an approval for a particular unit. Confirm the applicable schedule, utility allowance and rent-reasonableness review with the administering authority.

Unit sizeFY2027 Fair Market RentChange from FY2026
Studio$1,438+2.9%
1 bedroom$1,558+2.5%
2 bedroom$1,860+2.8%
3 bedroom$2,216+2.1%
4 bedroom$2,445+0.9%

Philadelphia County, HUD fiscal year 2027. Source: HUD Fair Market Rents. These are the latest figures loaded into RentalCalcs, not an authority's adopted payment standards or a rent approval.

If you have not worked with these numbers before, how Section 8 rent is calculated walks through payment standards, utility allowances and the tenant's share.

How rents in Philadelphia County have moved

Observation monthAll-home-types ZORIChange from prior row
December 2015$1,206Not available
December 2016$1,252+3.8%
December 2017$1,286+2.7%
December 2018$1,335+3.8%
December 2019$1,380+3.4%
December 2020$1,392+0.9%
December 2021$1,518+9.0%
December 2022$1,577+3.8%
December 2023$1,622+2.9%
December 2024$1,675+3.3%
December 2025$1,720+2.7%
August 2026$1,768+2.8%

Philadelphia County typical rent, last published month of each year. Source: Zillow Observed Rent Index (all home types, smoothed and seasonally adjusted), refreshed monthly. A partial-year observation compared with the prior December is not a same-month year-over-year change.

What this means if you own a rental in Philadelphia

  • Check the local comparison set. The highest tracked ZIP index is 92.1% above the lowest. Check unit type and bedroom-matched comps before using that spread to price a property.
  • Verify the voucher calculation independently. HUD references and all-size ZORI describe different things. Obtain the housing authority's payment standard and utility allowance, then check rent reasonableness for the actual unit. The table cannot determine a voucher premium, turnover rate or collection outcome.
  • Test the deal without future rent increases. County rents are up 3.8% from a year ago. That observation does not establish the increase available on a particular lease. Compare a flat-rent case before choosing a growth assumption.

To test a specific property, run it through the Section 8 rent analyzer, which compares voucher rent and market rent for your ZIP and unit size. The Pennsylvania HUD-to-rent-index comparison provides broader research context; its ratios do not establish property-level premiums.

Where these numbers come from

  • Market rent: the Zillow Observed Rent Index by ZIP code, refreshed monthly. It blends all unit sizes, so compare it with voucher figures as a guide and not as a like for like two bedroom rent.
  • Fair Market Rents and Small Area FMRs: HUD User, published each fiscal year.
  • County rent history: Zillow rent data, last reading of each calendar year.

Confirm the current payment standard, utility allowance and applicable rules with the administering housing authority before underwriting a voucher tenancy. Use matched comparable rentals for the market-rent assumption.

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