Key Highlights:
- Strong renter demand keeps vacancies well below the national average.
- Rent growth has rebounded for Class B and C properties.
- Investment activity surged in2024, with transactions more than doubling compared to 2023.
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Additional Insights:
With more than 1.5 million residents, Philadelphia is one of the ten largest U.S. real estate markets by population, and one of the nation’s biggest biotechnology and life sciences hubs. A variety of industries support the local economy including education and health care institutions, government, and professional services. Greater Philadelphia is also home to 11 Fortune 500companies, including Aramark, Comcast, Cencora, DuPont and Rite Aid.
