Daily News | Suburban Philly is one of the country’s most competitive rental markets
The suburban Philadelphia region is one of the country’s most competitive rental markets — more competitive than the city of Philadelphia.report by the online rental marketplace RentCafe
“The people that are moving here know in Philadelphia, you get the big city life for pennies on the dollar” compared to other major U.S. cities, said Chris Coulton, a real estate agent with the Center City-based brokerage BMB Living Inc. And Philadelphia is easy to get to for people who want more space in the suburbs.Coulton said he fields calls weekly from renters looking to move to the area from places as far away as California, Nebraska, Florida, and North and South Carolina.
Convenience, accessibility, and affordability drive renters’ choices of where in the region to live, said Bill Lublin, chief executive officer of CENTURY 21 Advantage Gold, based in Northeast Philadelphia and active across the region. Where renters work and whether they can work from home, whether they have school-age children, and lifestyle all factor into demand.
In Miami-Dade County, the country’s most competitive rental market, vacant units were filled in an average of 27 days and 31 renters competed for each one. Harrisburg ranked as the country’s second most competitive rental market. The city of Philadelphia did not make the list of top 20 markets.