Philadelphia Rental Rates???

[Douglas Gratz]

Hello, so I am looking to invest in Philadelphia but am having trouble figuring out what I could get for rent. Per the Section 8 map, they say they pay $900 for a 1 bedroom and $1090 for 2 beds and so on in most zip codes. I am looking to invest in fishtown, germantown, Kensington, west philly, and south philly. Generally in neighborhoods that have not seen a boom in development. The problem is, from all my research I only see much lower rent rates such as $700 and $900 respectively . Do these houses only rent for top dollar if they are newly renovated . Does anyone have experiences in philly and if so, what are you getting for rents? Any help would be greatly appreciated!

[Jonathan Dempsey]

@Douglas Gratz

As each neighborhood has its own little market for pricing, it is probably best to look at comps renting/for rent in each area.   This is truly the best and fastest way to arrive at the answers you desire.

Another thing to keep in mind would be trends in the area.  

Lastly, and I could be wrong about this but have read about it happening elsewhere, but it is possible that you can rent at a higher rent to section 8 tenants than you would be able to at market rates in some of these areas.  

Best,

JD