Cheap Homes for Rent in Philadelphia, PA from $500 (853 Rentals)

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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property at 332 N 62nd St

$745 - $1,295

Studio To 2 Bedroom Rentals

Available Now

332 N 62nd St

PhiladelphiaPA19139

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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Beyond the Cheesesteak: The Ultimate Philadelphia Transplant Guide

Get the true Philly experience! The Philadelphia Insider's Guide to the city's distinct neighborhoods (Fishtown, Queen Village, Society Hill) and must-see local attractions from ApartmentHomeLiving.com.

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Philadelphia's Best Affordable Neighborhoods

Learn about Philadelphia and the best places to live with original content written by our Local Expert Richard Corrigan

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The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Philadelphia, PA Local Guide

Cheapest Neighborhoods for Apartments in Philadelphia, PA

Pricing Updated: 01/18/2026

Current apartment rentals in the Philadelphia, PA area range in price from $499 to $24,995 with an overall median price of $3,239. The three Philadelphia neighborhoods with the lowest median rent pricing are Price Tract at $880, Bridesburg at $550, and Haddington at $700. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Philadelphia Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Price Tract$1,325$8806
Bridesburg$1,337$55015
Haddington$1,340$70033
Millbourne$1,385$72564
Tacony Wissinoming$1,397$83027
Frankford$1,400$55036
Tacony$1,400$83032
Downtown Chester$1,407$75036
Near Northeast Philadelphia$1,410$80030
Edgemont Park$1,440$75054

Cheapest Available Philadelphia Apartments for Rent

 

The cheapest available apartment rental in Philadelphia, PA is a Studio unit found at Four Freedoms House- Seniors 62 yrs and older in the West Mount Airy neighborhood priced from $502. Student Housing - Newly Renovated in the Belmont neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $680. Here is today’s list of the most affordable Philadelphia apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Four Freedoms House- Seniors 62 yrs and olderEfficiencyStudio,1BA$502
Student Housing - Newly Renovated1BR/1.0BA1BR,1BA$680
Stonehurst ApartmentsQuartzStudio,1BA$750
1515 N. 16th3BR/3.0BA3BR,3BA$750
Oak Lane Court Apartments0/1.0Studio,1BA$750

Best Value Apartments for Rent in Philadelphia, PA

As of January 18, 2026 the best value apartment in the Philadelphia area is the $0.92 price per square foot 1124 S 15th St Model at 1124 S 15th St, Unit 1st Fl in the in the Market East neighborhood starting from $1,960. The second greatest value Philadelphia apartment is the 376 Beverly Boulevard 2nd floor Model at 376 Beverly Boulevard 2nd floor, Unit Second floor starting at $1,300 with a $0.65 price per square foot in the Beverly Hills neighborhood. Here is today’s list of the best values for Philadelphia apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
1124 S 15th St, Unit 1st Fl1124 S 15th St1BR,1BA$0.92
376 Beverly Boulevard 2nd floor, Unit Second floor376 Beverly Boulevard 2nd floor2BR,1BA$0.65
1816 W Norris St, Unit 11816 W Norris St4BR,3BA$0.95
2219 N 16th St, Unit Duplex Apartments2219 N 16th St3BR,1.5BA$0.83
4046 Ogden St, Unit C4046 Ogden St3BR,1BA$0.92
1816 N 17th St, Unit A1816 N 17th St3BR,2BA$0.67
1432 E Cheltenham Ave, Unit #2 Front1432 E Cheltenham Ave1BR,0.5BA$0.54
The Legacy at Drexel Arms4x24BR,2BA$0.58
Skyline Apartments2 Bedrooms, 1 Bathroom2BR,1BA$0.67
1620 Foulkrod St, Unit 1st Fl - A1 - SRO1620 Foulkrod StStudio ,1BA$0.79

Beyond Campus: Exploring the Best Philadelphia Neighborhoods for College Life

Find your perfect Philly college neighborhood. We break down the best areas for student renters near major universities, from walkable West Philly to the trendy spots in North Philly.

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Unlock Your Philly Commute: Your Guide to Renting Near the City's Biggest Employers

Live like a local! Explore diverse Philly neighborhoods—from trendy Fishtown to historic Cedar Park—with an easy commute to your job. Your expert guide is here.

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Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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Quick Rent Budget Calculator

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The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Philadelphia, PA Rentals by Map

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See the most popular apartments and homes in Philadelphia, PA

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Philadelphia, PA Area Reviews

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Frequently Asked Questions about Philadelphia

What type of rentals are currently available in Philadelphia?

There are currently 8289 Apartments for Rent in Philadelphia, PA with pricing that ranges from $499 to $24,995. There are also 2549 Single Family Homes for rent, Condos, and Townhome rentals currently available in Philadelphia ranging from $500 to $12,500.

What is the current price range for Rental Homes in Philadelphia?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Philadelphia ranges from $500 to $12,500 with an average monthly rent of $3,444.

How much are larger Three and Four Bedroom Rentals in Philadelphia?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Philadelphia range from $599 to $14,995, while Three Bedroom Homes, Condos, and Townhomes for rent range from $850 to $6,500. Four Bedroom Single-Family rentals are also available starting from $700 and Four Bedroom Apartments start at $670.

Expert Rental Resources

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

Helpful Local Expert Guides

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A Local Expert's Guide to the Best Affordable Neighborhoods in Philadelphia

Written by: Richard Corrigan

There’s always been more to Philadelphia than meets the eye. When I first came here, I saw it as a tough, gritty town.

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Unlock Your Philly Commute: Your Guide to Renting Near the Citys Biggest Employers

Written by: Richard Corrigan

Philadelphia is a city of neighborhoods. Those who live here take great pride in our specific corners of the city.

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Beyond the Cheesesteak: The Ultimate Philadelphia Transplant Guide

Written by: Richard Corrigan

Welcome to Philadelphia! It’s the city of brotherly love, cheesesteaks, Ben Franklin and Rocky Balboa. And I don’t think you need me to tell you, it’s also a lot more than that.

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Beyond Campus: Exploring the Best Philadelphia Neighborhoods for College Life

Written by: Richard Corrigan

Philadelphia isn’t necessarily thought of as a college town, but it’s home to some of Pennsylvania’s biggest colleges and universities, and thousands of students call the city home.

Articles, How-To's, and Tips

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate!