RentCafe has released its first rental activity report of the year, ranking the top 150 U.S. cities based on renters’ intent to move.

Philadelphia found itself among the top 50 of the list, finishing at No. 49, due to its high rental activity in January. 

Views of available Philadelphia rent listings increased by 71 percent compared to the same time last year.

Consequently, the available listings in the city have dropped by 17 percent year-over-year.

In Philadelphia, the average rent is $1,887. In addition, about 29 percent of apartment rents in Philadelphia range between $1,501-$2,000, while apartments priced over $2,000 represent 31 percent of apartments.

Philadelphia ranks as the fifth-most attractive city in the Northeast for apartment seekers, sandwiched between Boston and Manhattan. 

Another key fact to look at is that Philadelphia is expected to see nearly 1,000 office-to-apartment conversions, representing a 136 percent increase year-to-year.

Philadelphia is 14th on the list of U.S. locations with the highest conversion numbers. 

The most sought-after city in the U.S. according to the report is Minneapolis, Minnesota; with Queens, New York; Atlanta, Georgia; Detroit, Michigan; and Colorado Springs, Colorado, rounding out the top five.

Read more about the most sought-after cities in the U.S. for apartment seekers at RentCafe.

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