Feb 24, 2025 - Real Estate
Philadelphia-area renters staying put
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Most tenants in the Philadelphia region are long-term renters, per an analysis by Redfin.
Why it matters: It can mean fewer units on the market at a time when the region is experiencing a housing crisis.
By the numbers: The lion's share of renters — 40% — remains in the same unit between one and four years, per Redfin data from 2023.
- Another 17% stay put for at least a decade.
Meanwhile, 23% of Philly-area tenants linger in the same abode for 12 months or less.