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The New York Observer

STAT OF THE DAY: New York vs. Philly Rents

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February 21, 2008 | 5:51 p.m

The Manhattan rental market reports are popping out this week (I covered an authoritative one earlier this week). They show what many already know deep in their guts and wallets: Manhattan is the most expensive rental market in the United States.

How expensive? Compare it to Philadelphia: The average one-bedroom rent in one of the city's nicer neighborhoods--Rittenhouse Square--was $1,544, according to 2006 numbers from the Center City District & Central Philadelphia Development Corp. In Harlem in February, the monthly one-bedroom rents in nondoorman buildings averaged $1,634, according to The Real Estate Group New York.

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