Best Affordable Neighborhoods in Philadelphia, PA
Some of the cheapest neighborhoods in Philadelphia are Frankford, Olney, and East Parkside. These neighborhoods offer some of the lowest rent prices in Philadelphia, making them ideal for renters on a budget. As of May 23, 2026, the average rent in Philadelphia is $1,779, which is 1.4% higher than last year. However, it's important to remember that rental prices can vary significantly based on factors such as location, amenities, and floor plans.
Frankford
Average Rent
$1,096/Month
Year-Over-Year Rent Change
0.9%
Units Available
43 Rentals
When you’re looking for a great Philadelphia neighborhood on a budget, check out Frankford. The average rent is $1,096, compared to the city average of $1,779. Rent prices have increased by 0.9%. Frankford is convenient to Juniata Plaza, Church, and Temple University, Main Campus.
Olney
Average Rent
$1,131/Month
Year-Over-Year Rent Change
2%
Units Available
14 Rentals
Olney is an affordable neighborhood in Philadelphia with an average rent price of $1,131. Compare this to the city average of $1,779. In the past year, rent prices have increased by 2%. Olney provides easy access to Wyoming, Philadelphia International, and Fern Rock Transit Center.
East Parkside
Average Rent
$1,153/Month
Year-Over-Year Rent Change
1.1%
Units Available
11 Rentals
If you’re looking for a great, affordable neighborhood in Philadelphia, East Parkside might be the perfect place! It has an average rent price of $1,153, while the city’s average stands at $1,779. In the last year, prices have increased by 1.1%. East Parkside is near Progress Haddington Plaza, University of the Sciences, and Philadelphia Zoo.
Lawncrest
Average Rent
$1,178/Month
Year-Over-Year Rent Change
1.5%
Units Available
23 Rentals
Lawncrest is a top choice for budget-conscious renters for a variety of reasons. The average rent in Lawncrest is $1,178 while the city average is $1,779. This is a 1.5% difference from last year. Residents enjoy convenient access to Fern Rock Transit Center, Trenton Mercer, and Temple Univ., Health Center.
Belmont
Average Rent
$1,220/Month
Units Available
14 Rentals
When you’re looking for a great Philadelphia neighborhood on a budget, check out Belmont. The average rent is $1,220, compared to the city average of $1,779. Belmont is convenient to Fairmount Park, Please Touch Museum, and University of Pennsylvania.
Logan-Ogontz-Fern Rock
Average Rent
$1,226/Month
Year-Over-Year Rent Change
0.5%
Units Available
52 Rentals
Logan-Ogontz-Fern Rock is an affordable neighborhood in Philadelphia with an average rent price of $1,226. Compare this to the city average of $1,779. In the past year, rent prices have increased by 0.5%. Logan-Ogontz-Fern Rock provides easy access to Drexel Univ., Queen Lane, Trenton Mercer, and Freedom Square.
Kingsessing
Average Rent
$1,243/Month
Year-Over-Year Rent Change
2.7%
Units Available
28 Rentals
If you’re looking for a great, affordable neighborhood in Philadelphia, Kingsessing might be the perfect place! It has an average rent price of $1,243, while the city’s average stands at $1,779. In the last year, prices have decreased by 2.7%. Kingsessing is near Chester Avenue And 53Rd Street, Trenton Mercer, and Chester Avenue And 54Th Street.
Oak Lane-East Oak Lane
Average Rent
$1,247/Month
Year-Over-Year Rent Change
2.5%
Units Available
41 Rentals
Oak Lane-East Oak Lane is a top choice for budget-conscious renters for a variety of reasons. The average rent in Oak Lane-East Oak Lane is $1,247 while the city average is $1,779. This is a 2.5% difference from last year. Residents enjoy convenient access to Pennypack Park, La Salle University, and Fern Rock Transit Center.
Cobbs Creek
Average Rent
$1,252/Month
Year-Over-Year Rent Change
1.3%
Units Available
35 Rentals
When you’re looking for a great Philadelphia neighborhood on a budget, check out Cobbs Creek. The average rent is $1,252, compared to the city average of $1,779. Rent prices have increased by 1.3%. Cobbs Creek is convenient to 9-37 N 52nd St, Philadelphia International, and Progress Haddington Plaza.
West Oak Lane
Average Rent
$1,257/Month
Year-Over-Year Rent Change
2%
Units Available
17 Rentals
West Oak Lane is an affordable neighborhood in Philadelphia with an average rent price of $1,257. Compare this to the city average of $1,779. In the past year, rent prices have increased by 2%. West Oak Lane provides easy access to Philadelphia International, West Oak Lane Shopping Center, and Olney Transit Center.
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Methodology
Transit Score measures access to public transit. Scores range from 0 (minimal transit) to 100 (rider’s paradise). Learn more about the Transit Score methodology. Rental data is sourced from CoStar Group’s Market Trend reports. As a leading authority in commercial real estate information, analytics, and news, CoStar performs in-depth research to build and sustain an extensive database of commercial real estate insights.
We've combined this data with public records to provide the most current rental information available.