18 Nov 2025
Last week the Radius+ team was in Philadelphia, so we took a closer look at the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD CBSA.
Supply added by year relative to total:
Philadelphia saw a heavy influx of supply in 2021 which was quickly absorbed due to the COVID drivers during that time. This attracted more new development which delivered in 2023 once demand had subsided causing rental rates to crash. With 2024 and 2025 still seeing new supply added albeit more measured- rental rates will take a while before demand catches up with the supply and rates begin to make sense for new development.
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD CBSA.
