A San Francisco-based rental app called Lovely says that rent in “South Philly East” has gone up 11 percent in the last year. In Graduate Hospital, they say, rent has gone down 7 percent.
The median rental price for South Philly East — their boundaries aren’t clear — went from $978 in January 2013 to $1099 now, according to their figures. In Graduate Hospital, rent went down from $1600 to $1495.
Technically Philly reported the survey, noting that the highest rent increase was in the Cedar Park neighborhood in West Philly at 17 percent. We’ve reached out to Lovely to find out how they came up with these numbers. You never know with these kinds of listicle surveys, which are marketing ploys to get people to come to their website. In this case, apparently it worked.
But the finding would jibe with anecdotal evidence that it is certainly getting more expensive on the east side of Broad. But 11 percent? And is Graduate Hospital getting any cheaper? That seems doubtful.
What do you think?