Philadelphia may not have all the amenities as its big city neighbor to the north, but lower rents are retaining young talents.
The publication, citing a recent Zumper study that found median rent for a Philadelphia one-bedroom apartment in November 2015 was down from the previous year to $1,240, and dropped 4.6 percent from the previous quarter, added that “job prospects, a growing economy, and restaurants and nightlife — is keeping startup companies here and keeping talented young workers here.”
Sourcing several more studies, Philadelphia Magazine added that millennial growth is outpacing the pricier cities of Boston and San Francisco.
Philadelphia is also doing a good job of retaining its non-native college students after graduation.
But, the article warns, that if Philadelphia rents were to raise too dramatically, then those valuable millennials could be on the next train to New York.