West Chester, Pennsylvania Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the West Chester, Pennsylvania rental market.
Highlights
An apartment for rent in West Chester, Pennsylvania typically goes for $2,013 per month, while a single-family home for rent in West Chester, Pennsylvania has a monthly cost of around $2,783. Renter-occupied units make up 67% of the local housing market, while the rental vacancy rate in West Chester, Pennsylvania is at 3.2.
West Chester, Pennsylvania
Average Apartment Rent
$2,013
Y-o-Y Change in Average
Apartment Rent
2.2%
Average Single-Family Rent
$2,783
As of July 2024
Compared to a year ago, West Chester, Pennsylvania apartments have recorded a 2.2% rent increase.
West Chester, Pennsylvania |Average apartment rent trend
West Chester, Pennsylvania| Average apartment rent
West Chester, Pennsylvania | Apartment rent ranges
At 57.48%, apartments priced $1,500 - $2,000 represent the bulk of West Chester, Pennsylvania rentals, while condos priced $1,000 - $1,500 hold the lowest share of the market – 3.43%.
West Chester, Pennsylvania | Housing tenure**
Renters take up 67% of West Chester, Pennsylvania real estate, occupying a total of 4,694 units, while homeowners live in 2,302 properties.
Median number of rooms of renter-occupied housing units**
3.7
Renter median household income**
$55,968
Average household size of renter-occupied housing units**
1.98
Rental vacancy rate**
3.2%
West Chester, Pennsylvania | Renter-occupied housing units by no. of bedrooms**
There are 1,894 rentals in West Chester, Pennsylvania with 2 beds making up the highest share of the market, at 40%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 54 units. Overall, the median number of rooms in West Chester, Pennsylvania homes for rent is 3.7.
West Chester, Pennsylvania |Renter-occupied units by age of householder**
Most condos for rent in West Chester, Pennsylvania are occupied by residents in the 25 - 34 years age group (36%), followed by those in the 15 - 24 years age group (26%). At the same time, people in the 55 - 59 years age group make up the lowest share of the local rental market – 2%.
West Chester, Pennsylvania | Renter-occupied housing units by family type**
West Chester, Pennsylvania | Renter-occupied housing units by the presence of own children**
A total of 1,071 apartments for rent in West Chester, Pennsylvania, or 23% of all rentals are family households. Additionally, 9% of rental homes include children under the age of 18 – that’s 432 units. All in all, the median size of a renter-occupied household in West Chester, Pennsylvania is 1.98.
West Chester, Pennsylvania | Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 51% of the rental market. In contrast, residents with less than a high school degree reside in 6% of the homes for rent in West Chester, Pennsylvania.
West Chester, Pennsylvania | Renter-occupied units by year structure built**
The highest share of West Chester, Pennsylvania apartment rentals, namely 36% or 1,675 units, were Built 1939 or earlier, followed by those Built 1970 - 1979 (20%, 927 units), and the ones Built 2010 - 2019 (10%, 482 units).
West Chester, Pennsylvania | Renter-occupied units by year householder moved in**
Median year renter moved into unit2017
Most West Chester, Pennsylvania renters (46%) moved in 2010 to 2017, while only 1% of them moved in 1989 or earlier. Overall, the median year renters have occupied their West Chester, Pennsylvania condos for rent is 2017.
West Chester, Pennsylvania | Renter-occupied housing units by vehicles available**
When it comes to transportation options, 46% of West Chester, Pennsylvania renters have 1 vehicle available per household, 23% of them have 2 vehicles available, and 21% have No vehicle available.
West Chester, Pennsylvania | Means of transportation to work of householders living in renter-occupied housing units**
West Chester, Pennsylvania |Geographical mobility in the past year for householders living in renter-occupied housing units**
West Chester, Pennsylvania | Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all West Chester, Pennsylvania apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates