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Philadelphia vs York for Rental Property Investing

Side-by-side comparison of Philadelphia, PA and York, PA — cap rates, rent, prices, and investment metrics.

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Philadelphia wins 7–0 across key metrics
Philadelphia leads on cash flow (3.45% vs 2.91% cap rate)
Metric
Philadelphia, PA
York, PA
Est. Cap Rate
3.45%
2.91%
Median Home Price
$375,000
$300,000
Median Monthly Rent
$1,860
$1,360
1% Rule
0.50%
0.45%
GRM
16.8x
18.4x
Price / Income
7.1x
8.2x
Property Tax Rate
1.36%
1.38%
Vacancy Rate
5.8%
6.5%
Population Growth
0.2% / yr
0.1% / yr
Annual Appreciation
2.5%
2.2%
Population
1,576,251
45,000
Median Income
$52,800
$36,800

Philadelphia vs York: Which Is Better for Investors?

Cash flow: Philadelphia has the edge with an estimated cap rate of 3.45% compared to York's 2.91%. Neither city passes the 1% rule outright, so deal sourcing and value-add strategies become more important. Median home prices are $375,000 in Philadelphia vs $300,000 in York, while rents come in at $1,860/mo and $1,360/mo respectively. For context, the national average cap rate is 3.81% and average price is $333K.

Growth & appreciation: Philadelphia is growing faster at 0.2% annually vs York's 0.1%. Philadelphia leads on home value appreciation at 2.5% per year.

Costs & risk: Property taxes are 1.36% in Philadelphia vs 1.38% in York. Vacancy rates of 5.8% and 6.5% are mixed — Philadelphia has the tighter rental market.

Entry point: York offers a lower entry at $300K vs Philadelphia's $375K — a difference of $75K. With a 20% down payment, that's $60K vs $75K. Philadelphia's higher price may be justified by stronger growth.

Bottom line: Philadelphia edges out York on most key metrics. While cap rates are moderate at 3.45%, Philadelphia's overall profile is stronger. Use our free calculators to model specific deals in Philadelphia or York.

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Philadelphia, PA
3.45% cap rate · $375,000 median · $1,860/mo
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York, PA
2.91% cap rate · $300,000 median · $1,360/mo
Full analysis →

Frequently Asked Questions

Is Philadelphia or York better for rental investing?
Philadelphia wins 7–0 across our 7 key metrics (cap rate, 1% rule, GRM, taxes, vacancy, growth, appreciation). Philadelphia's 3.45% cap rate and $375K median price edge out York's 2.91% at $300K.
What is the cap rate difference between Philadelphia and York?
Philadelphia has a 3.45% cap rate vs York's 2.91% — a difference of 0.54 percentage points. This is a relatively small difference — other factors like growth, taxes, and local market conditions may matter more. For context, the national average is 3.81%.
Which city has lower property taxes?
Philadelphia has lower property taxes at 1.36% vs 1.38%. On a $338K property, that's a difference of approximately $960/year in tax expense — money that goes directly to (or from) your cash flow.
Which city is growing faster?
Philadelphia is growing at 0.2% annually vs York's 0.1%. Both cities have slow growth — focus on the strongest neighborhoods. Philadelphia's appreciation rate of 2.5% also leads on home value growth.

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