The median rent for one- and two-bedroom apartments in Philadelphia, Pennsylvania, amounted to about 1,390 U.S. dollars at the end of 2023. While the median rent decreased slightly between March 2020 and March 2021, the annual rental growth exceeded 15 percent in January 2022. Furthermore, no notable variation in rental growth was observed in December 2023 in comparison to previous years. Among the different states in the U.S., Pennsylvania ranks as one of the mid-priced rental markets in 2023.
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The global Audio-Visual Equipment Rental market was valued at USD 22.1 billion in 2022 and is projected to reach USD 39.2 billion by 2033, growing at a CAGR of 6.5% during the forecast period. The market growth is driven by increasing demand for audio-visual equipment in events, weddings, concerts, and commercial exhibitions. Moreover, the rising popularity of live streaming and virtual events has also contributed to the market growth. Technological advancements, such as the integration of LED displays and holographic projections, are further expected to drive market growth. Regionally, North America is expected to hold the largest market share throughout the forecast period. However, Asia-Pacific is projected to be the fastest-growing region, driven by increasing disposable income and growing demand for audio-visual equipment in developing countries. Key players in the market include AA Rental, All Seasons Rent, Audio Visual Rentals Denver, AV Philadelphia, Creative Concepts, Eagle AV Rental, Evans Audio, GSE Audiovisual, Meeting Tomorrow, PRG Gear, Rentex AV Rentals, Showcore, Solotech, Yelp, and Eventective.
The vacancy rate of big-box warehouses in Eastern Pennsylvania Tri-State (Pennsylvania-New Jersey-Delaware) rose sharply in 2023, after falling to a record low in 2021. In 2023, about 5.8 percent of big-box industrial and logistics properties were vacant, up from the three percent in 2022, when the vacancy rate was at its lowest. Despite the increase, the vacancy rate in the Eastern PA-Southern NJ big-box market was lower than the average for the country. Big-box buildings refer to large industrial buildings used for distribution.
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The median rent for one- and two-bedroom apartments in Philadelphia, Pennsylvania, amounted to about 1,390 U.S. dollars at the end of 2023. While the median rent decreased slightly between March 2020 and March 2021, the annual rental growth exceeded 15 percent in January 2022. Furthermore, no notable variation in rental growth was observed in December 2023 in comparison to previous years. Among the different states in the U.S., Pennsylvania ranks as one of the mid-priced rental markets in 2023.