Opening Thoughts
What’s The Row Report?
Hi, I’m Kevin Moyer. I’m an experienced local Philadelphia Broker, Attorney, and investor. And this is the first edition of The Row Report.
I created The Row Report to improve Philly real estate. This recurring newsletter packed with useful data and local insights will act as a conduit to attract like-minded investors, developers, and advocates with the collective power to change culture and improve housing in Philadelphia.
What you get: current, recurring, reliable Philadelphia market intelligence you are unlikely to find in one place anywhere else. Real-time trends, local operating data, and on-the-ground observations that help owners, operators, and investors make better decisions.
What I get: over time, a growing community of people who care about improving Philadelphia rental housing and moving the city in a better direction.
Each issue will start with something I’m seeing in the city, then get into the numbers, trends, and developments that matter to Philadelphia property owners and investors.
Please enjoy this free publication and share it with those in your network who want to build a more prosperous Philadelphia.
Philadelphia Rental Market Data
Philadelphia Median Days on Market
Days on Market doesn’t quite show it yet (it’s a lagging indicator)- but March 2026 is bringing signs of new life to the local leasing climate. I think we’ll be down in the 40’s in April or May. After a multi-year leasing winter I think we might be moving back toward equilibrium.
Philadelphia Median Leads Per Day Per Listing
Tax refund season is here & leads are pouring in. So far in March 2026- Leads per Listing per Day are up 175% MoM and 82% YoY. This is the first leasing season since 2022 where I feel optimistic the market is turning a bit in the lessor’s favor.
Ave. Apartment Monthly Rent and Total On-Market Rentals
Philadelphia Average Apartment Rent is actually trending slightly negative. Rents are still struggling to increase to the place they need to be to offset increased operating costs for investors. If seasonality continues as it has in the past, you’ll see the most competition in the leasing market in May.
Real Estate News & Events
Props to the HAPCO team for reaching a settlement to delay the vote on the “Safe Healthy Homes” Bills. These bills are BIG trouble. Immediately for Philly investors and in the long run for Philly tenants. I’ll have more on this in the next issue.
This is New York- not PA, but still a very important development. Tenant organizations have been making the (insane) push that owners MUST participate in the HCV (Section 8) Program. That was just struck down in a 5-0 opinion by a very liberal New York State Appeals Court. Just a matter of time until PA follows suit?
PHA gobbles up 200 more units in Olde Kensington at an average cost of $250,000 each. Honestly it feels like PHA has been bailing out some rough multi-family projects throughout Philly. They continue to expand their unit count. PHA now houses 80,000 Philadelphians and is the 4th largest housing authority in the nation.
Philly Investor Tips
Appeal your L&I violations. Immediately and every time.
If you get an L&I violation on your property, do not let it sit. Formally appeal it, and do it fast. The appeal preserves your rights, gives you a chance to challenge the allegations, and puts you in a position to deal with the department through the proper process instead of just absorbing the violation.
Anyone who has tried to work with Philadelphia Dept of Licenses and Inspections in the past will attest to how it’s pretty much impossible to get any reasonable responsiveness from your inspector. The process will be like pushing a rope and you’ll need all the time you can get to actually clear the violations.
Why it matters: if you do nothing, you can be exposed to daily fines, and unresolved violations can create bigger problems like blocking a Certificate of Rental Suitability or putting your rental license renewal at risk. In other words, ignoring it can turn one notice into a much more expensive problem. Even if you perform the required work immediately it may be weeks until the inspector gets back to you or schedules a follow up inspection. They constantly have ‘training’ or other issues coming up to complicate closing violations.
Appeal first, organize second. File the appeal within the deadline, pull the full violation details from Atlas, gather your photos, permits, invoices, and inspection records, and get your position together while the case is pending.
A lot of owners make the mistake of treating a violation notice like a warning. It’s not. It’s a clock. And the worst move is doing nothing.
Tenant Tales
How Joseph Hamilton was evicted 5 times in 5 months
One stolen identity can ripple across the whole city. In 2025, the name Joseph Hamilton was tied to five eviction filings at five different Philadelphia properties between July and November. But the real Joseph Hamilton was actually the victim of a sophisticated identity theft scheme. Goes to show just how much damage one fraudulent application trail can do.
The formula is simple: a strong credit profile, fake pay stubs, a believable story, and enough coordination to get through screening using ‘friends’ or ‘family’ to grab keys and get into the unit. By the time the truth comes out, the keys are gone, the applicant has disappeared, and the eviction process is already underway.
It’s crazy that Philly does not have a mechanism in place to deal with these situations faster than trudging through LT Court. The process takes months even in cases of blatant in-your-face fraud.
Closing Thoughts
I dropped Philadelphia Councilmember Nicholas O’Roarke’s latest version of proposed Safe & Healthy Homes Act Bill 250329 into ChatGPT along with this hypo:
😮😮 I’ll have more on this proposed bill package & the effect it will have on Philly housing in the next issue. It’s the most impactful local legislation since the lead law.