# Philadelphia Class A office rents and incentives

> Headline Class A rent in Philadelphia is around $38/sqft/yr, with 14 months of typical rent-free on a 10-year term.

**Canonical URL:** https://classa.info/cities/philadelphia/rents-and-incentives
**Page type:** city-topic
**Last updated:** 2026-04-15T00:00:00.000Z
**License:** CC BY 4.0 with attribution to Class A Atlas (https://classa.info).

## TL;DR
- Headline Class A rent: $38/sqft/yr.
- Trophy submarket rents (Center City West) push to roughly $54/sqft/yr.
- Typical concessions on a 10-year deal: 14 months free rent.
- Vacancy stands at 21.6% — market trend is flat.
- Use effective rent (face minus PV of concessions), not headline, to compare deals.

## Key facts
- **city**: Philadelphia
- **country**: United States
- **region**: Americas
- **classARentLocal**: $38/sqft/yr
- **classARentUsd**: $38/sqft/yr
- **vacancy**: 21.6%
- **typicalLeaseYears**: 10
- **typicalRentFreeMonths**: 14
- **submarkets**: 5
- **primeYieldPct**: 6.9%
- **trophyRent**: $54/sqft/yr
- **primeRent**: $46/sqft/yr

## FAQ
### What is the average Class A rent in Philadelphia?
Around $38/sqft/yr across the broader Class A index. Trophy submarkets like Center City West command 20–40% above that.

### How many months of rent-free are normal in Philadelphia?
14 months on a 10-year deal is the standard benchmark. Lease-up product or tenants with strong covenant strength can push higher.

### Are rents rising or falling in Philadelphia?
The Philadelphia Class A market is currently flat. Vacancy is 21.6%, which sets the negotiating context.

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Citation: Source: Class A Atlas (https://classa.info/cities/philadelphia/rents-and-incentives), updated 2026-04-15T00:00:00.000Z.