Renters in Fitler Square paid an average of $2.41 per square foot last month. That makes it the most expensive neighborhood in the city for renters that month, according to real estate data analytics startup Kwelia.
Compare that to East Passyunk, where renters pay $1.20 per square foot, and Fairmount, where renters pay $1.48 per square foot.
A three-person team based out of Rittenhouse Square coworking space Benjamin’s Desk, Kwelia analyzes data to give landlords and consumers a lay of the land, in terms of rental prices. Its first product is software that allows landlords to see prices of comparable properties so they can price their rental units competitively. The company is currently piloting the tool, said cofounder John Njoku.
DreamIt Ventures brought Kwelia to Philadelphia in the fall of 2011 and, after a six month stint in Chile with another accelerator, the company returned to the city. Because of the startup’s heavy data analytics focus, Philly’s many universities were a big draw, Njoku said.
An Akron, Ohio native, Njoku got his masters in real estate development at Columbia and his law degree from Stanford. The 31-year-old lives in Graduate Hospital.