Philadelphia More Than Doubled Office-to-Apartment Conversions Last Year

At the start of 2026, approximately 90,300 office-to-apartment conversions were in the pipeline nationwide, up 28% year-over-year, per RentCafe. 

Office conversions now account for nearly half (47%) of all future adaptive reuse projects nationwide, helping offset post-pandemic office vacancies (which were close to 20% early last year). Hotel and industrial conversions trail behind (18% and 16%, respectively).  

On the list of metro areas with the most future office-to-apartments, Philly ranks no. 7. As of the start of 2026, the City of Brotherly Love had 2,697 office-to-apartment conversions in the pipeline – a 119% increase YOY. 

Philly’s total number of adaptive reuse conversions in the pipeline, for all building types, was 5,906. Of those, office conversions accounted for 45%. 

“Philadelphia makes one of the biggest jumps in this year’s rankings after placing 18^th last year, as office-to-apartment conversions gain traction in a city known for its historic building stock,” RentCafe notes. “With many downtown offices designated as landmark properties, conversions are often supported by preservation-focused incentives that allow buildings to be reused without altering their historic character.” 

It’s estimated that Philly has about 52 million square feet of office space suitable for residential conversion.