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What General Real Estate Data Can I Learn About Philadelphia?

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The total number of housing units in the city of Philadelphia is 315,393, with an average price of $180,000, according to June 2005 article in Money Magazine. The median rental price is $389. Of the total number of housing units in Philadelphia, 53 percent are occupied by owners and 36 percent are rental units. This leaves 11 percent of the total number housing units which are vacant. While the average price for a home in all of Philadelphia falls slightly below the national average of $190,000, prices in the most popular areas of Philadelphia are well above this average. For example, the average price for a home in the Center City area is $400,000 according to aroundphilly.org.

A great majority of housing units within the city limits of Philadelphia are either row houses or town houses. Make sure you check about the parking arrangements when you are seeking a house in some of the more popular areas of downtown Philly, as garages are often not park of structure of the home.

The median age of Philadelphia residents is 29, while the national median age of citizens is 36. Philadelphia is definitely popular for young urban professionals and young families. The median family income within the city limits is $27,196 and within Philadelphia County is $41,250. The national median family income is $40,591.
Because Philadelphia is 90 miles from New York City and 120 miles from Washington, D.C., it is becoming increasingly popular to live here and commute to these areas for work and play.

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