Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 1,165 people, 400 houses or apartments, and a median cost of homes of $236,033, house prices in Philadelphia are solidly below the national average.
Single-family detached homes are the single most common housing type in Philadelphia, accounting for 35.32% of the village's housing units. Other types of housing that are prevalent in Philadelphia include duplexes, homes converted to apartments or other small apartment buildings ( 34.13%), large apartment complexes or high rise apartments ( 26.39%), and a few row houses and other attached homes ( 3.97%).
People in Philadelphia primarily live in small (one, two or no bedroom) single-family detached homes. Philadelphia has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Philadelphia built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Philadelphia built before 1939 ( 41.07%). A lesser amount of the housing stock also hails from between 1940-1969 ( 7.14%). There's also some housing in Philadelphia built between 2000 and later ( 1.98%).
Vacant housing appears to be an issue in Philadelphia. Fully 20.63% of the housing stock is classified as vacant. Left unchecked, vacant Philadelphia homes and apartments can be a drag on the real estate market, holding Philadelphia real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Some of the lowest real estate appreciation rates in America over the last ten years have been in Philadelphia, where house values have increased just 39.74%, which is annualized rate of 3.40%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Over the last year, Philadelphia appreciation rates have trailed the rest of the nation. In the last twelve months, Philadelphia's appreciation rate has been -6.18%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Philadelphia were at -12.99%, which equates to an annual appreciation rate of -42.67%.
Notably, Philadelphia's appreciation rate in the latest quarter is one of the lowest in America.
Relative to New York, our data show that Philadelphia's latest annual appreciation rate is lower than 90% of the other cities and towns in New York.
$236,033
for New york
for nation
400
$1,208 / per month