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Philadelphia

Learn about the people, housing, costs and businesses in Philadelphia, Pennsylvania

Median Home$295,145
Median Rent$1,436/month
Population1,579,706
Leading IndustriesPublic Administration · Arts, Food & Hospitality · Healthcare33% public administration
Home Value Growth+6.5% over 2 years
Young Adults37% of residentstop 4% nationally
Homeowners52% of occupied units
NotableAmenity Score79/100 · highly walkable area
NotableTransit84/100 · excellent transit access
Philadelphia
PA

Frequently Asked Questions

What are today's mortgage rates in Philadelphia?

As of today, the 30-year fixed mortgage rate for Philadelphia is approximately 6.897% (6.910% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Philadelphia?

The median home value in Philadelphia is $295k. The median monthly rent is $1,436. Annual property taxes average $3k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Philadelphia?

Home values in Philadelphia have increased 6.5% over the past two years. This represents moderate growth. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Philadelphia?

Based on a typical all-in ownership cost of $1,350/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $58k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Philadelphia is $69k/year.

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What industries drive the economy in Philadelphia?

The largest employment sectors in Philadelphia are public administration (33%) and healthcare (13%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.