Explore Philadelphia
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Why Live in Philadelphia
Philadelphia's rich history comes alive through iconic landmarks like Independence Hall, where the Declaration of Independence and U.S. Constitution were signed, and the Liberty Bell Center, a symbol of American independence. The city features extensive cultural attractions including the Philadelphia Museum of Art with its famous "Rocky Steps" and the Eastern State Penitentiary, an abandoned prison turned museum. Outdoor spaces include Fairmount Park, one of the largest urban parks in America, and Spruce Street Harbor Park where visitors relax in waterfront hammocks. The dining scene features acclaimed restaurants like Zahav, known for Israeli cuisine, and Vernick Food & Drink, serving seasonal American dishes in Rittenhouse Square.
The real estate landscape varies by neighborhood. Townhouses represent a significant portion of inventory in Fishtown, East Passyunk, and Queen Village, with median prices ranging from $388,000 in East Passyunk to $586,000 in Queen Village. Rittenhouse Square, Old City, and Society Hill feature many condos, with one bedroom median prices from $290,000 in Old City to $318,800 in Society Hill. Two bedroom condos command median prices up to $767,500 in Rittenhouse Square. Single family homes in Chestnut Hill have a median price of $975,000.
Philadelphia's cost of living measures 3.9% above the national average. A family with school age children needs approximately $110,000 annually to live comfortably, while renters should aim for $64,000. The property tax rate of 0.84% compares favorably to nearby Camden, New Jersey at 3.08%. The Pennsylvania state income tax rate stands at 3.07%. Public transportation via SEPTA includes buses, trolleys, and subway lines. Top rated public schools include Julia R. Masterman Laboratory and Demonstration School and Central High School. Major universities include the University of Pennsylvania, Temple University, and Drexel University.
Home Prices in Philadelphia, PA
The median home sale price in Philadelphia, PA is $280,000, up 4% year-over-year. Homes in Philadelphia sell in 53 days on average, compared to the national average of 58 days.
Home Price Trends
|
Median Sale Price
$280,000
|
Median Single Family Sale Price
$375,000
|
|
Median Townhouse Sale Price
$245,000
|
Median 2 Bedroom Sale Price
$277,500
|
|
Median 1 Bedroom Sale Price
$275,000
|
Average Price Per Sq Ft
$235
|
|
Number of Homes for Sale
4,667
|
Last 12 months Home Sales
13,407
|
|
Months of Supply
4.20
|
Median List Price
$279,999
|
|
Median Change From 1st List Price
0%
|
Median Home Sale Price YoY Change
4%
|
Popular Home Searches in Philadelphia, PA
Homebuyers in Philadelphia often look for historic charm, smart layouts, and outdoor space in both rowhomes and newer builds.
- Love character-filled homes? Explore Victorian homes or colonial style properties in neighborhoods like Society Hill or Germantown.
- Want some fresh air? Check out listings with a rooftop deck or patio, especially in South Philly or Fishtown.
- Prefer urban convenience? Browse condos or lofts in Center City and Old City for low-maintenance living.
- Need functional upgrades? Look for homes with in-unit laundry or kitchen islands to simplify daily life.
- Looking for something newer? Consider new construction options or modern homes in Brewerytown, Northern Liberties, or Point Breeze.
Philadelphia Types of Homes for Sale
Philadelphia Real Estate Listings
More About Living in Philadelphia
Popular Searches in Philadelphia
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