Philadelphia

Overview for Philadelphia, PA

1,596,860 people live in Philadelphia, where the median age is 34.8 and the average individual income is $32,344. Data provided by the U.S. Census Bureau.

1,596,860

Total Population

34.8 years

Median Age

High

Population Density Population Density This is the number of people per square mile in a neighborhood.

$32,344

Average individual Income

Things to Do

Philadelphia is a city brimming with activities for every interest. For art lovers, the Philadelphia Museum of Art and The Barnes Foundation offer a world-class experience. The city's rich music scene caters to various genres, hosting performances in venues like the Kimmel Center for the Performing Arts. Outdoor enthusiasts can explore Fairmount Park, one of the country's largest urban park systems, offering trails, water activities, and scenic views. Philadelphia is also home to the Main Line, which consists of many towns to visit. Find out where the Main Line is located

Historical Landmarks

The city is steeped in American history. Independence Hall and the Liberty Bell are iconic symbols of America's struggle for independence. These sites, along with others like the Betsy Ross House and the Benjamin Franklin Museum, offer a glimpse into the nation's founding era. Walking the historic streets of Old City, you can feel the rich past that has shaped the present.

Restaurants

Philadelphia's culinary scene extends beyond its famous cheesesteaks. The city boasts a diverse array of dining options, from upscale eateries to cozy neighborhood bistros. Reading Terminal Market is a foodie's delight, offering a variety of local and international foods in a lively market setting. For a more refined dining experience, the city has numerous high-end restaurants that showcase both local and international cuisines.

Real Estate Market Overview

  • Home Values: The average home value in the Philadelphia-Camden-Wilmington area was recorded at $341,744, marking a 6.4% increase over the previous year. This indicates a healthy appreciation in property values.
  • Sales Dynamics: Properties in this market are moving quickly, with homes reaching a pending status within an average of just 14 days. This rapid movement is a sign of a robust market.
  • Market Forecast: A positive growth trajectory is forecasted for the market, with an expected increase of 3.1% in the coming year.
  • Inventory and Listings: The market had about 12,200 homes for sale with 4,082 new listings as of the end of 2023.
  • Pricing Trends: The median sale price was $320,667, with a median list price slightly lower at $314,667, indicating a strong seller's market.
  • Sales Performance: About 45.3% of homes sold over their listing price, suggesting a competitive market environment.

Investment Perspective

  • Density and Development: Philadelphia's density provides opportunities for redevelopment or subdivision due to the lack of expansion space.
  • Affordability: Compared to other major cities, Philadelphia's real estate market is relatively affordable, offering a range of properties at reasonable prices.
  • Neighborhood Diversity: The city's diverse neighborhoods each offer unique investment potentials.

Market Optimism for 2024

  • Attractiveness to Buyers: The Philadelphia area is expected to see a boost in market activity due to its relative affordability, the potential drop in mortgage interest rates, and the availability of properties affordable to first-time homebuyers.
  • Long-Term Homeowners: A significant portion of homeowners have lived in their properties for longer than the average period, indicating a stable residential base. This stability, coupled with the region's attractiveness, points to the potential for market growth.
  • Regional Strengths: The Philadelphia area's position between New York and Washington, along with its walkable communities and job opportunities, contributes to its appeal.
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Demographics and Employment Data for Philadelphia, PA

Philadelphia has 646,608 households, with an average household size of 2.4. Data provided by the U.S. Census Bureau. Here’s what the people living in Philadelphia do for work — and how long it takes them to get there. Data provided by the U.S. Census Bureau. 1,596,860 people call Philadelphia home. The population density is 11,885.29 and the largest age group is Data provided by the U.S. Census Bureau.

1,596,860

Total Population

High

Population Density Population Density This is the number of people per square mile in a neighborhood.

34.8

Median Age

47.57 / 52.43%

Men vs Women

Population by Age Group

0-9:

0-9 Years

10-17:

10-17 Years

18-24:

18-24 Years

25-64:

25-64 Years

65-74:

65-74 Years

75+:

75+ Years

Education Level

  • Less Than 9th Grade
  • High School Degree
  • Associate Degree
  • Bachelor Degree
  • Graduate Degree
646,608

Total Households

2.4

Average Household Size

$32,344

Average individual Income

Households with Children

With Children:

Without Children:

Marital Status

Married
Single
Divorced
Separated

Blue vs White Collar Workers

Blue Collar:

White Collar:

Commute Time

0 to 14 Minutes
15 to 29 Minutes
30 to 59 Minutes
60+ Minutes

Schools in Philadelphia, PA

All ()
Primary Schools ()
Middle Schools ()
High Schools ()
Mixed Schools ()
The following schools are within or nearby Philadelphia. The rating and statistics can serve as a starting point to make baseline comparisons on the right schools for your family. Data provided by the U.S. Census Bureau.
Type
Name
Category
Grades
School rating

Around Philadelphia, PA

There's plenty to do around Philadelphia, including shopping, dining, nightlife, parks, and more. Data provided by Walk Score and Yelp.

54
Somewhat Walkable
Walking Score
44
Somewhat Bikeable
Bike Score
58
Good Transit
Transit Score

Points of Interest

Explore popular things to do in the area, including Elma, Baby’s Kusina + Market, and Jopok Topokki.

Name Category Distance Reviews
Ratings by Yelp
Dining 2.56 miles 8 reviews 5/5 stars
Dining 3.46 miles 5 reviews 5/5 stars
Dining 2.69 miles 5 reviews 5/5 stars
Dining 1.82 miles 7 reviews 5/5 stars
Dining 2.38 miles 5 reviews 5/5 stars
Active 4.74 miles 5 reviews 5/5 stars

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