Real Estate Prices and Overview
Median real estate prices in the City Center of Philadelphia are $437,573, which is more expensive than 97.8% of the neighborhoods
in Pennsylvania and 89.8% of the
neighborhoods in the U.S.
Average rental prices in Philadelphia City Center are currently
$1,055, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 89.6%
of the neighborhoods in Pennsylvania.
Philadelphia City Center is a densely urban neighborhood (based on population
density) located in Philadelphia, Pennsylvania.
Real estate in the City Center of Philadelphia, PA is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and small apartment buildings.
Most of the residential real estate is renter occupied. Many of
the residences in the City Center neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 2000 and the present.
Philadelphia City Center has a 14.9% vacancy rate, which is
well above average compared to other U.S. neighborhoods (higher than
73.2% of American neighborhoods). This could either
signal that there is weak demand for real estate in the neighborhood,
or that much of the housing stock is seasonally occupied,
which can occur in some markets dominated by colleges or vacation homes.
Either way, if you live here year round, you will find many of the homes
or apartments are empty for all or a portion of the year.
Notable & Unique Neighborhood Characteristics
The way a neighborhood looks and feels when you walk or drive around it, from
its setting, its buildings, and its flavor, can make all the difference. This
neighborhood has some really cool things about the way it looks and feels as
revealed by NeighborhoodScout's exclusive research. This might include anything
from the housing stock to the types of households living here to how people
Notable & Unique: People
Of note is NeighborhoodScout's research finding that the Philadelphia
City Center neighborhood has some of the lowest rates of children
living in poverty of any neighborhood in the United States. In a nation
where approximately 1 in 4 children are living in poverty, the Philadelphia
City Center community truly stands out from the rest in this regard.
In addition, an interesting characteristic about the Philadelphia City Center neighborhood
is that there are more incarcerated people living here than 99.5%
of neighborhoods in the U.S. The United States has the highest rate of
incarceration in the world, currently with 1 out of every 100 adults in the
country are incarcerated as a punishment for crimes committed. The extremely
high incarceration rate of this neighborhood could mean that a prison, juvenile
detention facility or other correctional facility occupies a large proportion
of the neighborhood, or contains a large portion of the neighborhood's population.
Notable & Unique: Modes of Transportation
More people in Philadelphia City Center choose to walk to work each day
(43.5%) than almost any neighborhood in America. If you are
attracted to the idea of being able to walk to work, this neighborhood
could be a good choice.
Also, our research revealed that more commuters here take the bus to work
(23.7% ride the bus) than 97.9% of all American
neighborhoods. If you like the idea of leaving your car and home and
hopping the bus to work, this might be a good neighborhood for you to
Notable & Unique: Car Ownership
Most American households own a car or other vehicle. Many own two cars
or perhaps three. In the United States, it is useful to have an automobile
not only for commuting, but also for shopping and getting to other services
one needs. But NeighborhoodScout's analysis revealed that households in
the Philadelphia City Center neighborhood have a highly unusual car ownership.
62.7% of the households in this neighborhood don't own a car at
all. This is more carless households than NeighborhoodScout found in
99.2% of U.S. neighborhoods.
Notable & Unique: Diversity
Did you know that the Philadelphia City Center neighborhood has more
Lebanese and Eastern European ancestry people living in it than nearly
any neighborhood in America? It's true! In fact, 1.1% of
this neighborhood's residents have Lebanese ancestry and 1.0% have Eastern European ancestry.
Philadelphia City Center is also pretty special linguistically. Significantly, 12.2% of its residents five years old and above primarily
speak Chinese at home. While this may seem like a small percentage, it is higher
than 98.7% of the neighborhoods in America.
Notable & Unique: Migration/Stability
Some neighborhoods have more internal cohesiveness than others. While other
neighborhoods feel like a collection of strangers who just happen to live
near each other. Sometimes this comes down to not only the personalities
of the people in a place, but how long people have been together in that
neighborhood. NeighborhoodScout's research has revealed some interesting
things about the rootedness of people in the Philadelphia City Center
In the Philadelphia City Center neighborhood, a greater proportion of
the residents living here today did not live here five years ago than is
found in 97.3% of U.S. Neighborhoods. This neighborhood,
more than almost any other in America, has new residents from other areas.
Notable & Unique: Real Estate
Even if you drive or take transit to your place of employment, many
people enjoy being able to walk in their neighborhood. What many people
don't realize is that most of America's premier vacation locations are
also very walkable. The Philadelphia City Center neighborhood is among
the top 5% of American neighborhoods in terms of walkability.
In addition, the Philadelphia City Center neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 96.9% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.
Furthermore, the real estate in the Philadelphia City Center neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 89.9% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 98.6% of American neighborhoods.
Also of note, renter-occupied real estate is dominant in the Philadelphia City Center neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 94.2%, which is higher than 98.0% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so.
Finally, do you watch 'This Old House' on Public Television? Do you love the idea of fixing up a Colonial or Victorian era home, complete with the charm of yesteryear? Do you like to stroll or drive streets lined with gracious older residences? If you found yourself nodding yes to any of these questions, you are going to be interested in this unique neighborhood. The Philadelphia City Center neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 63.2% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 96.2% of the neighborhoods in the United States.
The Neighbors: Income
How wealthy a neighborhood is, from very wealthy, to middle income, to low
income is very formative with regard to the personality and character of a
neighborhood. Equally important is the rate of people, particularly children,
who live below the federal poverty line. In some wealthy gated communities,
the areas immediately surrounding can have high rates of childhood poverty,
which indicates other social issues. NeighborhoodScout's analysis reveals
both aspects of income and poverty for this neighborhood.
The neighbors in the City Center neighborhood in Philadelphia are middle-income, making it a moderate income neighborhood.
NeighborhoodScout's exclusive analysis reveals that this neighborhood has
a higher income than 42.6% of the neighborhoods in America.
In addition, 0.0% of the children seventeen and under
living in this neighborhood are living below the federal poverty line, which
is a lower rate of childhood poverty than is found in 99.9%
of America's neighborhoods.
The Neighbors: Occupations
What we choose to do for a living reflects who we are. Each neighborhood has
a different mix of occupations represented, and together these tell you about
the neighborhood and help you understand if this neighborhood may fit your lifestyle.
In the Philadelphia City Center neighborhood, 61.4%
of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is
clerical, assistant, and tech support occupations, with 17.3% of the residents employed.
Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants
(16.0%), and 5.3% in manufacturing and laborer occupations.
The Neighbors: Ethnicity / Ancestry
Culture is the shared learned behavior of peoples. Undeniably, different ethnicities
and ancestries have different cultural traditions, and as a result, neighborhoods
with concentrations of residents of one or another ethnicities or ancestries
will express those cultures. It is what makes the North End in Boston so fun
to visit for the Italian restaurants, bakeries, culture, and charm, and similarly,
why people enjoy visiting Chinatown in San Francisco.
In the City Center neighborhood in Philadelphia, PA, residents
most commonly identify their ethnicity or ancestry as Asian
(14.6%). There are also a number of people of German ancestry (10.2%) , and residents who report Puerto Rican roots (6.2%) , and some of the residents are also of Irish ancestry (4.8%) , along with some Mexican ancestry residents (3.7%), among others. In addition, 25.8% of the residents of this neighborhood were born in another country.
The Neighbors: Languages
The languages spoken by people in this neighborhood are diverse. These are
tabulated as the languages people preferentially speak when they are
at home with their families.
The most common language spoken in the Philadelphia City Center
neighborhood is English, spoken by 58.9% of households. Other important languages spoken here include Spanish, Chinese and South Asian languages.
Getting to Work
How you get to work – car, bus, train or other means – and how much of your
day it takes to do so is a large quality of life and financial issue. Especially
with gasoline prices rising and expected to continue doing so, the length and
means of one's commute can be a financial burden. Some neighborhoods are physically
located so that many residents have to drive in their own car, others are set
up so many walk to work, or can take a train, bus, or bike.
The greatest number of commuters in Philadelphia City Center neighborhood spend
under 15 minutes commuting one-way to work (34.4% of working
residents), one of the shortest commutes across America.
Here most residents (43.5%) hop out the door and walk to work to get to work.
In addition, quite a number also ride the bus to get to work (23.7%) and 16.4% of residents also drive alone in a private automobile for their daily commute. This is a special neighborhood for the number of people who walk to work.
Combining exercise, low cost, and reduced pollution, plus the chance to
see your neighbors, walking to work is fairly uncommon in America but likely
to increase as people try to reduce their dependence on automobiles, and
this neighborhood offers that opportunity today.