Median real estate price in the City Center of Philadelphia is $1,453,972, which is more expensive than 99.8% of the neighborhoods in Pennsylvania and 97.2% of the neighborhoods in the U.S.
The average rental price in Philadelphia City Center is currently $3,411, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 95.8% 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 townhomes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the City Center neighborhood are newer, built in 2000 or more recently. A number of residences were also built before 1940.
Philadelphia City Center has a 10.6% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 64.2% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.
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 get around.
People
Wealth makes most things in life easier, and a few things harder. If you are wealthy and enjoy keeping up with the Jones', this neighborhood will interest you. In fact, according to NeighborhoodScout's research, the Philadelphia City Center neighborhood is wealthier than 97.3% of the neighborhoods in the United States. Residents here are truly in a unique situation even when compared to other Americans, based on the sheer amount of wealth concentrated here. Even in times of economic downturn, residents of this neighborhood, as a group, suffered less and recovered more quickly. This is indeed a stand-out characteristic of this neighborhood. As one would expect in a considerably wealthy neighborhood such as this, Philadelphia City Center also has one of the lowest ratings of child poverty in the nation.
In addition, if you're a regular supporter of the arts and enjoy outings to the theatre, weekend boutique-ing, or even a finely aged wine with dinner, than you're in good company with the people of the Philadelphia City Center neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 98.3% of neighborhoods across the country. The people here truly stand out as a class among their own. They are an exclusive community characterized by refined tastes, cultural inclinations, and the means to live well. Urban sophisticates live a big city lifestyle, whether or not they live in or near a big city. They are educated executives or managers by week, and serial patrons of the arts by weekend. If this lifestyle pertains to you, than you'll certainly feel right at home in the Philadelphia City Center neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for highly educated executives and college students.
Also, the rate of college educated adults in the Philadelphia City Center neighborhood is a unique characteristic of the neighborhood. 81.2% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 34.3% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 98.2% of all U.S. neighborhoods.
Finally, the types of households in a neighborhood can tell a lot about the character and lifestyle of those living here. NeighborhoodScout's exclusive analysis reveals that this neighborhood, above nearly every neighborhood in America, has a greater percentage of its residents living alone: 55.7%. This is a higher percent living alone than we found in 97.9% of all U.S. neighborhoods. Often residents who live alone are new arrivals to an area who are single, and often senior citizens who have lost a spouse.
Modes of Transportation
A unique way of commuting is simply not to. And in the Philadelphia City Center neighborhood, analysis shows that 45.2% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 99.8% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.
Also, in the Philadelphia City Center neighborhood, 18.9% of people ride the train to work each day. This is a very high percentage compared to most places. In fact, NeighborhoodScout's analysis reveals that this is a higher level of train ridership than in 97.1% of the neighborhoods in America.
Real Estate
One of the really unique and interesting things about the look and setting of the Philadelphia City Center neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 96.3% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 99.2% of all neighborhoods in America.
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 89.1% 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, if you like crowded places, then you will probably enjoy the the Philadelphia City Center neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 95.2% of neighborhoods in the U.S., with 21,129 people per square mile living here. Being a walkable neighborhood can help increase property values for the simple reason that people enjoy it and value it. To put it plainly, despite our love affair with the automobile, American's enjoy taking to the streets, sidewalks, paths, and courtyards of a place to get a coffee, relax, and take in the sights and sounds. And, according to NeighborhoodScout's exclusive and first quantitative walkable score index, the Philadelphia City Center neighborhood is one of the most walkable neighborhoods in America.
Occupations
Executives, managers and professionals make up 76.2% of the workforce in the Philadelphia City Center neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 98.1% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
Car Ownership
American households most often have a car, and regularly they have two or three. But households in the Philadelphia City Center neighborhood buck this trend. 26.9% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 96.7% of U.S. neighborhoods.
Diversity
Did you know that the Philadelphia City Center neighborhood has more Eastern European and Finnish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 8.4% of this neighborhood's residents have Eastern European ancestry and 4.7% have Finnish ancestry.
Philadelphia City Center is also pretty special linguistically. Significantly, 3.7% of its residents five years old and above primarily speak Arabic at home. While this may seem like a small percentage, it is higher than 97.5% of the neighborhoods in America.
There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.
The neighbors in the City Center neighborhood in Philadelphia are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 97.3% 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 100.0% of America's neighborhoods.
A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.
In the Philadelphia City Center neighborhood, 76.2% 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 16.2% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (6.7%).
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 73.4% of households. Other important languages spoken here include Spanish, Chinese and Arabic.
Ethnicity / Ancestry
Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.
In the City Center neighborhood in Philadelphia, PA, residents most commonly identify their ethnicity or ancestry as English (13.2%). There are also a number of people of Dutch ancestry (9.4%), and residents who report Irish roots (8.9%), and some of the residents are also of Asian ancestry (8.6%), along with some Eastern European ancestry residents (8.4%), among others. In addition, 22.7% of the residents of this neighborhood were born in another country.
Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Philadelphia City Center neighborhood spend between 30 and 45 minutes commuting one-way to work (57.8% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (20.2%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (18.9%) and 9.3% of residents also hop out the door and walk to work for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
