Real Estate Prices and Overview
Median real estate prices in the City Center of Philadelphia are $288,310, which is more expensive than 89.6% of the neighborhoods
in Pennsylvania and 76.5% of the
neighborhoods in the U.S.
Average rental prices in Philadelphia City Center are currently
$1,099, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 83.7%
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
Many things matter about a neighborhood, but the first thing most people notice
is the way a neighborhood looks and its particular character. For example, one
might notice whether the buildings all date from a certain time period or whether
shop signs are in multiple languages. This particular neighborhood in Philadelphia,
the City Center neighborhood, has some outstanding things about the way it
looks and its way of life that are worth highlighting.
Notable & Unique: People
In a nation where 1 out of every 4 children lives in poverty, the Philadelphia
City Center neighborhood stands out as being ranked among
the lowest 0.1% of neighborhoods affected by this global
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
In the Philadelphia City Center neighborhood, walking to work is a real
option for many. In fact, NeighborhoodScout's exclusive research reveals
walking to and from work is the chosen way to commute for 43.5%
of residents here. This is a higher proportion of walking commuters than
we found in 99.4% of American neighborhoods. Get ready
to put on your walking shoes if you move here!
Also, more people ride the bus in this neighborhood each day to get to work
than 97.9% of U.S. neighborhoods.
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
Do you like to be surrounded by people from all over the country or world,
with different perspectives and life experiences? Or do you instead prefer
to be in a neighborhood where most residents have lived there for a long
time, creating a sense of cohesiveness? NeighborhoodScout's analysis
reveals that this neighborhood stands out among American neighborhoods
for the uniqueness of the mobility of its residents.
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
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 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
The old saying "you are what you eat" is true. But it is also true that you
are what you do for a living. The types of occupations your neighbors have
shape their character, and together as a group, their collective occupations
shape the culture of a place.
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 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 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.