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Real Estate Prices & Overview

Powelton / Drexel University median real estate price is $629,835, which is more expensive than 89.5% of the neighborhoods in Pennsylvania and 76.7% of the neighborhoods in the U.S.

The average rental price in Powelton / Drexel University is currently $2,288, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 79.3% of the neighborhoods in Pennsylvania.

Powelton / Drexel University is a densely urban neighborhood (based on population density) located in Philadelphia, Pennsylvania.

Powelton / Drexel University real estate 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 Powelton / Drexel University 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.

Powelton / Drexel University has a 13.7% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 74.8% 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.

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 Powelton / Drexel University neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

NeighborhoodScout's analysis shows that the Powelton / Drexel University neighborhood has a greater concentration of residents currently enrolled in college than 99.7% of the neighborhoods in the U.S. With 77.4% of the population here attending college, this is very much a college-focused neighborhood.

In addition, the Powelton / Drexel University neighborhood stands out within Pennsylvania for its college student friendly environment. NeighborhoodScout's analysis reveals that this neighborhood is home to a number of college students, is relatively walkable, and above average in safety. In combination, this makes it stand out for a good place for college students to consider. Because a number of college students live here, this neighborhood may be close to a college campus and offer certain amenities nearby geared towards the student body. While it's not an environment for everyone, ambitious scholars can enjoy seasonal excitement between semesters and school breaks, and parents can rest easy knowing that the area has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 6.1% of college-friendly places to live in PA.

Modes of Transportation

More people in Powelton / Drexel University choose to walk to work each day (39.7%) 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.

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 Powelton / Drexel University neighborhood have a highly unusual car ownership. 42.3% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.3% of U.S. neighborhoods.

Real Estate

Renter-occupied real estate is dominant in the Powelton / Drexel University neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 95.3%, which is higher than 98.1% 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.

In addition, the Powelton / Drexel University neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 37,911 persons per square mile in the neighborhood, it is more packed with people than 97.8% of the nation's neighborhoods. 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 Powelton / Drexel University neighborhood is among the top 5% of American neighborhoods in terms of walkability.

Migration / Stability

The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. In the Powelton / Drexel University neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 99.6% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.

Diversity

Did you know that the Powelton / Drexel University neighborhood has more Czechoslovakian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 0.5% of this neighborhood's residents have Czechoslovakian ancestry.

Powelton / Drexel University is also pretty special linguistically. Significantly, 4.1% of its residents five years old and above primarily speak Korean at home. While this may seem like a small percentage, it is higher than 98.5% of the neighborhoods in America.

The Neighbors

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 Powelton / Drexel University neighborhood in Philadelphia are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 92.2% of U.S. neighborhoods. With 51.3% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 94.5% of U.S. neighborhoods.

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 Powelton / Drexel University neighborhood, 40.6% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 36.8% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (14.5%), and 8.1% in manufacturing and laborer occupations.

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 Powelton / Drexel University neighborhood is English, spoken by 75.8% of households. Other important languages spoken here include Chinese, Langs. of India, Korean and Spanish.

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 Powelton / Drexel University neighborhood in Philadelphia, PA, residents most commonly identify their ethnicity or ancestry as Asian (18.2%). There are also a number of people of Irish ancestry (8.8%), and residents who report Italian roots (7.2%), and some of the residents are also of German ancestry (6.5%), along with some Sub-Saharan African ancestry residents (3.6%), among others. In addition, 12.5% of the residents of this neighborhood were born in another country.

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 Powelton / Drexel University neighborhood spend under 15 minutes commuting one-way to work (38.5% of working residents), one of the shortest commutes across America.

Here most residents (39.7%) hop out the door and walk to work to get to work. In addition, quite a number also drive alone in a private automobile to get to work (17.7%) and 7.3% of residents also take the train 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.


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