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Real Estate Prices & Overview

Society Hill median real estate price is $786,248, which is more expensive than 96.2% of the neighborhoods in Pennsylvania and 86.3% of the neighborhoods in the U.S.

The average rental price in Society Hill is currently $3,169, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 93.9% of the neighborhoods in Pennsylvania.

Society Hill is a densely urban neighborhood (based on population density) located in Philadelphia, Pennsylvania.

Society Hill 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 townhomes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Society Hill neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

Vacant apartments or homes are a major fact of life in Society Hill. The current real estate vacancy rate here is 17.7%. This is higher than the rate of vacancies in 82.3% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually 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 Society Hill neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

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 Society Hill neighborhood is wealthier than 97.6% 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, Society Hill also has one of the lowest ratings of child poverty in the nation.

In addition, think about the people you know personally. How many of them would purchase box seats to opening night at the symphony? How many of them regularly attend gallery openings, or are the first to reserve tickets to opening night at the ballet? If they're like most of us, they don't do any of these things. But if you're among an exclusive crowd of wealthy and refined patrons of the arts, then you'll feel right at home in the Society Hill neighborhood: a neighborhood in which more "urban sophisticates" live than 99.8% of neighborhoods across the U.S. Here, your neighbors are defined as having urbane tastes in literature, music, live theatre and the arts. They are wealthy, educated, travel in style, and live a big city lifestyle whether or not they live in or near a big city. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for highly educated executives.

Also, do you like to read, write, and learn? Are you curious about the world? If so, this neighborhood may be a good fit for you. NeighborhoodScout's research revealed that a full 88.2% of the adults living in the Society Hill neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 99.5% of U.S. neighborhoods. In this way, this neighborhood truly stands out.

Finally, of particular note, 5.3% of the people in the Society Hill neighborhood currently reside in a correction facility, held due to punishment for a crime.

Occupations

Executives, managers and professionals make up 82.9% of the workforce in the Society Hill neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 99.6% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.

Modes of Transportation

More people in Society Hill choose to walk to work each day (21.4%) 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.

Real Estate

Many people dream of living along a street lined with row houses or other attached homes. Such places do often have an abundance of charm. If you are one of these people, the Society Hill neighborhood could be your paradise. With 31.5% of the homes and real estate here classified as rowhouses or other attached homes, this neighborhood brims with opportunity to find the right place for you. Only 3.0% of U.S. neighborhoods have more row houses than this neighborhood, making it one of the most interesting things about this special neighborhood.

In addition, if you like crowded places, then you will probably enjoy the the Society Hill neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 96.2% of neighborhoods in the U.S., with 25,540 people per square mile living here. 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 Society Hill neighborhood is among the top 5% of American neighborhoods in terms of walkability.

Car Ownership

American households most often have a car, and regularly they have two or three. But households in the Society Hill neighborhood buck this trend. 19.1% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 95.0% of U.S. neighborhoods.

Diversity

Did you know that the Society Hill neighborhood has more Romanian and Russian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.8% of this neighborhood's residents have Romanian ancestry and 5.6% have Russian ancestry.

The Neighbors

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 Society Hill 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 97.6% 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 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 Society Hill neighborhood, 82.9% 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 11.7% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (4.5%).

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 Society Hill neighborhood is English, spoken by 86.1% of households. Other important languages spoken here include Chinese 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 Society Hill neighborhood in Philadelphia, PA, residents most commonly identify their ethnicity or ancestry as Irish (20.9%). There are also a number of people of German ancestry (13.8%), and residents who report Italian roots (13.3%), and some of the residents are also of Asian ancestry (9.0%), along with some Polish ancestry residents (8.5%), among others. In addition, 17.6% 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 Society Hill neighborhood spend between 15 and 30 minutes commuting one-way to work (42.7% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (26.2%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (21.4%) and 10.4% of residents also take the train 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.


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