Philadelphia

Philadelphia is not only one of the largest cities in the US, but also one of the most popular choices to have a home. It is the sixth most populous city in the States and the most populated in Pennsylvania. Philadelphia continues to be a hub for all sections of population, and its real estate has seen major development over the years.

About the city

• Philadelphia was founded in 1682 and played a major role in the American Revolution.
• It is a major hub for education and employment.
• The city has a humid subtropical climate. Rains occur throughout the year and the minimum temperature can go up to -0.6 degrees Celsius. The maximum temperature recorded is 41 degrees Celsius.
• Philadelphia is a melting pot of cultures with people from various nationalities including Indian, Mexican, Chinese, German, Irish, English and Japanese.
• A majority of the Philadelphian population is employed in health services, information technology, financial services and manufacturing sectors.
• Tourism is a major industry and the city attracts millions of visitors every year.
• The education system is quite developed in Philadelphia. Apart from innumerable public and private primary educational institutions, there are also ample opportunities for higher education. There are over 80 colleges and universities in the city.

Architecture in Philadelphia

The city of Philadelphia has a rich history and heritage. The same is reflected in its architecture too. But with time, it has also introduced modern building styles in its landscape. The first international skyscraper of the United States was built in Philadelphia. The city also had the first row houses in the country, which were formed in the 17th century.

Much of the residential architecture here is influenced by the European style. When it comes to apartments with well-laid gardens and lawns, Philadelphia was one of the first cities in the States to have them. Thus, Philadelphia introduced much of the modern architecture in the country.

Real Estate in Philadelphia

Neighborhoods

Some of the most preferred neighborhoods for residential purposes in Philly include Pennypack Park, Chestnut Hill, Washington Square West, Center City, Whitman, Point Breeze, Fish town and Old City. These are also some of the safest places to choose your home in. Point Breeze has one of the lowest rental rates and a cozy ambience to live in.

PHA

A chunk of the real estate in Philly is taken care of by the Philadelphia Housing Authority or PHA. PHA is responsible for providing “decent and safe rental housing for eligible low-income families, elderly and persons with disabilities”.

Renters

Several of the millennial and baby boomers are renters in Philly rather than buyers. Plenty of row houses in the city offer attractive rental rates, and so does newer high-rise apartments.

The Changing Trends

Recent years saw a lot many new residential constructions come to life in the city of Philadelphia. Several suburban areas have also come up with big construction projects albeit at lower prices per square unit. Areas like King of Prussia, Bala Cynwyd and Camden are popular Philadelphia suburbs to opt for a residence. Shopping malls continue to expand, and shared workspaces are a thing nowadays.

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