There are currently 505,044 real estate properties in Philadelphia, PA, with a median automated valuation model (AVM) price of $234,800.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Philadelphia, PA, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Philadelphia, PA, is $282,282.00, with the most expensive house in Philadelphia, PA, topping out at $58,471,800.00 and the cheapest home in Philadelphia, PA, clocking in at $13,900.00. In other words, there’s something for every potential homebuyer or savvy investor in Philadelphia, PA!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Philadelphia, PA, is on a rollercoaster ride. The average rent price in Philadelphia, PA, is $1,355.00. Indeed, when looking to rent in Philadelphia, PA, you can expect to pay as little as $550.00 or as much as $4,960.00, with the average rent median estimated to be $1,260.00. The good news is that finding an affordable and desirable property to rent in Philadelphia, PA -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Find the best foreclosure homes listings for sale — bank-owned, government (Fannie Mae, Freddie Mac, HUD, etc.) and others — in and near the Philadelphia, PA area at Foreclosure.com. Get information on foreclosure homes for rent, how to buy foreclosures in Philadelphia, PA and much more. Save thousands at closing with home foreclosure listings in Philadelphia, PA — up to 75% off market value!
Philadelphia is located in Philadelphia, Pennsylvania, with an estimated municipal population of 1,584,064 residents. All of the best foreclosed homes for sale in Philadelphia are located in the following zip code areas on Foreclosure.com: 19154 19151 19150 19153 19152 19102 19103 19106 19107 19104 19109 19128 19129 19120 19121 19122 19123 19124 19125 19126 19127 19112 19111 19115 19114 19116 19119 19118 19148 19149 19146 19147 19144 19145 19142 19143 19140 19141 19139 19138 19137 19136 19135 19134 19133 19132 19131 19130 19019 19092 19093 19099 19101 19105 19108 19110 19155 19160 19161 19162 19170 19171 19172 19173 19175 19176 19177 19178 19179 19181 19182 19183 19184 19185 19187 19188 19190 19191 19192 19193 19194 19195 19196 19197 19244 19255. The estimated population per square kilometer (.62 miles) in Philadelphia is 4,554.
So, about how much do homes cost in Philadelphia? The most recent median value of resident-owned homes in Philadelphia is 160,287. An estimated 53 percent of households in Philadelphia own their homes, with an average family size of 3.46. The median household income in Philadelphia is 45,927, with20.4 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Philadelphia, the median commute time of resident workers (in minutes) is 33.6. And last, but certainly not least, are you looking for homes to rent in Philadelphia? If so, the average rent price paid by renters in Philadelphia is 1,042, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Philadelphia, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Philadelphia is 34.4, split between 47.3 percent male versus 52.7 female. The percentage of residents who report being married in Philadelphia is 30.6, with an average family size of 3.46.
The percentage of residents who report their race in Philadelphia is as follows:
|Black / African American||42.1%|
|American Indian / Alaskan Native||0.4%|
|Native Hawaiian / Other Pacifc Islander||0%|
Looking for family-friendly neighborhoods in and/or near Philadelphia? Or maybe you are searching for 55+ active adult communities in and/or near Philadelphia?
The percentage of residents who report their age in Philadelphia is as follows:
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Philadelphia with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Philadelphia.
How do you know that living in -- or moving to -- Philadelphia is right where you need to be? Perhaps you grew up in Philadelphia or already live nearby; therefore, the decision to buy a home in Philadelphia is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Philadelphia for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Philadelphia:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Philadelphia.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Philadelphia can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Philadelphia, meanwhile, can field multiple offers from more qualified buyers.
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