Philadelphia, PA

Why Philadelphia?

Philadelphia is the largest city in the Commonwealth of Pennsylvania and the fifth-most populous city in the United States, with an estimated population of 1,567,442 and more than 6 million in the seventh-largest metropolitan statistical area, as of 2015. Philadelphia is the economic and cultural anchor of the Delaware Valley—a region located in the Northeastern United States at the confluence of the Delaware and Schuylkill rivers with 7.2 million people residing in the eighth-largest combined statistical area in the United States.

The area’s many universities and colleges make Philadelphia a top international study destination, as the city has evolved into an educational and economic hub. With a gross domestic product of $388 billion, Philadelphia ranks ninth among world cities and fourth in the nation. Philadelphia is the center of economic activity in Pennsylvania and is home to seven Fortune 1000 companies. The Philadelphia skyline is growing, with a market of almost 81,900 commercial properties in 2016 including several nationally prominent skyscrapers. The city is known for its arts, culture, and history, attracting over 39 million domestic tourists in 2013. Philadelphia has more outdoor sculptures and murals than any other American city.

The 67 National Historic Landmarks in the city helped account for the $10 billion generated by tourism. Philadelphia is the birthplace of the United States Marine Corps, and is also the home of many U.S. firsts, including the first library (1731), first hospital (1751) and medical school (1765), first Capitol (1777), first stock exchange (1790), first zoo (1874), and first business school (1881). Philadelphia is the only World Heritage City in the United States.

 

Fast Facts

  • 2nd largest city on the East Coast
  • 8th largest regional economy in the world
  • First and only World heritage city in the United States
  • Prime location between New York and Washington, D.C.
  • Located in the middle of the US Northeast megaregion with over 46 million people within a 200-mile radius.
  • Increased its population by 8% from 1999 to 2010
  • Increased its population by 1.6% from 2011 to 2015
  • Home appreciation of more than 121% from 2000 to 2010
  • Home prices increased 10% in 2016
  • Market rents increased 10% over the last 4 Years
  • New Yorker’s are fleeing the NYC Metro for the low cost of living (while still living in a city)
  • Running an ambitious development plan from 2010-2035 that will boost our local economy and housing market
  • Strong job market, over 33,000 new jobs created in 2013
  • Unemployment rate is 5.9% 
  • Residential rental vacancy is 2.7%
  • Medium sales price is up 8.8% from 3rd quarter 2014
  • Low cost of living
  • One of the most historical cities in America, with 4 million visitors per year
  • Modern public transportation system
  • Local government workforce of over 31,000 employees
  • One of the Nation’s largest medical and pharmaceutical industries, including Dupont, GlaxoSmithKline, and Merck.
  • Major shipping port and import/export industry hub
  • Home to 92 colleges and universities

Metro Profile

7th

MSA Population Ranking: 6,069,875
stats from en.wikipedia.org

$47,528

Median Household Income
stats from en.wikipedia.org

3.79%

Average Annual Appreciation Rate
stats from www.neighborhoodscout.com

Properties in Philadelphia

Find Us

18765 SW Boones Ferry Rd.
Suite 325
Tualatin OR 97062

P: 503-217-2444
T: 855-290-2444
F: 503-655-3318
E: invest@northpeakinvest.com

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