Philadelphia Home Prices & Values

$112,400 Zillow Home Value Index What's This?  
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The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

  • 4.6% 1-year change
  • 1.2% 1-year forecast

Market Temperature: ColdWhat's This?
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Based on three metrics—sale-to-list price ratio, the prevalence of price cuts on home listings, and time-on-market—the market temperature provides information on the current balance of bargaining power between buyers and sellers in this city relative to other cities in the same metropolitan area. A particular city may be identified as a good market for buyers in a metro market favorable to sellers overall. Learn more

Buyers' Market Sellers' Market

The median home value in Philadelphia is $112,400. Philadelphia home values have gone up 4.6% over the past year and Zillow predicts they will rise 1.2% within the next year. The median list price per square foot in Philadelphia is $115, which is lower than the Philadelphia Metro average of $132. The median price of homes currently listed in Philadelphia is $150,000 while the median price of homes that sold is $152,975. The median rent price in Philadelphia is $1,395, which is lower than the Philadelphia Metro median of $1,400.

Foreclosures will be a factor impacting home values in the next several years. In Philadelphia 8.2 homes are foreclosed (per 10,000). This is greater than the Philadelphia Metro value of 3.5 and also greater than the national value of 4.4

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Philadelphia is 9.3%, which is higher than the national value of 6.9%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Philadelphia homeowners underwater on their mortgage is 26.2%, which is higher than Philadelphia Metro at 20.1%.

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Relative ZHVI
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Philadelphia Market Overview

Data through Jul 31, 2014
  • $112,400 ZHVI
  • 1.2% 1-yr forecast What's This?  
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    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more

    (Jul 31, 2015)
  • $150,000 Median listing price
  • $152,975 Median sale price
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Philadelphia Market Health

Data through Jul 31, 2014
  • 1.9/10 Less healthy What's This?  
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    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.

  • No data Average days on Zillow
  • 26.2% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 9.3% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)

Homes foreclosed (per 10,000)

8.2 homes Philadelphia
3.5 homes Philadelphia Metro
4.4 homes United States
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Neighborhoods in Philadelphia

Name Median ZHVI Name Median ZHVI Name Median ZHVI
Logan-Fern Rock $75,900 Olney $75,500 Juniata Park-Feltonville $69,400
West Kensington $63,200 Tioga-Nicetown $48,500 Hartranft $48,500
Hunting Park $45,100 Harrowgate $42,800 Fairhill $42,000

Listings & Sales

Data through Jul 31, 2014
  • $115 Median list price / sq ft
  • $119 Median sale price / sq ft
  • 44.0% Listings with price cut
16.5%
Sold below listing
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Philadelphia Rentals

Data through Jul 31, 2014
Zillow Rent Index What's This?
Close The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more
$1,148 Philadelphia
$1,543 Philadelphia Metro
$1,318 United States
  • 3.0 Breakeven horizon What's This?  
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    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more

    (Jun 30, 2013)
  • $1,395 Rent list price
  • $1.31 Rent list price / sq ft
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