Home Values

Philadelphia Metro Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$200,500

  • 0.8% 1-year change
  • 0.3% 1-year forecast

Market Temperature

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 metro relative to other metros across the US. A particular metro may be identified as a good market for buyers in a national market favorable to sellers overall. Learn more

Cold

Buyers' Market
Sellers' Market

The median home value in Philadelphia Metro is $200,500. Philadelphia Metro home values have gone up 0.8% over the past year and Zillow predicts they will rise 0.3% within the next year. The median list price per square foot in Philadelphia Metro is None. The median rent price in Philadelphia Metro is $1,400, which is higher than the Pennsylvania median of $1,250.

Foreclosures will be a factor impacting home values in the next several years. In Philadelphia Metro 4.1 homes are foreclosed (per 10,000). This is lower than the Pennsylvania value of 4.6 and also greater than the national value of 3.9

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 Metro is 10.2%, which is higher than the national value of 6.3%. 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 Metro homeowners underwater on their mortgage is 19.1%, which is higher than Pennsylvania at 16.7%.

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Relative ZHVI
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Philadelphia Metro Market Overview

Data through Apr 30, 2015
  • $200,500 ZHVI
  • 0.3% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Apr 30, 2016)
  • No data Median listing price
  • $209,215 Median sale price
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Philadelphia Metro Market Health

Data through Apr 30, 2015
  • 3.4/10 Less healthy
    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.
    (Feb 28, 2015)
  • 143 Average days on Zillow (Mar 31, 2015)
  • 19.1% Homes with negative equity (16.9% US Avg) (Dec 31, 2014)
  • 10.2% Delinquent on mortgage (6.3% US Avg) (Dec 31, 2014)

Homes foreclosed (per 10,000)

4.1 homes Philadelphia Metro
4.6 homes Pennsylvania
3.9 homes United States
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Cities in Philadelphia Metro

Name Median ZHVI
West Chester $348,600
Bensalem $213,300
Newark $197,400
Name Median ZHVI
Levittown $188,700
Gloucester $164,200
New Castle $147,800
Name Median ZHVI
Wilmington $117,300
Philadelphia $104,900
Camden $65,600

Listings & Sales

Data through Apr 30, 2015
  • No recent data Median list price / sq ft
  • $132 Median sale price / sq ft
  • No data Listings with price cut
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Philadelphia Metro Rentals

Data through Apr 30, 2015
  • Zillow Rent Index

  • $1,567 Philadelphia Metro
    $1,233 Pennsylvania
    $1,364 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 2.4 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Dec 31, 2014)
  • $1,400 Rent list price
  • $1.23 Rent list price / sq ft
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