4:02 PM / Wednesday November 29, 2023

12 Jul 2014

Homeownership in Philadelphia: On the Decline

  • Facebook
  • Twitter
July 12, 2014 Category: Local Posted by:

Philadelphia research intiative

This report finds that Philadelphia’s long tradition of high homeownership is changing. From 2000 to 2012, homeownership declined in this city as well as others across the United States. But the drop has been more pronounced in Philadelphia, with sections of Northeast Philadelphia recording the biggest decreases. 

The decline, which has been accompanied by an increase in renting, is largely due to stagnant incomes, rising home prices, tight credit standards for mortgages, and shifting attitudes toward buying a home, particularly among the city’s growing number of young adult residents. Also examined in the report are the changing demographics of owner-occupants in Philadelphia and its neighborhoods, including the share of homes owned by low-income residents and families, and those owned free and clear, without mortgages.

Key Findings

Owner-occupants–52.2percent of Philadelphia homes are owner-occupied, down from 59.3 percent in 2000

low-income homeowners–38percent of Philadelphia’s homeowners earn less than $35,000

NO MORTGAGES–41percent of city homeowners own their properties without mortgages

married couples and families–38percent of homeowners are married couples and families

  • Facebook
  • Twitter

Leave a Comment

Recent News


How to help protect against COVID-19 this season

November 27, 2023

Tweet Email BPT Many people feel the need to shield their loved ones from harm’s way and...


Looking to pursue a career in a growing field? Why cybersecurity should top your list

October 13, 2023

Tweet Email BPT Whether you’re in school, just graduating, or seeking a career change, your best bet...


Sean ‘Diddy’ Combs temporarily steps down as Revolt chairman amid sexual abuse allegations

November 29, 2023

Tweet Email Photo/AP BY JONATHAN LANDRUM JR LOS ANGELES (AP) — Sean “Diddy” Combs has temporarily stepped down...


Former Pro Bowl wide receiver DeSean Jackson to retire as an Eagle

November 29, 2023

Tweet Email ABOVE PHOTO:  DeSean Jackson  (AP Photo/Matt Rourke ) From 6abc: PHILADELPHIA (WPVI) — Wide receiver DeSean...

Fur Babies Rule!

Five ways to support dogs’ health as they age

November 3, 2023

Tweet Email FAMILY FEATURES While you may look at your dogs and see the same little puppies...


Seniors: When you exercise your body, you can boost brain health, too

November 10, 2023

Tweet Email BPT Physical fitness is important as you age, improving strength, flexibility and balance. Research shows...

The Philadelphia Sunday Sun Staff