Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Philly’s affordability is overstated. Compared to the other East Coast cities, Philly is more affordable. But compared to sunbelt and rust belt cities, Philly is somewhat expensive. Last year, raw unfinished space in luxe condo went for nearly $18M. Obviously, that is not the norm. But how many cities in the sunbelt or rust belt sell any properties at that price?
When we moved from Houston, we had to pay 3X the sale price our house for comparable quarters in Philly. People can still get into the next next tier of emerging neighborhoods such as Point Breeze and Kensington for a pretty good deal. Prices continue to grow further and further from Center City with each passing year.
It's slightly more expensive than large Sunbelt cities. Here is the % of rental units on the market with an ask price of $1,500 or more.
Manhattan - 67.7%
San Francisco - 57.9%
Boston - 49.4%
Washington - 47.5%
Seattle - 42.2%
Los Angeles - 38.0%
Brooklyn - 29.7%
Miami - 28.1% Philadelphia - 15.2%
Chicago - 15.1%
Atlanta - 11.5%
Houston - 11.5%
Dallas - 10.6%
The Sunbelt is quietly becoming more expensive and it wouldn't surprise me if median rents in Atlanta surpass those of Philly within the next 10 years.
The Sunbelt is quietly becoming more expensive and it wouldn't surprise me if median rents in Atlanta surpass those of Philly within the next 10 years.
Philadelphia is also becoming more expensive, so it remains to be seen.
Philly might be a bargain for what you get urban amenities wise but that doesn't make it cheap.
To use another example, you might be able to buy a way bigger and nicer million dollar house in Dallas than say LA, but that doesn't mean that a million dollar house isn't still expensive to most people even if the same house cost 2 million in LA.
It's slightly more expensive than large Sunbelt cities. Here is the % of rental units on the market with an ask price of $1,500 or more.
Manhattan - 67.7%
San Francisco - 57.9%
Boston - 49.4%
Washington - 47.5%
Seattle - 42.2%
Los Angeles - 38.0%
Brooklyn - 29.7%
Miami - 28.1% Philadelphia - 15.2%
Chicago - 15.1%
Atlanta - 11.5%
Houston - 11.5%
Dallas - 10.6%
The Sunbelt is quietly becoming more expensive and it wouldn't surprise me if median rents in Atlanta surpass those of Philly within the next 10 years.
Yea it’s getting old hearing about the sunbelt being cheap when in reality some of the cities there are experiencing the fastest increase in rent.
I know Manhattan and Brooklyn both took a dip in rental prices last year.
The Sunbelt is quietly becoming more expensive and it wouldn't surprise me if median rents in Atlanta surpass those of Philly within the next 10 years.
1. That isn't a necessarily a good thing for Atlanta to become expensive.
2. You act as if Philadelphia is stagnant with no growth. The stars seem to be aligning better for Philadelphia than many other cities.
1. That isn't a necessarily a good thing for Atlanta to become expensive.
2. You act as if Philadelphia is stagnant with no growth. The stars seem to be aligning better for Philadelphia than many other cities.
1. That isn't a necessarily a good thing for Atlanta to become expensive.
2. You act as if Philadelphia is stagnant with no growth. The stars seem to be aligning better for Philadelphia than many other cities.
I never made any comment about whether it's a good or bad thing. My point was that the COL gap between cities like Chicago/Philly and Atlanta/Dallas has been closing. Someone moving from Atlanta to Philly 10 years ago may have been in for a bit of sticker shock, but that's not the case so much today because Atlanta has witnessed a large run up in prices the past few years.
The city of Atlanta has a higher median HHI than Philadelphia ($46,585 vs $36,836). The gap between Atlanta and Philly's median HHI on the MSA level has shrunk by $1,366 since 2013 (now $62,213 vs $65,996). As incomes continue to reach parity with those of Chicago and Philadelphia, it only makes sense that we'd see a concomitant increase in the COL.
i never made any comment about whether it's a good or bad thing. My point was that the col gap between cities like chicago/philly and atlanta/dallas has been closing. Someone moving from atlanta to philly 10 years ago may have been in for a bit of sticker shock, but that's not the case so much today because atlanta has witnessed a large run up in prices the past few years.
The city of atlanta has a higher median hhi than philadelphia ($46,585 vs $36,836). The gap between atlanta and philly's median hhi on the msa level has shrunk by $1,366 since 2013 (now $62,213 vs $65,996). As incomes continue to reach parity with those of chicago and philadelphia, it only makes sense that we'd see a concomitant increase in the col.
DC feels like a southern sunbelt city to me: wide streets and boulevards, mid-rise construction, street parking, few(er) pedestrians, etc. I imagine there wouldn’t be much overlap of those who prefer one of these cities over the other.
I prefer Philly. It has more of a "big city" feel to me, which is subjective, but I prefer it's vibe, energy, and look more.
Reputation and respect are subjective. As far as stereotypical media reputation- Philly is tough, Rocky, cheesesteaks, crazy/passionate sports fans. DC is politics, white collar, government workers, monuments/museums.
From my experiences, people from the northeast and select parts of the Midwest tend to prefer Philly over DC. Whereas the rest of the country prefers DC over Philly.
Pretty much.
Philly is a city that people love to hate on and count out, yet it continues to thrive. (Which apparently pisses people off even more ) For a city with an outdated "image/reputation problem", its been chosen to host multiple national events in recent years; the World Meeting of the Families/Pope visit in 2015,The DNC 2016, the NFL draft 2017..all wanted Philly. Philly is currently hosting a massive 2-3 million person Superbowl Champion parade on the Ben Franklin Parkway. (I know that may not be a considered a national event to some, but I just had to throw that in there ) Philly continues to make strides despite being constantly doubted.
DC, not really my cup of tea from a city/living standpoint, but it has some nice things about it. However, outside of job opportunities/growth and being the seat of the US government, I'm not sure what one could boast DC has over a city like Philly. But again this thread is about peoples perceptions which is indeed subjective.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
) For a city with an outdated "image/reputation problem", its been chosen to host multiple national events in recent years; the World Meeting of the Families/Pope visit in 2015,The DNC 2016, the NFL draft 2017..all wanted Philly. Philly is currently hosting a massive 2-3 million person Superbowl Champion parade on the Ben Franklin Parkway. (I know that may not be a considered a national event to some, but I just had to throw that in there 
) Philly continues to make strides despite being constantly doubted. 
