A recent report by the Center City District looks at the economic resilience of Center City amid the recession and shows that it is smart to live downtown. The report shows home values in Center City are down a fraction of what other cities are experiencing – and Center City real estate prices have held up better than citywide.
- Center City housing markets have performed better in this recession than many other places because Philadelphia’s economy and the high skilled industries that define downtown have fared better.
- Philadelphia is built on an intimate-scale street grid, it has a broad range of amenities and the ability to walk, take transit or bike to work have all been factors in attracting and retaining residents who value convenience, cost-effectiveness and a sustainable lifestyle.
- For the first time in 50 years, Philadelphia’s population has begun to increase, led by growth in Center City and University City.
The success of Center City in turn creates opportunity in every city neighborhood.
FIND YOUR CENTER CITY HOME