Washington Square West, Philadelphia, PA—19107
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Washington Square West, Philadelphia, PA
As of Oct '25, the median home price in Washington Square West, Philadelphia, PA is $321,000, with a year-over-year change of 2.3%. This indicates that home prices in Washington Square West, Philadelphia, PA are increasing. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $321,000 | 2.3% |
| Single Family | $536,000 | 0.9% |
| Condos | $271,000 | 3.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $241,000 | -1.6% |
2 Bed | $397,000 | 0.8% |
3 Bed | $730,000 | 2.2% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Washington Square West, Philadelphia, PA
As of July '25, Rentcast reports the average rent in Washington Square West, Philadelphia, PA is $2,100, with a year-over-year rent change of -11.0%. Per bedroom, the median rent as of July '25 in Washington Square West, Philadelphia, PA is studios: $1,370, 1-bedrooms: $2,050, 2-bedrooms: $2,740, 3-bedrooms: $2,910, 4-bedrooms: $2,820. The most common rental property sizes in Washington Square West, Philadelphia, PA are 1-bedroom and studio, accounting for 47.6% and 25.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,860 | $2,100 |
| Studio Rent | $1,200 | $1,370 |
| 1 Bed Rent | $1,850 | $2,050 |
| 2 Bed Rent | $2,300 | $2,740 |
| 3 Bed Rent | $2,650 | $2,910 |
| 4 Bed Rent | $2,150 | $2,820 |
% of Rental Stock
Property Listings — Washington Square West, Philadelphia, PA
As of Oct '25, Realtor.com reports that the median days on market for a home in Washington Square West, Philadelphia, PA is 80. This is a decrease of -6.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 18.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $300,000 | 1.0% |
Listing Count | 122 | 2.0% |
| Listings as % of Homes | 0.8% | 2.0% |
Days on Market | 80 | -6.0% |
Demographics — Washington Square West, Philadelphia, PA
As of the latest ACS Survey released in 2023, Washington Square West, Philadelphia, PA has a population of 15,500, which has increased by 13.0% over the past 5 years. Washington Square West, Philadelphia, PA is a less popular place for families, as children make up 5.2% of the population. The area has a highly educated workforce, with 71.7% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 26.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 15,500 | 13.0% |
% Under 18 | 5.2% | -16.1% |
% Seniors | 11.3% | 1.8% |
% WFH | 26.1% | 301.5% |
% w/ College Degree | 71.7% | 5.9% |
As of the latest ACS Survey released in 2023, Washington Square West, Philadelphia, PA is a predominantly white area, with 51.5% of the population identifying as white. The white population has shrunk by 7.2% in the last 5 years. The second most common race or ethnicity in Washington Square West, Philadelphia, PA is asian, making up 22.7% of the population. Foreign-born residents account for 20.9% of the population in Washington Square West, Philadelphia, PA, and this percentage has decreased by 14.3% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 51.5% | -7.2% |
% Black | 14.8% | 80.5% |
% Hispanic | 5.3% | 3.9% |
% Asian | 22.7% | -16.5% |
% Foreign Born | 20.9% | -14.3% |
Mortgage and Risk — Washington Square West, Philadelphia, PA
According to HUD data as of 2023, there were 126 mortgage originations in Washington Square West, Philadelphia, PA, of which 98.0% of loans were conventional mortgages. The average loan-to-value was 69.0%, with 14.0% above 90% LTV (elevated). This implies medium mortgage risk in Washington Square West, Philadelphia, PA. Investor activity is low, as 7.0% of loans were by investors. 1.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 126 |
% Conventional Loans | 98.0% |
% Government Loans | 2.0% |
% Investor Loans | 7.0% |
% Second Loans | 4.0% |
% Cash Out Refinance | 1.0% |
Loan Activity
Rentals and Section 8 — Washington Square West, Philadelphia, PA
As of 2024, the percent of homes in Washington Square West, Philadelphia, PA under the Section 8 program is 9.6%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Washington Square West, Philadelphia, PA, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 902 |
Total Units Section 8 | 855 |
% Rentals under Section 8 | 9.6% |
% Occupied Section 8 | 86.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $360 | $1,850 | $2,210 |
| 2 Bedroom | $330 | $2,300 | $2,630 |
| 3 Bedroom | $520 | $2,650 | $3,170 |
| 4 Bedroom | $1,450 | $2,150 | $3,600 |
Affordability — Washington Square West, Philadelphia, PA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.7 |
| Median Home Price | $321,000 |
| Median Household Income | $70,400 |