Somerton, Philadelphia, PA—19116
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Somerton, Philadelphia, PA
As of Oct '25, the median home price in Somerton, Philadelphia, PA is $386,000, with a year-over-year change of 4.4%. This indicates that home prices in Somerton, Philadelphia, PA are increasing. According to Zillow, the 1-year price projection is 1.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $386,000 | 4.4% |
| Single Family | $393,000 | 3.7% |
| Condos | $228,000 | 4.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $280,000 | 2.6% |
3 Bed | $393,000 | 4.0% |
4 Bed | $410,000 | 3.3% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Somerton, Philadelphia, PA
As of July '25, Rentcast reports the average rent in Somerton, Philadelphia, PA is $2,130, with a year-over-year rent change of 19.0%. Per bedroom, the median rent as of July '25 in Somerton, Philadelphia, PA is studios: $2,360, 1-bedrooms: $1,320, 2-bedrooms: $1,820, 3-bedrooms: $2,700, 4-bedrooms: $2,820. The most common rental property sizes in Somerton, Philadelphia, PA are 2-bedroom and 1-bedroom, accounting for 48.2% and 31.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,000 | $2,130 |
| Studio Rent | $1,100 | $2,360 |
| 1 Bed Rent | $1,300 | $1,320 |
| 2 Bed Rent | $1,800 | $1,820 |
| 3 Bed Rent | $2,700 | $2,700 |
| 4 Bed Rent | $2,800 | $2,820 |
% of Rental Stock
Property Listings — Somerton, Philadelphia, PA
As of Oct '25, Realtor.com reports that the median days on market for a home in Somerton, Philadelphia, PA is 45. This is a increase of 34.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 28.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $425,000 | -2.0% |
Listing Count | 64 | 6.0% |
| Listings as % of Homes | 0.3% | 6.0% |
Days on Market | 45 | 34.0% |
Demographics — Somerton, Philadelphia, PA
As of the latest ACS Survey released in 2023, Somerton, Philadelphia, PA has a population of 33,400, which has decreased by -4.3% over the past 5 years. Somerton, Philadelphia, PA is a moderately popular place for families, as children make up 19.8% of the population. The area has a moderately educated workforce, with 36.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 33,400 | -4.3% |
% Under 18 | 19.8% | 0.5% |
% Seniors | 22.3% | 10.4% |
% WFH | 8.0% | 515.4% |
% w/ College Degree | 36.1% | 23.6% |
As of the latest ACS Survey released in 2023, Somerton, Philadelphia, PA is a predominantly white area, with 66.3% of the population identifying as white. The white population has shrunk by 0.6% in the last 5 years. The second most common race or ethnicity in Somerton, Philadelphia, PA is asian, making up 18.0% of the population. Foreign-born residents account for 39.6% of the population in Somerton, Philadelphia, PA, and this percentage has increased by 4.2% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 66.3% | -0.6% |
% Black | 6.0% | 0.0% |
% Hispanic | 5.0% | -20.6% |
% Asian | 18.0% | 7.1% |
% Foreign Born | 39.6% | 4.2% |
Mortgage and Risk — Somerton, Philadelphia, PA
According to HUD data as of 2023, there were 452 mortgage originations in Somerton, Philadelphia, PA, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 53.0%, with 12.0% above 90% LTV (elevated). This implies medium mortgage risk in Somerton, Philadelphia, PA. Investor activity is low, as 4.0% of loans were by investors. 25.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 452 |
% Conventional Loans | 90.0% |
% Government Loans | 10.0% |
% Investor Loans | 4.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 25.0% |
Loan Activity
Rentals and Section 8 — Somerton, Philadelphia, PA
As of 2024, the percent of homes in Somerton, Philadelphia, PA under the Section 8 program is 12.8%. 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. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Somerton, Philadelphia, PA, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 746 |
Total Units Section 8 | 670 |
% Rentals under Section 8 | 12.8% |
% Occupied Section 8 | 91.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $50 | $1,300 | $1,350 |
| 2 Bedroom | -$190 | $1,800 | $1,610 |
| 3 Bedroom | -$760 | $2,700 | $1,940 |
| 4 Bedroom | -$590 | $2,800 | $2,210 |
Affordability — Somerton, Philadelphia, PA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.1 |
| Median Home Price | $386,000 |
| Median Household Income | $67,600 |