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  5. /Somerton, Philadelphia, PA - 19116

Somerton, Philadelphia, PA—19116

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$397,000
1.7% YoY Growth
Household Income
$67,600
22.6% YoY Growth
Days on Market
30
9.0% Longer YoY
Home Price Forecast
1.4%
Median Rent
$2,000
19.0% YoY Growth
1-Bed Rent
$1,300
7.0% YoY Growth
2-Bed Rent
$1,800
9.0% YoY Growth
3-Bed Rent
$2,700
16.9% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Somerton, Philadelphia, PA

As of May '26, the median home price in Somerton, Philadelphia, PA is $397,000, with a year-over-year change of 1.7%. This indicates that home prices in Somerton, Philadelphia, PA are increasing. According to Zillow, the 1-year price projection is 1.4%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$397,0001.7%
Single Family $405,0001.0%
Condos $234,0004.5%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

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  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$286,0001.4%
    3 Bed
    		$403,0001.3%
    4 Bed
    		$422,0000.0%
    5 Bed N/AN/A
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    % of Housing Stock

    Studio
    6.1%
    1 Bedroom
    13.6%
    2 Bedrooms
    30.2%
    3 Bedrooms
    36.1%
    4 Bedrooms
    12.2%
    5+ Bedrooms
    1.8%

    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.

    TypeMedian RentAverage 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
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    % of Rental Stock

    Studio
    12.5%
    1 Bedroom
    31.0%
    2 Bedrooms
    48.2%
    3 Bedrooms
    6.8%
    4 Bedrooms
    1.3%
    5+ Bedrooms
    0.1%

    Property Listings — Somerton, Philadelphia, PA

    As of May '26, Realtor.com reports that the median days on market for a home in Somerton, Philadelphia, PA is 30. This is a increase of 9.0% 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 19.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$430,0003.0%
    Listing Count
    		6344.0%
    Listings as % of Homes0.3%44.0%
    Days on Market
    		309.0%
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    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.

    MetricLatest CensusYoY % 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%
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    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

    MetricLatest Census5-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%
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    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

    MetricZip 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%
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    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 SizeHUD PremiumMarket RentMax 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

    MetricZip Code Average
    Home Price to Income Ratio5.2
    Median Home Price$397,000
    Median Household Income$67,600

    Somerton, Philadelphia, PA — ZIP Code Boundary Map

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    Frequently Asked Questions