Elmwood, Philadelphia, PA—19142
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Elmwood, Philadelphia, PA
As of Oct '25, the median home price in Elmwood, Philadelphia, PA is $133,000, with a year-over-year change of 6.0%. This indicates that home prices in Elmwood, Philadelphia, PA are increasing. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $133,000 | 6.0% |
| Single Family | $133,000 | 6.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $117,000 | 1.7% |
3 Bed | $131,000 | 6.5% |
4 Bed | $156,000 | 8.3% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Elmwood, Philadelphia, PA
As of July '25, Rentcast reports the average rent in Elmwood, Philadelphia, PA is $1,410, with a year-over-year rent change of 9.3%. Per bedroom, the median rent as of July '25 in Elmwood, Philadelphia, PA is studios: $959, 1-bedrooms: $1,220, 2-bedrooms: $1,320, 3-bedrooms: $1,520, 4-bedrooms: $1,700. The most common rental property sizes in Elmwood, Philadelphia, PA are 3-bedroom and 1-bedroom, accounting for 66.0% and 14.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,400 | $1,410 |
| Studio Rent | $959 | $959 |
| 1 Bed Rent | $1,300 | $1,220 |
| 2 Bed Rent | $1,300 | $1,320 |
| 3 Bed Rent | $1,500 | $1,520 |
| 4 Bed Rent | $1,650 | $1,700 |
% of Rental Stock
Property Listings — Elmwood, Philadelphia, PA
As of Oct '25, Realtor.com reports that the median days on market for a home in Elmwood, Philadelphia, PA is 62. This is a increase of 15.0% 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 21.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $165,000 | 6.0% |
Listing Count | 112 | 4.0% |
| Listings as % of Homes | 0.8% | 4.0% |
Days on Market | 62 | 15.0% |
Demographics — Elmwood, Philadelphia, PA
As of the latest ACS Survey released in 2023, Elmwood, Philadelphia, PA has a population of 30,300, which has increased by 7.7% over the past 5 years. Elmwood, Philadelphia, PA is a popular place for families, as children make up 27.4% of the population. The area has a poorly educated workforce, with 12.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 30,300 | 7.7% |
% Under 18 | 27.4% | -7.7% |
% Seniors | 8.2% | 0.0% |
% WFH | 5.4% | 390.9% |
% w/ College Degree | 12.6% | 31.2% |
As of the latest ACS Survey released in 2023, Elmwood, Philadelphia, PA is a predominantly black area, with 80.0% of the population identifying as black. The black population has shrunk by 5.8% in the last 5 years. The second most common race or ethnicity in Elmwood, Philadelphia, PA is asian, making up 7.2% of the population. Foreign-born residents account for 24.9% of the population in Elmwood, Philadelphia, PA, and this percentage has increased by 13.2% 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 | 3.8% | -35.6% |
% Black | 80.0% | -5.8% |
% Hispanic | 5.7% | 119.2% |
% Asian | 7.2% | 14.3% |
% Foreign Born | 24.9% | 13.2% |
Mortgage and Risk — Elmwood, Philadelphia, PA
According to HUD data as of 2023, there were 221 mortgage originations in Elmwood, Philadelphia, PA, of which 59.0% of loans were conventional mortgages. The average loan-to-value was 77.0%, with 45.0% above 90% LTV (very high). This implies large mortgage risk in Elmwood, Philadelphia, PA. Investor activity is low, as 10.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 221 |
% Conventional Loans | 59.0% |
% Government Loans | 41.0% |
% Investor Loans | 10.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Elmwood, Philadelphia, PA
As of 2024, the percent of homes in Elmwood, Philadelphia, PA under the Section 8 program is 11.1%. 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. 2-bedroom and 3-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Elmwood, Philadelphia, PA, because HUD payments exceed market rent, while 1-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 763 |
Total Units Section 8 | 585 |
% Rentals under Section 8 | 11.1% |
% Occupied Section 8 | 83.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$70 | $1,300 | $1,230 |
| 2 Bedroom | $170 | $1,300 | $1,470 |
| 3 Bedroom | $270 | $1,500 | $1,770 |
| 4 Bedroom | $360 | $1,650 | $2,010 |
Affordability — Elmwood, Philadelphia, PA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $133,000 |
| Median Household Income | $42,800 |