South Philadelphia West, Philadelphia, PA—19145
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — South Philadelphia West, Philadelphia, PA
As of Oct '25, the median home price in South Philadelphia West, Philadelphia, PA is $246,000, with a year-over-year change of 2.5%. This indicates that home prices in South Philadelphia West, Philadelphia, PA are increasing. According to Zillow, the 1-year price projection is 0.8%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $246,000 | 2.5% |
| Single Family | $245,000 | 2.1% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $242,000 | 3.0% |
3 Bed | $232,000 | 1.8% |
4 Bed | $342,000 | 3.0% |
| 5 Bed | $438,000 | 1.2% |
% of Housing Stock
Rental Trends — South Philadelphia West, Philadelphia, PA
As of July '25, Rentcast reports the average rent in South Philadelphia West, Philadelphia, PA is $1,740, with a year-over-year rent change of 2.4%. Per bedroom, the median rent as of July '25 in South Philadelphia West, Philadelphia, PA is studios: $1,100, 1-bedrooms: $1,280, 2-bedrooms: $1,750, 3-bedrooms: $2,030, 4-bedrooms: $2,840. The most common rental property sizes in South Philadelphia West, Philadelphia, PA are 2-bedroom and 3-bedroom, accounting for 31.2% and 30.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,650 | $1,740 |
| Studio Rent | $1,050 | $1,100 |
| 1 Bed Rent | $1,250 | $1,280 |
| 2 Bed Rent | $1,700 | $1,750 |
| 3 Bed Rent | $2,000 | $2,030 |
| 4 Bed Rent | $2,900 | $2,840 |
% of Rental Stock
Property Listings — South Philadelphia West, Philadelphia, PA
As of Oct '25, Realtor.com reports that the median days on market for a home in South Philadelphia West, Philadelphia, PA is 55. This is a increase of 8.0% 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 40.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $300,000 | 2.0% |
Listing Count | 231 | -8.0% |
| Listings as % of Homes | 1.2% | -8.0% |
Days on Market | 55 | 8.0% |
Demographics — South Philadelphia West, Philadelphia, PA
As of the latest ACS Survey released in 2023, South Philadelphia West, Philadelphia, PA has a population of 43,000, which has decreased by -7.9% over the past 5 years. South Philadelphia West, Philadelphia, PA is a moderately popular place for families, as children make up 17.3% 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 some residents working remotely, with 17.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 43,000 | -7.9% |
% Under 18 | 17.3% | -13.9% |
% Seniors | 15.5% | -5.5% |
% WFH | 17.6% | 329.3% |
% w/ College Degree | 36.1% | 54.3% |
As of the latest ACS Survey released in 2023, South Philadelphia West, Philadelphia, PA is a predominantly white area, with 46.1% of the population identifying as white. The white population has shrunk by 4.8% in the last 5 years. The second most common race or ethnicity in South Philadelphia West, Philadelphia, PA is black, making up 28.1% of the population. Foreign-born residents account for 15.0% of the population in South Philadelphia West, Philadelphia, PA, and this percentage has decreased by 9.6% 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 | 46.1% | -4.8% |
% Black | 28.1% | -9.6% |
% Hispanic | 7.4% | 17.5% |
% Asian | 15.1% | 11.0% |
% Foreign Born | 15.0% | -9.6% |
Mortgage and Risk — South Philadelphia West, Philadelphia, PA
According to HUD data as of 2023, there were 632 mortgage originations in South Philadelphia West, Philadelphia, PA, of which 86.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 25.0% above 90% LTV (very high). This implies large mortgage risk in South Philadelphia West, Philadelphia, PA. Investor activity is low, as 5.0% of loans were by investors. 18.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 632 |
% Conventional Loans | 86.0% |
% Government Loans | 14.0% |
% Investor Loans | 5.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 18.0% |
Loan Activity
Rentals and Section 8 — South Philadelphia West, Philadelphia, PA
As of 2024, the percent of homes in South Philadelphia West, Philadelphia, PA under the Section 8 program is 6.4%. 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 and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in South Philadelphia West, Philadelphia, PA, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 1,654 |
Total Units Section 8 | 495 |
% Rentals under Section 8 | 6.4% |
% Occupied Section 8 | 83.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $250 | $1,250 | $1,500 |
| 2 Bedroom | $90 | $1,700 | $1,790 |
| 3 Bedroom | $160 | $2,000 | $2,160 |
| 4 Bedroom | -$450 | $2,900 | $2,450 |
Affordability — South Philadelphia West, Philadelphia, PA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.4 |
| Median Home Price | $246,000 |
| Median Household Income | $70,400 |