report

Center City Housing Report 2024

This Center City District/Central Philadelphia Development Corp. annual housing report examines Center City Philadelphia's residential sector momentum and the cumulative effects of three decades of growth, the rebound from 2020 and its impact on housing markets, new and upcoming residential developments and homeownership trends, and the status of the rental market. 

Among the key findings: 

  • While the number of workers and visitors to Center City has not fully rebounded to 2019 levels, Greater Center City’s residential population has grown by 3% during the last four years, and making this the fastest growing residential area in Philadelphia. In the last two decades, the overall population of Greater Center City has risen by 26%.
  • After a pause in housing production in 2020, momentum has returned, with 7,429 units added to Greater Center City since 2021 and 7,181 more in the pipeline.
  • Employees living within two miles of their place of work have returned to the office at a rate of 90%, compared with a recovery rate of 70% of workers commuting from other areas of the city and region. A growing population proximate to the region’s largest employment center means shorter commutes, less traffic congestion and air pollution, and more retail demand and sidewalk vitality.
     

For a narrative of trends, along with explanatory charts and maps, read or download the new 20-page housing report on Issuu at Center City Housing Report 2024.

READ/DOWNLOAD THE REPORT 

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