{"id":1000051,"date":"2026-08-14T10:26:19","date_gmt":"2026-08-14T10:26:19","guid":{"rendered":"https:\/\/www.europesays.com\/us\/1000051\/"},"modified":"2026-08-14T10:26:19","modified_gmt":"2026-08-14T10:26:19","slug":"homebuying-in-the-philly-area-is-less-affordable-than-last-year","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/1000051\/","title":{"rendered":"Homebuying in the Philly area is less affordable than last year"},"content":{"rendered":"<p>Have a question about Philly\u2019s neighborhoods or the systems that shape them? PlanPhilly reporters want to hear from you! <a href=\"#Section1\">Ask us a question or send us a story idea you think we should cover.<\/a>\n<\/p>\n<p>New data show that homebuying in the Philadelphia area has become less affordable over the last year.\n<\/p>\n<p>Would-be buyers in the metropolitan area needed to earn just over $94,000 a year to afford a typical home in June, according to <a href=\"https:\/\/www.redfin.com\/news\/affordability-homebuying-2026\/\" rel=\"nofollow noopener\" target=\"_blank\">real estate broker Redfin<\/a>. The total is 4.5% higher than at the same time in 2025 and roughly $20,000 above the metro\u2019s median household income.\n<\/p>\n<p>\u201cPhiladelphia definitely is one of those places where people in the middle class are having a difficult time becoming homeowners,\u201d said Daryl Fairweather, chief economist at Redfin.\n  <\/p>\n<p>As of June, the median sale price for a home in the Philadelphia metro was $337,988.\n<\/p>\n<p>The figure, which covers the city and Delaware County, means that a median-earning household could afford just about half of all home listings that month, according to the report.\n<\/p>\n<p>Redfin\u2019s analysis puts a finer point on an affordability crisis that continues to sideline many aspiring homebuyers, especially first-timers.\n<\/p>\n<p>While there are more listings than last year, economists say <a href=\"https:\/\/whyy.org\/articles\/philadelphia-real-estate-market-housing-economists\/\" rel=\"nofollow noopener\" target=\"_blank\">inventory remains historically low<\/a>. And the homes that are on the market are more expensive than ever.\n<\/p>\n<p>That is particularly true for Philadelphia, where prices are growing at one of the strongest rates in the country, largely because of pressure created by the city\u2019s robust health care sector, according to Mark Zandi, chief economist at Moody\u2019s Analytics.\n<\/p>\n<p>\u201cPhiladelphia\u2019s large and strong health care industry is creating many jobs and driving income growth. The increase in jobs and income is, in turn, driving up housing demand and thus supporting stronger house price growth,\u201d Zandi said in June.\n        <\/p>\n","protected":false},"excerpt":{"rendered":"Have a question about Philly\u2019s neighborhoods or the systems that shape them? PlanPhilly reporters want to hear from&hellip;\n","protected":false},"author":3,"featured_media":1000052,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[5132],"tags":[852,5229,44068,1448,2830,1311,12771,71423,67,586,132,5230,68,2969],"class_list":["post-1000051","post","type-post","status-publish","format-standard","has-post-thumbnail","category-philadelphia","tag-affordable-housing","tag-america","tag-housing-prices","tag-pa","tag-pennsylvania","tag-philadelphia","tag-planphilly","tag-real-estate-market","tag-united-states","tag-united-states-of-america","tag-unitedstates","tag-unitedstatesofamerica","tag-us","tag-usa"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/117093386664674553","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/1000051","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=1000051"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/1000051\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/1000052"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=1000051"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=1000051"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=1000051"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}