Philadelphia market pulse
Real public data for Philadelphia's ZIP codes, updated as the agencies publish.
Metro prices
+2.8%
in 1 year · Philadelphia metro · 2025 Q2–2026 Q2
Past change, not a forecast.
Data table
| Quarter | Index | Change since 2025 Q2 |
|---|---|---|
| 2025 Q2 | 424.3 | — |
| 2025 Q3 | 421.1 | -0.8% |
| 2025 Q4 | 419.0 | -1.2% |
| 2026 Q1 | 423.2 | -0.3% |
| 2026 Q2 | 436.2 | +2.8% |
Each index has its own base, so compare its changes, not its level.
Details
FHFA's purchase-only index for Philadelphia, PA: repeat sales of the same houses, from mortgages Fannie Mae and Freddie Mac purchased or securitized. It isn't seasonally adjusted, so each span starts in the quarter it ends.
+27%
in 5 years · Philadelphia metro · 2021 Q2–2026 Q2
Past change, not a forecast.
Data table
| Quarter | Index | Change since 2021 Q2 |
|---|---|---|
| 2021 Q2 | 343.5 | — |
| 2021 Q3 | 346.7 | +0.9% |
| 2021 Q4 | 347.3 | +1.1% |
| 2022 Q1 | 359.9 | +4.8% |
| 2022 Q2 | 374.0 | +8.9% |
| 2022 Q3 | 373.4 | +8.7% |
| 2022 Q4 | 373.4 | +8.7% |
| 2023 Q1 | 370.4 | +7.8% |
| 2023 Q2 | 384.4 | +12% |
| 2023 Q3 | 387.1 | +13% |
| 2023 Q4 | 384.4 | +12% |
| 2024 Q1 | 387.1 | +13% |
| 2024 Q2 | 401.9 | +17% |
| 2024 Q3 | 404.1 | +18% |
| 2024 Q4 | 411.0 | +20% |
| 2025 Q1 | 407.5 | +19% |
| 2025 Q2 | 424.3 | +24% |
| 2025 Q3 | 421.1 | +23% |
| 2025 Q4 | 419.0 | +22% |
| 2026 Q1 | 423.2 | +23% |
| 2026 Q2 | 436.2 | +27% |
Each index has its own base, so compare its changes, not its level.
Details
FHFA's purchase-only index for Philadelphia, PA: repeat sales of the same houses, from mortgages Fannie Mae and Freddie Mac purchased or securitized. It isn't seasonally adjusted, so each span starts in the quarter it ends.
+80%
in 10 years · Philadelphia metro · 2016 Q2–2026 Q2
Past change, not a forecast.
Data table
| Quarter | Index | Change since 2016 Q2 |
|---|---|---|
| 2016 Q2 | 242.4 | — |
| 2016 Q3 | 247.8 | +2.2% |
| 2016 Q4 | 246.0 | +1.5% |
| 2017 Q1 | 251.6 | +3.8% |
| 2017 Q2 | 260.7 | +7.5% |
| 2017 Q3 | 260.2 | +7.3% |
| 2017 Q4 | 261.3 | +7.8% |
| 2018 Q1 | 266.3 | +9.9% |
| 2018 Q2 | 275.3 | +14% |
| 2018 Q3 | 277.7 | +15% |
| 2018 Q4 | 278.8 | +15% |
| 2019 Q1 | 280.3 | +16% |
| 2019 Q2 | 288.7 | +19% |
| 2019 Q3 | 287.9 | +19% |
| 2019 Q4 | 289.9 | +20% |
| 2020 Q1 | 297.9 | +23% |
| 2020 Q2 | 303.9 | +25% |
| 2020 Q3 | 315.3 | +30% |
| 2020 Q4 | 318.2 | +31% |
| 2021 Q1 | 324.1 | +34% |
| 2021 Q2 | 343.5 | +42% |
| 2021 Q3 | 346.7 | +43% |
| 2021 Q4 | 347.3 | +43% |
| 2022 Q1 | 359.9 | +48% |
| 2022 Q2 | 374.0 | +54% |
| 2022 Q3 | 373.4 | +54% |
| 2022 Q4 | 373.4 | +54% |
| 2023 Q1 | 370.4 | +53% |
| 2023 Q2 | 384.4 | +59% |
| 2023 Q3 | 387.1 | +60% |
| 2023 Q4 | 384.4 | +59% |
| 2024 Q1 | 387.1 | +60% |
| 2024 Q2 | 401.9 | +66% |
| 2024 Q3 | 404.1 | +67% |
| 2024 Q4 | 411.0 | +70% |
| 2025 Q1 | 407.5 | +68% |
| 2025 Q2 | 424.3 | +75% |
| 2025 Q3 | 421.1 | +74% |
| 2025 Q4 | 419.0 | +73% |
| 2026 Q1 | 423.2 | +75% |
| 2026 Q2 | 436.2 | +80% |
Each index has its own base, so compare its changes, not its level.
Details
FHFA's purchase-only index for Philadelphia, PA: repeat sales of the same houses, from mortgages Fannie Mae and Freddie Mac purchased or securitized. It isn't seasonally adjusted, so each span starts in the quarter it ends.
ZIP by ZIP
+86%
The median ZIP's house price index, 2015–2025. 44 ZIPs, from +31% to +179%.
One-year ZIP changes are noisy: of last year's top-3 ZIPs in our 50 cities, 1 in 15 was top 3 again. Past change, not a forecast.
About these figures
FHFA's experimental ZIP house price index: houses with Fannie Mae or Freddie Mac loans, from sales and refinance appraisals. Condos, co-ops and multi-unit buildings aren't in it. 44 of Philadelphia's 47 ZIPs have an index; FHFA publishes one only where enough sales exist. A ZIP whose index stops before the latest year shows the year it ends instead of changes. Each index has its own base, so compare a ZIP's changes, not its level.
Rent or buy here
EstimateMonthly housing payment (est.): 20% down · 30-year fixed at 7.03% (Freddie Mac average) · 360 monthly loan payments of $3,385 · APR not calculated (it depends on the lender's fees) · includes principal and interest, property tax, home insurance and any HOA dues, plus mortgage insurance below 20% down.7.03% is Freddie Mac's average 30-year fixed rate for the week of Sep 24, 2026, for buyers with 20% down and excellent credit. It isn't an offer or an APR.Source: Freddie Mac Primary Mortgage Market Survey · Sep 24, 2026 (opens in a new tab)$2,240
a month more to own a typical sample home than HUD's rent for its size, ZIP 19119
- Own: 3-bedroom sample house, $634,000Sample: fictional home, for the demo.
- EstimateMonthly housing payment (est.): 20% down · 30-year fixed at 7.03% (Freddie Mac average) · 360 monthly loan payments of $3,385 · APR not calculated (it depends on the lender's fees) · includes principal and interest, property tax, home insurance and any HOA dues, plus mortgage insurance below 20% down.7.03% is Freddie Mac's average 30-year fixed rate for the week of Sep 24, 2026, for buyers with 20% down and excellent credit. It isn't an offer or an APR.Source: Freddie Mac Primary Mortgage Market Survey · Sep 24, 2026 (opens in a new tab)$4,240 a monthNot included: upkeep, utilities, flood insurance, special assessments.
- Rent: HUD fair market rent, 3 bedrooms
- $2,000 a monthHUD Small Area Fair Market Rent, FY2027: a 40th-percentile rent for a standard home, utilities included. Not an asking rent.
Lending
6.5%
Median rate, 30-year fixed conventional · 6,356 loans · 2025
2025 home-purchase loans (first liens) on owner-occupied 1–4 unit homes in Philadelphia's census tracts: 9,783 loans. Loans that closed, not offers: a rate depends on your credit, down payment, points and the day you lock it.
- Middle half of rates
- 6.249% to 6.875%
- Loan costs at closing
- $5,960 medianMiddle half $4,767 to $8,086: origination charges (points included) and settlement services, Closing Disclosure section D · 6,764 loans
- Loan limits, 2026
- $832,750 conformingAbove it, a jumbo loan with its own rates and rules; FHA limit $630,200 (one-unit home, Philadelphia County). Limits set by FHFA and HUD.
More lending figures
- Borrowed, every loan on the home combined
- 95% of the value (median)Middle half 80% to 97.6%. 68.6% of buyers borrowed more than 80% of the value, 55.5% more than 90%, 40.7% more than 95%. HMDA's combined loan-to-value counts every loan on the home (second loans, down-payment-assistance loans, financed FHA or VA fees) against the value the lender used, so it doesn't show the cash buyers put down · 9,380 loans
- Loan types
- Conventional 73.6% · FHA 22.9%VA 3.5% · USDA 0%
- Discount points
- 45.4% of loans paid pointsMedian paid: $2,061. Points buy a lower rate.
For comparison: 7.03% is Freddie Mac's average 30-year fixed rate for the week of Sep 24, 2026, for buyers with 20% down and excellent credit. It isn't an offer or an APR.
Flood and insurance
$1,711 a year
Median of 45 Philadelphia ZIPs' average homeowners premiums, 2022. Premiums have risen since; get quotes for your address.
- Federal flood insurance
- 1,619 policies in force · 949 claims since 2000FEMA National Flood Insurance Program, summed over 47 ZIPs (policies in force Jun 30, 2026; claims since 2000). Private flood policies aren't counted.
- Policies insurers didn't renew
- 0.5% in the median ZIPU.S. Treasury Federal Insurance Office, 2022.
Most homeowners policies exclude flood, so flood insurance is a separate policy. Source: FEMA FloodSmart: What is my flood risk?, retrieved 2026-10-09 (opens in a new tab) Check an address on FEMA's flood map (opens in a new tab)
County hazard ratings (FEMA)
Natural hazards, compared with other U.S. counties
- Philadelphia County, PA: expected yearly losses rated very high for heat wave, winter weather; expected yearly losses rated relatively high for earthquake, hurricane, coastal flooding, inland flooding, tornado.
Other ratings for Philadelphia County, PA
- WildfireVery Low
- HailRelatively Moderate
FEMA National Risk Index December 2025: Expected Annual Loss rating of each hazard, by county (NRI December 2025): expected annual losses to buildings, people and agriculture; FEMA's social-vulnerability adjustments aren't included. This describes each county, not one home. Check an address on FEMA's flood map; in a high-risk flood zone, a federally backed loan requires flood insurance.
What's new in Philadelphia
Rail openings, zoning changes and big projects from primary sources, newest first. News, not a price forecast.
- Rail opened
PATCO Franklin Square station reopens
The rebuilt station returns to passenger service after decades closed. This is a reopening, not a new PATCO line.
DRPA/PATCO, Franklin Square reopening (opens in a new tab) - Project
Park at Penn’s Landing construction is launched
The highway-cap park project begins, intended to reconnect Old City and the waterfront. This is a groundbreaking milestone, not an opened park.
KieranTimberlake, Park at Penn’s Landing groundbreaking (project architect) (opens in a new tab)
Rules in Pennsylvania
From state law, standard contract forms and local custom. Research, not legal advice.
- ClosingRule
- A title company runs the closing and holds the money.
- Seller's disclosureRule
- Seller's Property Disclosure Statement, 68 Pa.C.S. Chapter 73
- Closing taxesRule
- Pennsylvania realty transfer tax: 1% of the price · split 50/50Philadelphia city realty transfer tax: 3.578% of the price · split 50/50
How buying works in Pennsylvania
- Who runs the closing
- A title company runs the closing and holds the money. Typical time from contract to keys: about 45 days.
- The contract
- Your signed offer becomes a binding contract once the seller accepts it.
Details
Pennsylvania Association of REALTORS Standard Agreement for Sale of Real Estate (ASR)
- Buyer agreement
- Pennsylvania written buyer agency contract and Consumer Notice, signed before touring.
Details
Homiy's prototype requires a written agreement before a represented tour. NAR's rule binds participating MLS brokers; do not describe it as a universal state law. Compensation is negotiable and total brokerage pay cannot exceed the agreement.
Source: NAR: written buyer agreements before touring (MLS participation rule, not a universal state statute) (reviewed 2026-09-27)
- Inspection
- About 10 days for inspections.
Details
Inspection rights and response/negotiation periods come from the agreement. 10 calendar days is a negotiable sample planning period, not a statutory deadline.
- Earnest money
- 1–3% of the price, due within 3 days, held by: Named broker escrow or title/settlement escrow.
Details
Sample only: delivery within 3 calendar days and 1–3% earnest money; the signed contract controls. Buyer delivery is distinct from the holder's statutory deposit deadline.
- Seller's disclosure
- Seller's Property Disclosure Statement, 68 Pa.C.S. Chapter 73
Details
Covered residential sellers disclose known material defects before signing; statutory exemptions apply. The statute is not an automatic three-day rescission window; use contractual contingencies and legal remedies.
Source: Pennsylvania 68 Pa.C.S. Chapter 73: seller disclosures (reviewed 2026-09-27)
- Loan and appraisal
- Loan contingency: 30 days (set in the contract).
Details
30-day financing period and the typical closing time are sample planning assumptions, not measured averages or legal rights. Financing and appraisal protection require the signed form/addenda; an appraisal shortfall is not automatically protected.
- Title insurance
- The buyer customarily pays for the owner's policy.
Details
Payer is a negotiable local custom, not a mandatory charge; obtain a title quote and follow the signed allocation. Filed insurer/rating-bureau rates are not a state-promulgated price. A simultaneous loan policy may be included or discounted under the filed rate; avoid charging two full premiums.
- Property tax for a new owner
- Your property tax follows the county's assessed market value. About 1.4% of the price a year is our planning figure for Philadelphia; your bill can differ.
Details
Use the assessor's current taxable value, assessment ratio and parcel tax district. Price is only a planning proxy; exemptions, revaluations, credits and special assessments are not inherited automatically.
Published City+School rate0.6159%+0.7839%=1.3998% of OPA assessment; city page labels this 2025, still displayed when reviewed 2026-09-27. No automatic purchase-price reassessment claim. Homestead exemption/abatement not assumed; new buyer must verify eligibility and expiration. HOA range and lender-title percentage are SAMPLE inputs.
- Agent credits to the buyer
- Pennsylvania allows an agent to credit part of their pay to the buyer, with the lender's approval.
Details
RELRA §604(a)(19) bars undisclosed rebates; document the transaction-party credit, broker approval and lender/closing disclosure. Not payment for unlicensed services.
Source: Pennsylvania RELRA §604(a)(19): undisclosed rebates prohibited (reviewed 2026-09-27)
Closing taxes
| Tax | Customarily paid by | Rate |
|---|---|---|
| Pennsylvania realty transfer tax | Split 50/50 | 1% of the pricePennsylvania Department of Revenue: realty transfer tax |
| Philadelphia city realty transfer tax | Split 50/50 | 3.578% of the pricePhiladelphia Revenue: city realty transfer rate increased to 3.578% |
Sources (8)
- Pennsylvania 68 Pa.C.S. Chapter 73: seller disclosures · reviewed 2026-09-27 (opens in a new tab)
- Pennsylvania RELRA §604(a)(19): undisclosed rebates prohibited · reviewed 2026-09-27 (opens in a new tab)
- Pennsylvania Department of Revenue: realty transfer tax · reviewed 2026-09-27 (opens in a new tab)
- FHFA 2026 county conforming limits, one unit · 2026 calendar year (opens in a new tab)
- NAIC homeowners report: selected HO-3 $300k–399,999 and HO-6 facts · 2023 data; published July 2026 (opens in a new tab)
- Census CHARS: contractor-built house contract price per square foot, excluding land · 2025 annual regional averages (opens in a new tab)
- Philadelphia Revenue: city realty transfer rate increased to 3.578% · effective 2025-07-01 (opens in a new tab)
- Philadelphia Revenue: real estate tax · 2025 published rate; reviewed 2026-09-27 (opens in a new tab)
Programs and deadlines
Official pages for Philadelphia, the same for every buyer. Each program decides who qualifies.
- Down-payment help
- Keystone Advantage Assistance Loan (opens in a new tab) (Pennsylvania Housing Finance Agency (PHFA))A second mortgage for purchase costs: up to 4% of the price or market value, or $6,000, whichever is less.Official page, checked 2026-09-28.Pennsylvania's housing finance agency runs it; the program decides who qualifies and for how much.
- Down-payment help in Philadelphia
- Philly First Home Program (opens in a new tab) (City of Philadelphia)Helps first-time homebuyers with a down payment or closing costs.Official page, checked 2026-09-28.
- Homestead exemption
- Get the Homestead Exemption (opens in a new tab) (City of Philadelphia)Reduces the assessed value of a property you own and live in by $100,000; once approved, you don't reapply unless the deed changes.Deadline: December 1 (October 1 to see it on the next bill)Official page, checked 2026-09-28.
- If you disagree with your assessment
- Appeal forms and instructions (opens in a new tab) (Philadelphia Board of Revision of Taxes)Market value appeals go to the Board of Revision of Taxes.When: October 5, 2026 for a 2027 market value appeal (the 2026 window has closed; it opens again next year)Official page, checked 2026-09-28.
- After you buy: alerts on your deed
- Deed Fraud Guard (opens in a new tab) (Philadelphia Department of Records)Register for free and get an email when a document is recorded with your name, so you can review it.Official page, checked 2026-09-28.
Sample homes in Philadelphia, each with its estimated monthly cost and the things to check. Found one somewhere else? Check it here.
Sources (33)
- FHFA House Price Index, five-digit ZIP codes, annual (developmental, all-transactions) · 2000–2025 (updated 2026-03-31) (opens in a new tab)
- FHFA House Price Index, purchase-only, not seasonally adjusted, quarterly: Philadelphia, PA (MSAD) (metropolitan division 37964) · 2000 Q1–2026 Q2 (opens in a new tab)
- U.S. Census Bureau, American Community Survey 5-year estimates (ZCTA), with 90% margins of error: population, median household income, median home value, median gross rent, median real estate taxes paid, median monthly owner costs with a mortgage, owner-occupied share and units, owner homes in buildings with 5+ units, median year built · ACS 2020–2024 (opens in a new tab)
- U.S. Census Bureau, American Community Survey 5-year estimates (ZCTA): population and its margin of error, for the 5-year change and its significance test · ACS 2015–2019 (opens in a new tab)
- FHFA House Price Index, five-digit ZIP codes, annual (developmental, all-transactions) · 2025 (updated 2026-03-31) (opens in a new tab)
- U.S. Census Bureau, 2020 ZCTA to place relationship file, 2025 Gazetteer and cartographic boundaries (city ZIPs, centers, bounds) · 2020 ZCTAs; 2025 place boundaries (opens in a new tab)
- U.S. Census Bureau, Population Estimates, Vintage 2025 (metropolitan and micropolitan areas) · July 2020 → July 2025 (opens in a new tab)
- U.S. Census Bureau, Building Permits Survey: new privately-owned housing units authorized, by CBSA · Sep 2025–Aug 2026 (opens in a new tab)
- FEMA National Risk Index December 2025: Expected Annual Loss rating of each hazard, by county · NRI December 2025 (opens in a new tab)
- U.S. Department of Housing and Urban Development, Small Area Fair Market Rents by ZIP code, FY2027 · FY2027 (from Oct 1, 2026) (opens in a new tab)
- FEMA, OpenFEMA API: NFIP Redacted Policies, version 3 (policies in force). This product uses the Federal Emergency Management Agency’s OpenFEMA API, but is not endorsed by FEMA. The Federal Government or FEMA cannot vouch for the data or analyses derived from these data after the data have been retrieved from the Agency's website(s). · in force Jun 30, 2026; data refreshed 2026-07-27; accessed 2026-09-27 (opens in a new tab)
- FEMA, OpenFEMA API: NFIP Redacted Claims, version 3 (claims since 2000). This product uses the Federal Emergency Management Agency’s OpenFEMA API, but is not endorsed by FEMA. The Federal Government or FEMA cannot vouch for the data or analyses derived from these data after the data have been retrieved from the Agency's website(s). · data refreshed 2026-08-04; accessed 2026-09-27 (opens in a new tab)
- U.S. Treasury, Federal Insurance Office: Analyses of U.S. Homeowners Insurance Markets, 2018–2022, Supporting Underlying Metrics by ZIP code (premiums per policy, nonrenewal rate) · 2018–2022 (published January 2025) (opens in a new tab)
- FHFA House Price Index, purchase-only, not seasonally adjusted: Philadelphia, PA (MSAD) (metropolitan division 37964) · 2026 Q2 (opens in a new tab)
- FHFA House Price Index, all-transactions, not seasonally adjusted: Philadelphia, PA (MSAD) (metropolitan division 37964), calendar-year averages of the quarterly index · 2020–2025 (opens in a new tab)
- U.S. Bureau of Labor Statistics, Current Employment Statistics, total nonfarm, not seasonally adjusted (series SMU42379800000000001) · Aug 2026 (preliminary) (opens in a new tab)
- U.S. Census Bureau, American Community Survey 5-year estimates for the city of Philadelphia, PA (Census place 4260000): median home value, median household income, median gross rent, with 90% margins of error · ACS 2020–2024 (opens in a new tab)
- FFIEC Home Mortgage Disclosure Act (HMDA) data: 2025 Snapshot National Loan-Level Dataset (data as of June 1, 2026), via the CFPB HMDA Data Browser; Homiy's calculations · 2025 loans; retrieved 2026-09-27 (opens in a new tab)
- U.S. Department of Housing and Urban Development, FHA forward mortgage limits, one-unit limit for Philadelphia County, PA · CY2026 (Mortgagee Letter 2025-23) (opens in a new tab)
- FTA National Transit Database, General Transit Feed Specification Weblinks: the public-domain GTFS feeds agencies must publish · retrieved 2026-09-27 (opens in a new tab)
- Port Authority Transit Corporation: GTFS schedule · scheduled service 2026-09-27 to 2026-10-24 (opens in a new tab)
- New Jersey Transit Corporation: GTFS schedule · scheduled service 2026-09-27 to 2026-10-24 (opens in a new tab)
- Southeastern Pennsylvania Transportation Authority: GTFS schedule · scheduled service 2026-09-27 to 2026-10-24 (opens in a new tab)
- Southeastern Pennsylvania Transportation Authority: GTFS schedule · scheduled service 2026-09-27 to 2026-10-24 (opens in a new tab)
- Pennsylvania 68 Pa.C.S. Chapter 73: seller disclosures · reviewed 2026-09-27 (opens in a new tab)
- Pennsylvania RELRA §604(a)(19): undisclosed rebates prohibited · reviewed 2026-09-27 (opens in a new tab)
- Pennsylvania Department of Revenue: realty transfer tax · reviewed 2026-09-27 (opens in a new tab)
- FHFA 2026 county conforming limits, one unit · 2026 calendar year (opens in a new tab)
- NAIC homeowners report: selected HO-3 $300k–399,999 and HO-6 facts · 2023 data; published July 2026 (opens in a new tab)
- Census CHARS: contractor-built house contract price per square foot, excluding land · 2025 annual regional averages (opens in a new tab)
- Philadelphia Revenue: city realty transfer rate increased to 3.578% · effective 2025-07-01 (opens in a new tab)
- Philadelphia Revenue: real estate tax · 2025 published rate; reviewed 2026-09-27 (opens in a new tab)
- Freddie Mac average (Primary Mortgage Market Survey) · Sep 24, 2026 (opens in a new tab)