The housing market in Philadelphia, NY is doing quite well compared to the national average. The median value of a house in the area is $194,500 which is significantly lower than the national median value of $338,100. Additionally, while the US saw an 8.27% increase in house appreciation over the last year, houses in Philadelphia, NY appreciated by 9.27%, indicating a stronger market growth rate for this area. This shows that investment in real estate property in Philadelphia, NY can be quite lucrative and should be considered by potential buyers looking for attractive returns on their investments.
The median home cost in Philadelphia is $194,500. Home appreciation the last 10 years has been 30.9%. Home Appreciation in Philadelphia is up 11.4%.
Average Age of Homes
- The median age of Philadelphia real estate is 43 years old
The Rental Market in Philadelphia
- Renters make up 47.7% of the Philadelphia population
- 6.4% of houses and apartments in Philadelphia, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.