Philadelphia, NY

Philadelphia, New York is a city of neighborhoods. Each neighborhood has its own character and personality. Philadelphia is known for its history, architecture, and food. Real estate in Philadelphia is diverse and offers a variety of options for buyers and renters.

The city's most popular neighborhoods are Center City, Old City, South Philly, North Philly, West Philly, and East Falls. Center City is the heart of the city and contains many of the city's most popular attractions including the Philadelphia Museum of Art (PMA), Independence Hall, and the Reading Terminal Market. Old City is home to Independence National Historical Park as well as many historic buildings including The Liberty Bell. South Philly is known for its Italian heritage and contains some of Philadelphia's oldest neighborhoods such as Italian Market Square and South Street Seaport. North Philly is home to Temple University as well as many high-rise apartments and condos. West Philly contains many working-class neighborhoods such as Wynnefield Heights and Hunting Park while East Falls features a mix of middle-class families along with some trendy areas such as Fishtown.

The real estate market in Philadelphia fluctuates depending on the location but generally offers good value for buyers compared to other major cities in the U.S.. The average price per square foot in Center City was $269 in 2017 while Old City averaged $220 per square foot according to data from Zillow . In comparison, prices in Manhattan were $1,086 per square foot on average while prices in San Francisco were $1,545 per square foot according to Zillow . Prices also vary depending on location within each neighborhood; West Philadelphia averages $130 per square foot while East Falls averages just over $200 per square foot according to data from StreetEasy . Despite these variations however , overall prices remain relatively affordable when compared to other large cities across America .

There are a number of factors that contribute to this affordability including limited inventory availability due to stringent zoning laws that restrict development near historical landmarks , strong demand from both locals and tourists , low interest rates ,and moderate income levels relative to other major U.S.. cities There are also a number of benefits associated with living in Philadelphia including access to world-renowned universities such as Penn State University (PSU) which are located throughout the city , excellent public transportation options ,and an active nightlife scene with plenty of bars , restaurants , nightclubs ,and theaters available nearby . Overall though it can be difficult for first time buyers or those without significant financial resources due to high housing costs relativeto incomes earned within the city limits