Philadelphia, Pennsylvania
Why invest in Philadelphia?
Philadelphia is a large, mature market with a diversified economy and solid long-term fundamentals. The city is an educational and medical powerhouse – “three in ten Philadelphians” work in education, health or social services – and it houses dozens of universities, hospitals and research institutions. Corporate headquarters (Comcast, AmerisourceBergen, Urban Outfitters) and major sites of financial and government services (Federal Reserve, PECO energy) add further stability. Cultural attractions and historical tourism also support the local economy.
Philadelphia:
An Overview
Philadelphia’s cost of living is ~5–10% below the national average, and Pennsylvania’s low property taxes (no tax on retirement income) help affordability.
Economic Powerhouses: What Drives Philadelphia Forward
Philadelphia’s economy is anchored by education and healthcare. Major employers include University of Pennsylvania, Temple University and their hospitals (Penn Medicine, Temple Health). Financial services and corporate headquarters (e.g. Comcast, AmerisourceBergen, Vanguard) are also prominent. The Port of Philadelphia and a major international airport support logistics and manufacturing (chemicals, pharmaceuticals). In recent years, tech startups and venture capital have grown in areas like Old City and University City, adding a small but rising sector. The metro’s large talent pool (from dozens of universities) and diversified industry base help sustain long-term job and population growth.
Everyday Magic:
Inside the Culture of Philadelphia
As the birthplace of American democracy, Philadelphia offers world-class historic and cultural attractions. Independence Hall in Old City is a UNESCO World Heritage Site where the Declaration of Independence and Constitution were signed. Nearby stands the Liberty Bell and the National Constitution Center. The Delaware River waterfront and historic districts feature colonial-era streets and the famed Reading Terminal Market (one of the nation’s oldest farmers’ markets).
Art and culture abound: the Philadelphia Museum of Art (with its “Rocky steps”), the Barnes Foundation, the Franklin Institute science museum, and the Pennsylvania Academy of the Fine Arts are major draws. “City of Murals” celebrates street art, and performing arts are strong (Mann Center, Kimmel Center, Opera). Cuisine is iconic – Philadelphia is famous for cheesesteaks, hoagies, soft pretzels and water ice. Annual events include the New Year’s Mummers Parade, the Thanksgiving Eagle’s football game, and cultural festivals like Odunde (street festival) and the Rittenhouse Square arts festival. Philadelphia’s mix of history, education, sports and a growing tech scene make it a perennial destination for renters and homebuyers alike.
