{"id":59588,"date":"2018-11-12T01:53:58","date_gmt":"2018-11-12T09:53:58","guid":{"rendered":"https:\/\/www.rentcafe.com\/blog\/?p=59588"},"modified":"2026-04-21T01:19:37","modified_gmt":"2026-04-21T08:19:37","slug":"renters-vs-owners-philadelphia","status":"publish","type":"post","link":"https:\/\/www.rentcafe.com\/blog\/rental-market\/renters-vs-owners-philadelphia\/","title":{"rendered":"Ownership Is Losing Its Appeal, Despite Being Preferred by Most Philadelphians"},"content":{"rendered":"<p>The answer to the never-ending question about renting or owning is quite clear if we look at the big picture. <a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/change-renter-vs-owner-population-2006-2016\/\">Almost a quarter of the 100 largest U.S. cities changed from majority homeowners to majority renters<\/a> between 2006 and 2016. There&#8217;s no denying that the dream of owning a home is still something\u00a0many Americans have on their minds but after the\u00a0housing crisis of 2007, most of them think twice before taking on a mortgage.<\/p>\n<p>According to U.S. Census, between 2000 and 2016, The City of Brotherly Love added about 3% more people to its population and reached a homeowner-to-renter ratio of 55%-45%. This is remarkably different than the 63%-37% from 2000 and what the numbers show is that the balance has swiftly changed in favor of renting \u2013 despite the city being currently dominated by homeowners.<\/p>\n<h3><strong>Philadelphia\u2019s neighborhoods are mostly homeowners\u2019 territory, but renters are coming in strong<\/strong><\/h3>\n<p>Renting is the popular choice nowadays, but the data shows that Philadelphia\u2019s neighborhoods are occupied mainly by homeowners. To find out more about this, we looked at the renter- and owner-occupied households within the city\u2019s boundaries and the trend is quite interesting. While homeowners have settled around Philly\u2019s limits, renters are predominantly clustered in central areas with just a few majority-renter neighborhoods scattered on the city\u2019s outskirts.<\/p>\n<p><em>Tap or hover your mouse over an area to see its renter-owner ratio recorded in 2016. Areas marked with orange have more than 50% of their populations living in rental homes. The neighborhoods marked with blue are owner-dominated.<\/em><\/p>\n<div id=\"viz1539252924814\" class=\"tableauPlaceholder\" style=\"position: relative;\"><noscript><a href='#'><img alt='Dashboard 1 ' src='https:&#47;&#47;public.tableau.com&#47;static&#47;images&#47;Ph&#47;Philadelphia_2&#47;Dashboard1&#47;1_rss.png' style='border: none' \/><\/a><\/noscript><object class=\"tableauViz\" style=\"display: none;\" width=\"300\" height=\"150\"><param name=\"host_url\" value=\"https%3A%2F%2Fpublic.tableau.com%2F\" \/><param name=\"embed_code_version\" value=\"3\" \/><param name=\"site_root\" value=\"\" \/><param name=\"name\" value=\"Philadelphia_2\/Dashboard1\" \/><param name=\"tabs\" value=\"no\" \/><param name=\"toolbar\" value=\"yes\" \/><param name=\"static_image\" value=\"https:\/\/public.tableau.com\/static\/images\/Ph\/Philadelphia_2\/Dashboard1\/1.png\" \/><param name=\"animate_transition\" value=\"yes\" \/><param name=\"display_static_image\" value=\"yes\" \/><param name=\"display_spinner\" value=\"yes\" \/><param name=\"display_overlay\" value=\"yes\" \/><param name=\"display_count\" value=\"yes\" \/><param name=\"filter\" value=\"publish=yes\" \/><\/object><\/div>\n<p><script type='text\/javascript'>                    var divElement = document.getElementById('viz1539252924814');                    var vizElement = divElement.getElementsByTagName('object')[0];                    vizElement.style.minWidth='420px';vizElement.style.maxWidth='850px';vizElement.style.width='100%';vizElement.style.minHeight='587px';vizElement.style.maxHeight='887px';vizElement.style.height=(divElement.offsetWidth*0.75)+'px';                    var scriptElement = document.createElement('script');                    scriptElement.src = 'https:\/\/public.tableau.com\/javascripts\/api\/viz_v1.js';                    vizElement.parentNode.insertBefore(scriptElement, vizElement);                <\/script><\/p>\n<h3><strong>Rhawnhurst is the popular choice for most new renters<\/strong><\/h3>\n<p>Renting is making a comeback in Philadelphia\u2019s neighborhoods. Given the recession, the number of homeowners has drastically reduced by 10% between 2000 and 2016 while that of renters has seen a 26% increase. The best way to exemplify this is by looking at the area comprising <strong>Rhawnhurst<\/strong>, <strong>Castor Gardens,<\/strong> and <strong>Mayfair.<\/strong> The neighborhoods added 4,171 new renters during the 16-year period, more than any other Philly neighborhood. Despite the increase of 198% in the total number of renters, the area has remained owner-dominated. The score, however, is tight with the homeowner-to-renter ratio being 52%-48%. If the area continues to add new renters, the balance will probably shift in favor of renters.<\/p>\n<p>Other neighborhoods that added more than 2,500 new renters since 2000 include <strong>Kensington,\u00a0<\/strong><strong>Harrowgate <\/strong>and<strong>\u00a0Castor Gardens, Mayfair<\/strong>. At the moment, Philadelphia boasts fairly pricey rents, with residents paying $1,547 per month for\u00a0an apartment which is slightly less affordable than the average mortgage.<\/p>\n\n<table id=\"tablepress-239\" class=\"tablepress tablepress-id-239\">\n<thead>\n<tr class=\"row-1\">\n\t<th class=\"column-1\">Area<\/th><th class=\"column-2\">2000 Renter Population<\/th><th class=\"column-3\">2016 Renter Population<\/th><th class=\"column-4\">Renter Population Change<\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-2\">\n\t<td class=\"column-1\">Rhawnhurst, Castor Gardens, Mayfair<\/td><td class=\"column-2\">2,108<\/td><td class=\"column-3\">6,279<\/td><td class=\"column-4\">4,171<\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\">Kensington, Harrowgate<\/td><td class=\"column-2\">2,808<\/td><td class=\"column-3\">5,792<\/td><td class=\"column-4\">2,984<\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\">Castor Gardens, Mayfair<\/td><td class=\"column-2\">1,738<\/td><td class=\"column-3\">4,315<\/td><td class=\"column-4\">2,577<\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\">Olde Richmond, Kensington<\/td><td class=\"column-2\">1,887<\/td><td class=\"column-3\">4,326<\/td><td class=\"column-4\">2,439<\/td>\n<\/tr>\n<tr class=\"row-6\">\n\t<td class=\"column-1\">Frankford, Juniata Park, Kensington<\/td><td class=\"column-2\">1,819<\/td><td class=\"column-3\">4,206<\/td><td class=\"column-4\">2,387<\/td>\n<\/tr>\n<tr class=\"row-7\">\n\t<td class=\"column-1\">Lawndale, Summerdale, Lawncrest<\/td><td class=\"column-2\">2,175<\/td><td class=\"column-3\">4,491<\/td><td class=\"column-4\">2,316<\/td>\n<\/tr>\n<tr class=\"row-8\">\n\t<td class=\"column-1\">Whitman, Lower Moyamensing<\/td><td class=\"column-2\">2,627<\/td><td class=\"column-3\">4,860<\/td><td class=\"column-4\">2,233<\/td>\n<\/tr>\n<tr class=\"row-9\">\n\t<td class=\"column-1\">Kensington<\/td><td class=\"column-2\">2,410<\/td><td class=\"column-3\">4,622<\/td><td class=\"column-4\">2,212<\/td>\n<\/tr>\n<tr class=\"row-10\">\n\t<td class=\"column-1\">Mayfair, Tacony, Wissinoming<\/td><td class=\"column-2\">701<\/td><td class=\"column-3\">2,801<\/td><td class=\"column-4\">2,100<\/td>\n<\/tr>\n<tr class=\"row-11\">\n\t<td class=\"column-1\">Frankford, Northwood<\/td><td class=\"column-2\">1,458<\/td><td class=\"column-3\">3,401<\/td><td class=\"column-4\">1,943<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n<h3><strong>Renters took over 54 neighborhoods since the turn of the millennium<\/strong><\/h3>\n<p>It\u2019s worth pointing out that no less than 54 tracts shifted from being owner-dominated to renter-dominated since 2000 while the number of neighborhoods flipping to owner-dominated is significantly lower. The most prominent area to add more renters than owners is the northern part of Philly, covering some populous neighborhoods like <strong>Fishtown, Kensington, Harrowgate, Fairhill <\/strong>and<strong> West Kensington<\/strong>.<\/p>\n<p>Having caught up with demand, the Philadelphia real estate market is a haven for Millennials and Baby Boomers attracted by the lure of jobs that the city has to offer. Taking this into consideration, it\u2019s easy to see why rent prices here have followed a fast-ascending trend, with <a href=\"https:\/\/www.rentcafe.com\/average-rent-market-trends\/us\/pa\/philadelphia\/\">rents increasing by 2%<\/a>\u00a0compared to last year.<\/p>\n<h6><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-59790\" src=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2018\/05\/Map_Philadelphia-rents-vs-buy.png\" alt=\"\" width=\"900\" height=\"1180\" srcset=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2018\/05\/Map_Philadelphia-rents-vs-buy.png 900w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2018\/05\/Map_Philadelphia-rents-vs-buy.png?resize=381,500 381w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2018\/05\/Map_Philadelphia-rents-vs-buy.png?resize=768,1007 768w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2018\/05\/Map_Philadelphia-rents-vs-buy.png?resize=781,1024 781w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2018\/05\/Map_Philadelphia-rents-vs-buy.png?resize=150,197 150w\" sizes=\"auto, (max-width: 900px) 100vw, 900px\" \/><\/h6>\n<p>On the other hand, only 7 neighborhoods flipped to being owner-dominated since 2000 and they are clustered mostly around the west part of Philadelphia. These western neighborhoods where owners outnumbered renters include <strong>Cecil B Moore<\/strong>, <strong>Sharswood<\/strong>, <strong>North Central<\/strong> and parts of <strong>Wissahickon Park<\/strong> or <strong>Germantown<\/strong>, <strong>West Mount Airy<\/strong>. It doesn\u2019t stop here as owners also took hold of some parts of the south with neighborhoods like <strong>Northern Liberties, Old City<\/strong> or <strong>Southwest Center City, Rittenhouse Square<\/strong> flipping to being owner-dominated. Other areas claimed by homeowners are the neighborhoods of <strong>Southwest Center City<\/strong> and <strong>Bella Vista, Hawthorne<\/strong>.<\/p>\n<h3><em>Methodology \u2014 Who is RentCafe and How Did We Compile the Data?<\/em><\/h3>\n<ul>\n<li><em>RentCafe is a nationwide apartment search website that enables renters to easily find apartments and houses for rent throughout the United States.<\/em><\/li>\n<li><em>The population data used in this research was provided by the U.S. Census Bureau\u2019s public databases (Population in Occupied Housing Units by Tenure).<\/em><\/li>\n<li><em>In our study we have compared the number of people living in renter- and owner-occupied units in 2000 and 2016 in census tracts inside Philadelphia\u2019s city borders.<\/em><\/li>\n<li><em>The population changes have been calculated using data from Census 2000 and the 2016 ACS Five-Year Estimates.<\/em><\/li>\n<li><em>We used the 2000 and 2016 census tract Shape Files from Census Tiger Files to create the polygons for the interactive map. In order to counteract changes in the Census Bureau\u2019s tracking methods during this period and obtain a comparable partitioning, we combined data from certain census tracts as needed.<\/em><\/li>\n<li><em>The polygons along the perimeter have been cropped to match the city boundaries. In these cases, we analyzed partial data (fraction of the total, proportional to the surface area inside the city boundaries).<\/em><\/li>\n<\/ul>\n<div class=\"usagerights\">\n<div class=\"fairuse\">\n<h3>Fair use and redistribution<\/h3>\n<p>We encourage you and freely grant you permission to reuse, host, or repost the images in this article. When doing so, we only ask that you kindly attribute the authors by linking to <a href=\"https:\/\/www.rentcafe.com\">RentCafe.com<\/a> or this page, so that your readers can learn more about this project, the research behind it and its methodology.<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The answer to the never-ending question about renting or owning is quite clear if we look at the big picture. Almost a quarter of the 100 largest U.S. cities changed from majority homeowners to majority renters between 2006 and 2016. There&#8217;s no denying that the dream of owning a home is still something\u00a0many Americans have&hellip;<\/p>\n","protected":false},"author":55,"featured_media":59789,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3659],"tags":[],"class_list":["post-59588","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rental-market","gallery-content-unit"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Renters Versus Owners (Philadelphia)<\/title>\n<meta name=\"description\" content=\"Renting is the popular choice nowadays, but the data shows that Philadelphia\u2019s neighborhoods are occupied mainly by homeowners. Here&#039;s what we found out.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/renters-vs-owners-philadelphia\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ownership Is Losing Its Appeal, Despite Being Preferred by Most Philadelphians\" \/>\n<meta property=\"og:description\" content=\"Renting is the popular choice nowadays, but the data shows that Philadelphia\u2019s neighborhoods are occupied mainly by homeowners. 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