Rent to Own Homes in Philadelphia, PA: Everything You Need to Know
Philadelphia, the City of Brotherly Love, has a long and rich American history and is a draw for hundreds of thousands of visitors each year. The backdrop for the 1976 classic film “Rocky,” the city is recognizable to millions for many of her key landmarks. Founded by William Penn in 1682, the city is one of the nation’s oldest municipalities. It is also the most populous area in the state of Pennsylvania, with nearly 1.9 million residents of diverse backgrounds.
Philadelphia Real Estate: Housing Availability
Homes in Philadelphia have a median price of $153,400 and, over the past decade, have been consistently appreciating. In that time, prices have gone up 7.8%, making home purchases a good idea for individuals and investors. Rental units have also gone up, with an average rental price of $1,614.
Some of the suburbs outside of the city center have new construction developments with houses ranging from brand new to less than a decade in age. Other communities offer the charm and historic value that can be found only in older homes. Many of these have been restored, upgraded, and updated to give owners the best of both worlds. The key is to find the community with the ‘flavor’ that you desire, and that is within your budget. From there, your home search can begin.
A Shopper’s Paradise
Philly and the nearby areas are a shopper’s paradise. For those willing to travel, King of Prussia Mall is located about 20 miles outside of the city. It is a veritable playground of luxury and ready to wear name brand shops in one of the largest malls in America. For those wanting to stay closer to home, 2019 saw the conversion of the Galleria Mall into the new Fashion District Philadelphia Mall. Outlet shoppers can make a day of it at Philadelphia Mills Mall, where the only thing bigger than the options are the savings.
Arguably, one of the best things about shopping in Philly is the boutique shopping in many neighborhoods. From antiquing to craft shopping to clothing shopping for that special, one-of-a-kind item, there’s a neighborhood and a shop for that. If you are relocating to Philly, spend some time getting to know the various shopping neighborhoods to find your favorite coffee shop, clothing store, home décor spot, and more.
The Local Teams
Philadelphia is home to five major league teams with a die-hard fan base. Whether you are a fan of soccer, hockey, baseball, basketball, or football, you will have a team to call your own. The Philadelphia Flyers (NHL), Phillies (MLB), 76’ers (NBA), Union (MLS), and Eagles (NFL) are all beloved teams that have devoted fans right in the City of Brotherly Love.
The climate in Philadelphia is characterized by hot, humid summers and cold, potentially snowy winters. As a northeastern city, the area is characterized by four distinct seasons, giving residents and visitors variety and the beauty of each season.
Getting Around the City
Philadelphians love to walk around their city. There is no better way to take in Philly’s history, sites, and ‘flavor.’ Getting around by bicycle is another popular trend, enabling riders to move swiftly through the traffic of the city.
Drivers in and around Philadelphia will find a fair amount of city traffic and congestion throughout the network of parkways and roads. For those without a personal car, Philadelphia offers a public transit system that is consistently ranked in the top 10 of the United States. The Southeastern Pennsylvania Transit Authority (SEPTA) offers bus and train service throughout the city as well as ‘old-school’ trolleys. New passes and upgraded technology have made the entire system more efficient in moving nearly 40,000 people throughout the city each day.