The real estate market in Philadelphia appears to be booming in the current years; this might be the best opportunity to invest in Philadelphia suburbs real estate. These Philadelphia suburbs real estate stats and trends will be the keynote for investors in Pennsylvania.
- Kiplinger Personal Finance ranks Philly as one of the most affordable places in the U.S. to buy a house, even when the percentage of renters keeps growing.
- Philadelphia and the suburbs are driving population growth in the state, attracting new out-of-state residents and relocation from other parts of Pennsylvania. Over the past decade, Philly's population increased by 5%, while the suburban counties of Montgomery and Chester each grew by about 7%.
- Philadelphia's economy is showing signs of recovery, with industries such as the life sciences and Center City District driving economic growth.
- Investors focused on workforce housing rental properties may consider Philadelphia the right match. According to recent research by The Pew Charitable Trusts, housing prices and rents in Philly have historically been lower than in other large cities.
- But over the years, prices have been rising, and more people have decided to rent rather than own. More than a third of renters surveyed by Pew say that renting in Philadelphia is more affordable than ownership, with less hassle and stress.
- According to an article on Auctions.com, Philadelphia is a real estate investor's dream destination. As noted in the report, Philly's strong and diverse economy, stable job market, and population growth are many reasons to invest in the City of Brotherly Love.
Are you willing to start investing in Philly real estate? Contact Victory Real Estate LLC and start to look for your desired property trustfully.