According to the Center City District’s annual report, Center City’s population and housing construction have far outpaced the rest of the City. 2023 saw a record number of new homes in the area.
Let’s look at the supporting evidence:
- Greater Center City runs from Girard Avenue to Tasker Street between the Schuylkill and Delaware Rivers.
- More housing units (about 2,840) were completed in Greater Center City in 2023 than in the last five years combined. Another 7,181 housing units are in the pipeline.
- From 2011 to 2022, Greater Center City’s district population grew by 26% and the housing units grew by 24%. Compare this to Philadelphia as a whole which experienced a 9% growth in number of homes and a population growth of 5%.
- More than 200,000 people live in Greater Center City. Over the last decade, residents of Greater Center City have gotten younger; today 40% are 22 to 34 years old; more than 80% of the residents have a college degree; and the median household income is close to $97,000.
- Many factors contribute to Center City’s success story: it attracts young professionals who have either graduated from local colleges or have relocated; the housing stock and lifestyle is affordable; and there is a healthy balance of those who live in the City and work in the City.
- These positives help to create a solid economic picture; more people and more foot traffic increase economic activity and assure a safer, secure environment.
Prima Katari Gupta, Center City District’s CEO, sums it up by saying, “I think Center City will continue to be the place that makes sense for folks who want a great urban, multifamily experience, whether they are at the beginning of their careers or they’re empty nesters.”
