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; the more people and the more foot traffic increases economic activity and assures 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.”
