By comparison, Philadelphia is projected to approve building permits for 1,210 single-family homes by the end of 2026, according to the data from Drexel. That would be in line with the yearend totals in 2024 and 2025.\n<\/p>\n
Despite the rise of multifamily building permits<\/a>, Philadelphia remains a city of homeowners. For now, just under half \u2014 about 48% \u2014 of Philadelphia\u2019s residents are renters<\/a>.\n<\/p>\n And yet the Drexel data does feed into broader concerns that the city may be losing that identity, especially as home values continue to rise in lower-income neighborhoods where residents may be more vulnerable to displacement.\n<\/p>\n \u201cSometimes those prices were low because it included a lot of homes that were unlivable, unmortgageable,\u201d said Emily Dowdall, president of policy solutions at the Reinvestment Fund. \u201cHowever, it does mean that there might be fewer opportunities for lower-income folks to buy.\u201d\n <\/p>\n Additionally, forthcoming research shows that fewer Philadelphia households are applying for mortgage loans, Dowdall said. Part of that may be rooted in renters having a much harder time affording homeownership. There is also anecdotal evidence that more renters are questioning whether they want to ever buy a house, even if they can afford to. That\u2019s particularly true for individual households who may not want to maintain an entire house on their own.\n<\/p>\n \u201cWe\u2019ve got a very diverse population here in Philly just in terms of household makeup and desire. And so I think it\u2019s important that we have different types of choices available,\u201d Dowdall said.\n <\/p>\n","protected":false},"excerpt":{"rendered":"By comparison, Philadelphia is projected to approve building permits for 1,210 single-family homes by the end of 2026,…\n","protected":false},"author":2,"featured_media":282897,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[7991,30772,69,71,70,2312,7609],"class_list":["post-282896","post","type-post","status-publish","format-standard","has-post-thumbnail","category-philadelphia","tag-apartment-buildings","tag-homeownership","tag-philadelphia","tag-philadelphia-headlines","tag-philadelphia-news","tag-planphilly","tag-rentals"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/posts\/282896","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/comments?post=282896"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/posts\/282896\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/media\/282897"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/media?parent=282896"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/categories?post=282896"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/tags?post=282896"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}