Philadelphia has been the home of many high Return on Equity investments. over the years the real estate market has been steadily increasing. Ever since the 2008 real-estate crash Philadelphia has been quick to recover and has been steadily growing over the years. Not only that, due to new Landlord/ tenant laws that have been put in gear in the recent years the quality of living has increased. this means a higher median household income as well as a higher quality of renovations that are being implemented into each house. Philadelphia as a whole has been progressive in trying to improve the quality of life for both landlords and tenants.
On average the housing market in Philadelphia has grown about 5% a year, which can affect investors ROE, however that is not the case because a more stable workforce has now migrated into these spots and people can now afford to live with a 5% increase of property value. the increase of property value is good for investors because most of the previous owners have bought the property for an amount that is well under the market value, therefore with some negotiation both the old landlord and the new landlord can compromise with an deal that can benefit both parties.
Not only is the Philadelphia real estate market affordable, it also offers people to enter into the marketplace. Philadelphia is one of the few cities that have an affordable investment property price. Residential areas are seeing a lot of activities, and not only that the demand for a rental property is high. therefore, Philadelphia is a great place to start a real estate journey.