Philadelphia is the Fourth Most Undervalued City in America
In 2019, Philadelphia ranked as the fourth most undervalued city in America. What does that mean exactly? In short, that it is a bargain to live (or invest) here.
According to the SmartAsset report, Homebuyers in Philadelphia can purchase homes at around $117.17 per square foot. “Based on our overall model, living in Philadelphia is equivalent to living in a city where homes are worth $264.77 per square foot, which means the city is undervalued by more than $147.”
Researchers developed a model to estimate a city's home value per square foot based on livability. They looked at crime, weather, walkability, and unemployment. Philadelphia had the second-highest walkability score in the top 10 and the sixth-highest in the study overall.