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What Are The 10 Richest Neighborhoods In Philadelphia, PA?
If you are looking for a place amongst the rich, Philadelphia may have the right home for you. We all save up to one day own a home in a wealthy and safe neighborhood. Believe it or not, Philadelphia has a few homes for sale in some of the richest neighborhoods you have ever seen. If you’re curious to start house hunting but don’t know where to look, this list can help you.
The cost of living may be high, but the houses are worth it in places like City Center East, City Center West, and Chestnut Hill. These are some of Philly’s richest areas, and they are closely followed by Riverfront, Fairmount-Spring Garden, and Schuylkill Southwest.
You won’t be disappointed with what each area offers; each is unique, with phenomenal houses for sale or for rent. You will find most of these neighborhoods are safe and perfect places to raise a family if you can afford them. These neighborhoods are not for those on a budget; they are for those who want to live luxuriously.
Table of Contents
What Are The Richest Neighborhoods
We looked at the household income, the median home value, and the rent in the area for each of these neighborhoods. Most of these neighborhoods are for the extremely wealthy, and it shows in their stats.
- City Center East
- City Center West
- Chestnut Hill
- Fairmount-Spring Garden
- Schuylkill Southwest
- Wharton-Hawthorne-Bella Vista
The Top 10 Richest Neighborhoods In Philadelphia
1. City Center East
- Median Household Income: $60,338
- Median Home Value: $352,249
- Median Rent: $1,534
The population of this area is 7,835 and one of the best places to live. When you move here you will see that most people choose to rent apartments rather than own homes, it can be easier when living in or near the city. 72% of people rent while only 28% choose to buy.
The cost of living index is 143 out of 102, which means that the cost of living in this area is 41% higher than the rest of Philadelphia. The crime rate is really high in this area, 208% higher than the national average and your chance of becoming a victim is 1 in 14. However, this area is still 11% safer than many other cities in Pennsylvania.
2. City Center West
- Median Household Income: $86,528
- Median Home Value: $537,300
- Median Rent: $1,930
This is just like the East sister but with a higher population of 32,463 people. The cost of living here is 116% higher than the national average and 43% higher than the rest of Philadelphia. Like its sister city, this area has a higher crime rate than other locations. The total crime rate is 155% above the national average.
Your chance of being a victim in this neighborhood is 1 in 16, which is just slightly better than the eastern side. There are many condos and townhouses for sale or rent, all within walking distance of some pretty hip bars. The nightlife is incredible in this area, but you will have to play it smart and be safe while walking around after the last call.
3. Chestnut Hill
- Median Household Income: $103,948
- Median Home Value: $540,749
- Median Rent: $1,541
Out of 102 on the living index, Chestnut Hill ranks 139; this means it is 36% more expensive to live here than in other parts of Philadelphia. There are tons of quaint bars, and the coolest thing about this town is that every year they host a Harry Potter event, and the community is fitting. This looks exactly like the type of place wizards would hang out on the regular.
Most people choose to rent homes over buying them. You will see that 53% of the community chooses to rent, and only 47% choose to own. This little town is straight from a movie, but there is less crime here than in the first two neighborhoods. With only a population of 12,304, their crime rate is 37% below the national average. Your chance of being a victim is 1 in 64. This may be a little more expensive than other areas, but it is also safe and fun.
- Median Household Income: $
- Median Home Value: $300,829
- Median Rent: $1,981
The living index for this town ranks it 134 out of 102, which makes it another very expensive place to live. It is 31% higher than other places in Philadelphia and can make it hard for people to move to. There are only 3,964 people in this town, making it one of the smallest neighborhoods on the list so far.
56% of the residents in this area choose to buy and own their homes, while only 44% rent their homes. The only downfall to this area is that the crime rate is 191% above average, and your chances of being a victim of crime are 1 in 14. This is not a great area, but it does have a lot to offer the community. Over the years, the crime rate has not changed.
5. Fairmount-Spring Garden
- Median Household Income: $72,884
- Median Home Value: $389,500
- Median Rent: $1,875
With a population of 23,809, the crime rate is a little higher than in other areas. It is 29% above the national average but still safer than 56% of Philadelphia’s cities. Your chance of being a victim in the neighborhood is 1 in 32. Unfortunately, the crime rate has stayed the same over the last several years.
Despite the high crime, this is still one of the most wealthy neighborhoods you can live in. There is only a 4.1% unemployment rate in this area, which is better than the rest of Philadelphia that has a 7.5% rate. Most people love living in this neighborhood thanks to all of the jobs, low unemployment, and historical sites to walk through.
6. Schuylkill Southwest
- Median Household Income: $35,813
- Median Home Value: $87,424
- Median Rent: $964
This is a super-diverse area with an active nightlife, and you will notice that many of the 9,987 residents choose to rent homes in this area. 52% of the residents choose to rent while only 48% choose to own. This is split pretty evenly down the middle, and you will see people of all ages in this area.
Though this is a splendid area to live in, the crime rate is 9% above the national average, and your chance of being a victim is 1 in 37. Though this may seem high, this area is still safer than 61% of the cities in Pennsylvania. On the cost of living index score 122 of 102, making it one of the most expensive places to live.
7. Wharton-Hawthorne-Bella Vista
- Median Household Income: $56,818
- Median Home Value: $268,0214
- Median Rent: $1,850
With a score of 117 out of 102 and a population of 29,357, this neighborhood has a higher cost of living than 15% of Philadelphia. Most people choose to live here for the lower crime rate; it has a total crime of 27% less than the national average. Your chance of being a victim is 1 in 43, which is better than many others on the list.
Most of your neighbors will agree that it can be safe to walk around during the day, but you should avoid nighttime strolls. There are coffee shops and cafes in the area where you can meet friends for a quick bite. There are also primary schools and senior homes nearby.
- Median Household Income: $79,057
- Median Home Value: $280,739
- Median Rent: $1,561
This area is Fishtown and Lower Kensington and is one of the best areas to live. Overall it has good affordable housing, nice schools, and low enough crime to walk around whenever you want. People generally feel safe in this town, and most people know their community really well. The population of this area is 25,207, and many people work within the community. 62% of residents here choose to own homes, and only 38% rent out their homes.
Though the cost of living is 11% higher than Philadelphia’s average, it still allows the community to have some wiggle room in the budget. Unfortunately, one of the downfalls to such an active nightlife is that pickpocketing is high. This area has a total crime rate that is 108% above average. Your chance of being a victim is 1 in 20.
- Median Household Income: $79,197
- Median Home Value: $240,847
- Median Rent: $1,537
This area has a smaller population of 8,611 but is a friendly community and accepting of newcomers. The crime rate is 3% above the national average, and robbery tends to be high in this nice neighborhood. The school in this area is not the best, but the houses and condos tend to be very luxurious.
Your chance of becoming a victim of crime is 1 in 39, and unfortunately, the crime rate has not changed over the last few years. However, many people are happy with this area and rate it very highly. The nightlife is amazing, and you will never get bored. Most of the town is split right down the middle with who owns and who buys, leaving a diverse group of people.
- Median Household Income: $75,225
- Median Home Value: $238,557
- Median Rent: $1,300
The cost of living in this area is 10% higher than the rest of Philadelphia. A small group of people lives here. The area’s population is 14,272, and a lot of young working liberals live here. 56% of residents choose to own their own houses while only 44% choose to rent.
One of the best features of this area is there is little to no crime. The rate is equal to the national average, and if you were to be a victim, it would be a 1 in 44 chance. There is much more property crime done here than violent crimes, which can be a relief for many people. The nightlife is popping and vibing, and the houses are lovely.
Wrapping It Up
If you’re looking for a little more affordable places, you should check out Bella Vista, East Falls, and Fairmount. Those are smaller communities outside of the neighborhoods listed above. They are more affordable and have a smaller amount of crime.
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