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For the last two decades, Greater Center City has been the fastest growing residential section of both Philadelphia and the entire region. After a temporary dip in population, the number of downtown residents on sidewalks in Center City had rebounded to 2019 levels by the end of 2021. Rents and home sale prices held up and the number of newly-permitted residential units in both Center City and citywide reached the highest point in decades in 2021.
Center City Philadelphia holds 43% of all jobs citywide with a workforce from every neighborhood in the city, with more than 100,000 being employed in the office district. This spring and summer, Center City District (CCD) will celebrate and support Center City in-office employees by hosting free, outdoor events on West Market and JFK Boulevard.
In 2018, 2,810 new housing units were completed in Greater Center City – the largest number since Center City District began tracking the market almost 20 years ago. Strong growth is continuing at the beginning of 2019 with 3,017 more housing units under construction in Greater Center City.
This report compares Philadelphia to five other urban areas in United States. It documents how Philadelphia lags in firms that sell services nationally and globally, but suggests that if we replicate the success achieved by others, we will grow more family-sustaining jobs and a prosperous network of small, local businesses.