Philadelphia housing market has become less affordable, study shows – Metro Philadelphia

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Philadelphia housing market has become less affordable, study shows – Metro Philadelphia

The affordability of home buying in Philadelphia – compared to other major cities – “may be somewhat overstated,” researchers said in an analysis published this week. While Philadelphia has historically been known for a high rate of homeownership, the barriers to entry have grown over the past two decades, according to the study, conducted by Pew Charitable Trusts’ local research initiative. The city’s house price-to-income ratio is 3.8, far les…