Growing Interest in Housing Choice Vouchers as Market-Rate Competition Increases in Philadelphia
As competition in the rental market increases, more landlords are joining the Housing Choice Voucher program for guaranteed federal rental income, with PHA adapting its efforts to attract landlords and help voucher holders access higher-income areas, creating new opportunities for affordable housing.
Philadelphia City Council Advances Bill to Ban Rent-Setting Software Amid Price-Fixing Concerns
Philadelphia City Council is advancing a bill that would ban landlords from using rent-setting software, in response to price-fixing allegations. The legislation targets software that coordinates rent prices, which could impact how landlords manage rental pricing strategies.
Rethinking AMI: Exploring Localized Approaches to Affordable Housing in Philadelphia
In Philadelphia, the use of regional area median income (AMI) for affordable housing programs is being questioned, with some advocating for a localized AMI to better reflect the income levels of city residents and address housing affordability needs.
Philadelphia’s Office Building Crisis: Over $1 Billion in Value Lost Amid Rising Vacancies and Economic Impact
Philadelphia's office buildings have lost over $1 billion in assessed value, with vacancies remaining high due to the rise of hybrid work, leading to significant losses in tax revenue from property taxes, wages, and food and beverage sales.
Homebuyer Income Soars: Philadelphia and Delco Lead the Nation in Affordability Struggles!
A Redfin analysis reveals that the income needed to buy a home in Philadelphia and Delaware Counties surged by nearly 6% over the past year, requiring potential buyers to earn $82,447 annually to afford a median-priced home costing $300,000, while the median home price in the region increased by about 9%.