The University City District this week released its “State of University City,” the annual report that details home price increases, population shifts and research, retail and office space successes in the area roughly bounded by the Schuylkill River to the east, 50th Street to the west, Market Street/Powelton Avenue/Spring Garden Street to the north and Woodland Avenue/University Avenue to the south.

The report includes data from 2019 and shows a decline or levelling off in real estate development in the area, a continued increase in home values and a slight aging of the population compared to 2000. The report does not include demographic information related to race or ethnicity. 

An event at World Café Live usually accompanies the report’s release (it was not held this year due to the COVID-19 pandemic). At last year’s event, then City Councilmember-elect Jamie Gauthier challenged attendees to extend the wealth brought with the development of the University City District to neighborhoods further into West Philly.

The report details many of the large real estate development projects as well as the involvement of local research labs and firms in the fight against COVID-19 and the development of a vaccine.

Here are some details of this year’s report:

• “Central University City” and Powelton neighborhood are the most expensive neighborhoods to rent in the area at just under $2.50 per square foot per month. Garden Court is the least expensive at about $1.20.

• The median home sale home price was $425,000. The Spruce Hill neighborhood had the highest media home sale price at nearly $600,000.

• Registered nurses are the most “in demand” job in the area. In fact, medical and healthcare workers are four of the five top jobs. College instructors is the fifth.

• The number of new construction permits dropped about 25 percent in 2019 compared to 2018. Major renovations also continued to decline after peaking in 2015.

• University City has a lot of office space and its occupancy rates in 2019 were second in the region behind the Main Line, some 10 percent higher than Center City. Office space vacancy rates declined in 2019 compared to 2018 and rents ticked up a bit. This will be an interesting one to keep an eye on as the likely impact of COVID-19 and work-from-home plans begin to lift next year.

The full report is available here.