The University City District has 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 2020 (and some employment data from 2021) and shows a substantial increase in new construction and renovation square footage in 2020 following a steady decline in building since 2016.

This uptick in overall construction is attributed to academic and residential buildings on the campuses of the University of Pennsylvania and Drexel University, office space near the universities – particularly along Market Street – and several residential buildings along Chestnut Street, between 40th and 45th Streets.

The number of large residential projects in the District is helping to fuel what analysts say could be a record year for rental unit construction in Philadelphia this year.

The Spruce Hill neighborhood continued to be the priciest in the area with an average home value of $625,000, according to the report, nearly triple the median price for the city at large.

Median home prices throughout the District climbed $7,800 between 2019 and 2020 to $432,800.

The median rent in the District is about $2.10 per square foot.

Job postings among the largest University City employers – the universities, the Children’s Hospital of Philadelphia, etc. – shot up in 2021. Listings for nurses far outpaced other job postings among the largest employers. “Educational Services” and “Health Care and Social Assistance” accounted for nearly 8 out of 10 jobs in the District.

The report does not include demographic information related to race or ethnicity.