Philadelphia is a great real estate market for investors, whether you’re buying your first rental property or you’re adding to an existing and growing portfolio. At TCS Management, we have the tools, resources, and relationships in place to help you have an outstanding and successful investment experience. That starts with identifying the right opportunities and working through your personal investment goals.
Here are just a few of the many excellent reasons to buy investment property in the Philadelphia real estate market.
Philadelphia’s Economy is Attractive to Investors
Philadelphia has all the diversity, art, business, and culture of a large metropolitan area, but it feels like a small town. The city was once an industrial hub, and it continues to attract new business and commerce that has created a new economic foundation and lots of good jobs for the people who choose to call this area home. The GDP of this city alone is more than $4 billion dollars, and the growing sectors and industries include higher education, manufacturing, financial services, and biotech.
The University of Pennsylvania leads the pack of more than 80 colleges, universities, and trade schools located in and around Philadelphia. Many graduates leaving these schools are choosing to stay in the area and pursue careers.
Investing in Philadelphia Real Estate
Home prices in Philadelphia have continued to rise over the last few years, but they are still far more affordable than other east coast cities such as New York and Boston. There’s still room to grow, even as the real estate market expands and becomes more profitable for investors who are acquiring properties without needing a lot of cash or over-extending their mortgage obligations.
Diverse Philadelphia Properties and Neighborhoods
When you’re looking to buy, you’ll have a lot of options that fit any investment portfolio. You can purchase single-family homes or multi-family properties or some combination. There’s new construction if you’re hoping for a customized HOA community and there are established neighborhoods that offer great schools and walkability. There are also opportunities in commercial real estate.
Investors can experiment with diversifying their real estate portfolios or add assets that cannot be found in other markets. Whether you’re looking for single-family or multi-family real estate, you’ll be able to find something that fits your investment goals.
Philadelphia Residents and the Tenant Pool
Buyers are quick to invest in Philadelphia because of the tenants. There are a lot of well-educated, highly paid tenants in this area and they’re all looking for housing. We also see a heavy population of tenants who work in the healthcare and tech fields. There are students and academics who are also in the area, looking for attractive and well-maintained homes to rent.
Investors have access to a pool of tenants with stable financial histories and a good track record of maintaining rental homes.
We’d love to tell you more about why you should consider investing in Philadelphia. Contact us at TCS Management, whether you’re a local investor or someone out of state who is looking for a new market.
TCS Management is a full service property management company headquartered in Philadelphia, Pennsylvania, also serving Cherry Hill, NJ, Wilmington, Delaware and the surrounding areas. We focus on single-family and multifamily residential property management of homes, condos, townhomes, and apartment buildings.