The Economy League of Greater Philadelphia has released a groundbreaking report, Know Your Price Philadelphia, authored by Executive Director, Jeff Hornstein, Ph.D., and the Lindy Institute’s Kevin Gillen, Ph.D. This first-of-its-kind study, covering the period from 1950 to 2022, reveals deep-rooted racial disparities in property values across Philadelphia's neighborhoods.
The report reveals that racial composition and homeownership rates have played a significant role in shaping property values. Property values in majority-Black and majority-Latino neighborhoods are far lower today than those in majority-white neighborhoods, and homes in majority-white neighborhoods have appreciated at a far faster rate than those in majority-nonwhite neighborhoods. The gap in appreciation values between properties in majority-white versus majority-non-white neighborhoods is a staggering $57 billion.
Read the full report for further insights.