Philadelphia FHA Loan Rates, Closing Costs & Stats

Philadelphia-Camden-Wilmington, PA-NJ-DE-MD

FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

For additional requirements as defined by the FHA, click here.

Philadelphia's 251 lenders originated 13,142 FHA loans during 2023. The total origination value was $3,489,150,000, with an average FHA loan value of $265,496.

Philadelphia FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Philadelphia averaged 6.49% for the week of 2024-06-14, compared to the national average (all FHA variants) of 6.712% for the same period.

Philadelphia's average FHA mortgage closing costs are $8,752.

The average rate for the prior week (2024-06-07) was 6.58% and one month ago for the week of 2024-05-10, the average rate was 6.56%.

The average rate one year ago was 6.82%.

For refis of the same type during the week of 2024-06-14, the average rate was 7.15%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Philadelphia FHA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Philadelphia level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
QUICKEN LOANS, LLC 1,182 6.22% $12,221
CROSSCOUNTRY MORTGAGE, LLC 805 6.76% $13,418
UNITED WHOLESALE MORTGAGE, LLC 645 6.34% $13,533
MOVEMENT MORTGAGE, LLC 393 6.57% $12,088
ALLIED MORTGAGE GROUP, INC. 345 6.52% $11,139
Prosperity Home Mortgage, LLC 345 6.55% $10,709
GREENTREE MORTGAGE COMPANY, L.P. 342 6.55% $10,701
NATION ONE MORTGAGE CORPORATION 289 6.66% $13,857
NFM, INC. 276 6.46% $11,678
LOANDEPOT.COM, LLC 271 6.36% $12,944
PENNYMAC LOAN SERVICES, LLC 251 6.17% $13,759
ABSOLUTE HOME MORTGAGE CORPORATION 239 6.61% $12,546
NVR Mortgage Finance, Inc. 236 5.82% $14,969
PIKE CREEK MORTGAGE SERVICES, INC. 220 6.84% $11,937
Meridian Bank Corporation 219 6.73% $11,449
BROKER SOLUTIONS, INC. 187 6.62% $11,721
GUARANTEED RATE, INC. 186 6.30% $12,363
FREEDOM MORTGAGE CORPORATION 177 6.82% $13,856
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 175 6.71% $12,879
NEWREZ LLC 168 6.38% $13,060
Acre Mortgage and Financial Inc 164 6.72% $14,358
Keystone Funding, Inc. 153 6.52% $14,339
Mr. Cooper ( Nationstar Mortgage ) 152 6.11% $16,233
CMG MORTGAGE, INC. 151 6.77% $14,292
EMM LOANS LLC 145 6.37% $13,545
SUCCESS MORTGAGE PARTNERS, INC. 134 6.51% $11,898
Carrington Mortgage Services, LLC 132 6.41% $13,778
Citizens Bank 125 6.37% $11,455
CARDINAL FINANCIAL 120 6.52% $13,237
AMERICAN FINANCIAL NETWORK, INC. 115 6.79% $12,352
Advisors Mortgage Group, L.L.C. 100 6.44% $10,970
AMERISAVE MORTGAGE CORPORATION 98 6.04% $14,421
PLAZA HOME MORTGAGE, INC. 90 6.61% $14,456
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 82 6.58% $12,007
GUILD MORTGAGE COMPANY 81 6.70% $13,387
Equity Prime Mortgage LLC 78 6.63% $14,756
Wilmington Savings Fund Society, FSB 78 6.54% $9,377
Huntingdon Valley Bank 73 6.31% $9,609
Northpointe Bank 71 6.25% $12,047
MUTUAL OF OMAHA MORTGAGE, INC. 70 6.69% $16,733
First Citizens Community Bank 67 6.71% $9,876
Paramount Residential Mortgage Group, Inc. 66 6.73% $13,965
Mortgage America, Inc. 66 6.46% $10,190
PRIMARY RESIDENTIAL MORTGAGE, INC. 65 6.79% $12,885
Gateway First Bank 65 6.56% $10,791
LAKEVIEW LOAN SERVICING, LLC 61 6.19% $12,962
Evolve Bank & Trust 58 6.70% $11,652
NJ LENDERS CORP. 56 6.47% $13,805
DHI MORTGAGE COMPANY, LTD. 53 6.23% $13,739
Fulton Bank 49 6.13% $10,058
HOMEBRIDGE FINANCIAL SERVICES, INC. 48 6.49% $12,245
Flagstar Bank, FSB 47 6.67% $12,715
FIRST HERITAGE FINANCIAL, LLC 46 6.58% $9,158
Princeton Mortgage Corporation 44 6.58% $11,618
Nations Lending Corporation 42 6.40% $12,784
PANORAMA MORTGAGE GROUP, LLC 41 6.41% $14,487
MORTGAGE ACCESS CORP. 41 6.57% $14,188
Summit Mortgage Corporation 41 6.72% $12,704
Quaint Oak Mortgage, LLC 41 6.34% $12,281
Univest Bank and Trust Co. 40 6.32% $11,169
LENDING CAPITAL GROUP Inc 40 6.69% $14,499
JPMorgan Chase Bank 38 6.24% $7,397
M&T Bank 38 6.41% $11,475
1st Colonial Community Bank 37 6.46% $9,220
NATIONWIDE MORTGAGE BANKERS, INC. 36 6.93% $14,605
Center City Mortgage and Investments LLC 36 6.18% $12,323
GUARANTEED RATE AFFINITY, LLC 35 6.50% $13,845
SUN WEST MORTGAGE COMPANY, INC. 35 6.37% $11,331
US MORTGAGE CORPORATION 34 6.39% $13,503
Philadelphia Mortgage Advisors, Inc. 34 6.52% $10,628
MLD MORTGAGE INC. 31 6.42% $10,040
RELIANCE FIRST CAPITAL, LLC 30 6.63% $14,839
DRAPER AND KRAMER MORTGAGE CORP. 30 6.57% $11,036
AmeriHome Mortgage Company, LLC 30 6.42% $12,950
EMBRACE HOME LOANS, INC. 28 6.61% $11,631
GSF Mortgage Corporation 28 6.81% $12,510
Mortgage Research Center, LLC 27 6.98% $8,531
HOMESIDE FINANCIAL, LLC 27 6.74% $12,607
Plains Commerce Bank 27 6.56% $15,450
PNC Bank 26 6.70% $9,605
PLANET HOME LENDING, LLC 25 5.86% $12,519
VILLAGE CAPITAL MORTGAGE 24 6.08% $12,669
CONTOUR MORTGAGE CORPORATION 24 6.77% $16,821
Wells Fargo Bank 23 6.72% $9,679
Bank of America 22 6.16% $8,788
ENVOY MORTGAGE, LTD 22 6.67% $15,021
Firstrust Savings Bank 22 6.68% $9,612
TD Bank 22 6.41% $8,199
RESIDENTIAL BANCORP 21 6.56% $11,248
TIDEWATER MORTGAGE SERVICES, INC. 21 6.80% $11,286
PRIMELENDING, A PLAINSCAPITAL COMPANY 21 6.51% $11,296
Mid Penn Bank 21 6.58% $11,489
Ixonia Bank 21 6.51% $14,819
AMERICAN PACIFIC MORTGAGE CORPORATION 20 7.14% $9,805
UNION HOME MORTGAGE CORP. 20 6.83% $11,212
EVERETT FINANCIAL, INC. 20 6.91% $14,680
AmRes Corporation 20 6.87% $12,659
DEVELOPER'S MORTGAGE COMPANY 19 6.84% $9,215
MLB RESIDENTIAL LENDING, LLC 18 6.75% $17,822
The Federal Savings Bank 18 6.31% $16,931
TOP FLITE FINANCIAL, INC. 18 6.92% $19,285
BAY EQUITY LLC 18 6.58% $12,945
AMERICAN HERITAGE FCU 18 6.51% $8,460
Lakeview Community Capital, LLC 18 5.94% $10,551
TOWNE MORTGAGE COMPANY 16 6.58% $14,928
ZILLOW HOME LOANS, LLC 16 6.43% $11,537
PHH Mortgage Corporation 15 6.31% $12,791
LOANPAL, LLC 15 5.80% $13,603
MORTGAGE SOLUTIONS OF COLORADO, LLC 14 6.94% $15,280
Customers Bank 14 6.15% $7,525
EAGLE HOME MORTGAGE, LLC 14 6.01% $15,023
MICHIGAN MUTUAL, INC. 14 5.71% $15,387
Financial Freedom Mortgage, LLC 13 6.17% $11,745
FIRST ALLIANCE HOME MORTGAGE, LLC 13 6.63% $15,296
NATIONS DIRECT MORTGAGE, LLC 13 6.63% $12,590
NBKC BANK 13 5.93% $12,720
OCMBC, INC. 12 7.04% $14,037
FIRST COMMUNITY MORTGAGE, INC. 12 7.05% $13,269
BECKAM FUNDING CORP. 11 7.39% $18,476
Magnolia Bank 11 6.68% $11,614
MILEND, INC. 11 6.39% $16,523
1ST 2ND MORTGAGE COMPANY OF N.J., INC. 10 6.80% $15,214
Northeast Equitable Mortgage, LLC 10 6.75% $11,356
PINNACLE MORTGAGE, INC. 10 6.45% $11,547
LIBERTY HOME MORTGAGE CORPORATION 9 6.36% $14,674
Century Mortgage Company DBA Century Lending Company 9 6.46% $14,294
NORWICH COMMERCIAL GROUP, INC. 9 6.21% $10,519
First Savings Bank 9 5.90% $13,332
TJC Mortgage, Inc. 9 7.01% $11,434
SWBC MORTGAGE CORPORATION 8 6.84% $7,938
ARK-LA-TEX FINANCIAL SERVICES, LLC. 8 6.28% $12,934
AMERICAN FINANCIAL RESOURCES, INC. 8 6.39% $14,506
MDE Home Loans, LLC 8 6.61% $17,395
Bank of England 8 6.78% $11,334
Barrington Bank & Trust Company, N.A. 8 6.55% $10,275
RAPID MORTGAGE COMPANY 8 6.64% $17,720
Presidential Bank, FSB 8 6.58% $14,314
PENTAGON FEDERAL CREDIT UNION 7 5.82% $10,730
DAS Acquisition Company, LLC 7 6.87% $15,873
U.S. Bank 7 6.14% $12,085
DIRECT MORTGAGE LOANS, LLC 7 6.71% $12,058
Cornerstone First Mortgage, Inc 7 6.80% $13,227
SUMMIT FUNDING, INC. 7 6.80% $18,266
JERSEY MORTGAGE COMPANY OF NEW JERSEY, INC. 6 6.54% $19,115
CALIBER HOME LOANS, INC. 6 6.15% $11,062
NEW FED MORTGAGE, CORP. 6 6.52% $13,501
LOANLEADERS OF AMERICA, INC. 6 6.29% $18,276
CHERRY CREEK MORTGAGE, LLC 6 6.42% $5,090
T2 FINANCIAL LLC 6 6.63% $15,830
FIRST HOME MORTGAGE CORPORATION 6 6.92% $17,540
POLARIS HOME FUNDING CORP. 6 6.92% $13,188
East Coast Capital Corp. 6 6.46% $18,638
AMERICAN FINANCING CORPORATION 6 6.77% $13,948
Truist 6 6.53% $8,335
NETWORK CAPITAL FUNDING CORPORATION 5 6.75% $11,276
TOTAL MORTGAGE SERVICES, LLC 5 6.60% $10,368
Atlantic Coast Mortgage, LLC 5 6.44% $17,233
MEMBER FIRST MORTGAGE, LLC 5 6.50% $10,886
ROYAL UNITED MORTGAGE LLC 5 7.00% $11,609
Residential Mortgage Solutions, Inc. 5 6.93% $13,727
Republic Bank 5 5.73% $7,164
K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 4 6.53% $19,360
Loan Simple, Inc. 4 6.75% $13,973
GREENWAY MORTGAGE FUNDING CORP. 4 6.53% $17,405
GENEVA FINANCIAL, LLC 4 6.78% $15,188
Florida Capital Bank 4 6.81% $14,238
First Federal Bank 4 6.25% $11,934
Commerce Home Mortgage, Inc. 4 6.97% $13,905
BOND STREET MORTGAGE, LLC 4 6.38% $11,490
RESIDENTIAL HOME MORTGAGE CORPORATION 4 6.69% $16,606
Sierra Pacific Mortgage Company, Inc. 4 6.22% $17,190
SOUTHPOINT FINANCIAL SERVICES, INC. 4 6.25% $9,221
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 4 6.94% $10,741
JMAC LENDING, INC. 4 7.72% $9,787
The Huntington National Bank 3 6.00% $8,808
MID AMERICA MORTGAGE, INC. 3 6.79% $11,590
BAYSHORE MORTGAGE FUNDING, LLC 3 6.75% $9,780
Towne Bank 3 6.25% $11,380
FIDELITY DIRECT MORTGAGE, LLC 3 6.75% $12,883
MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 3 6.25% $22,105
CLIFFCO, INC. 3 6.04% $16,654
FEDERATED LENDING CORPORATION 3 5.92% $14,796
The Loan Store, Inc. 3 7.12% $13,903
OCEANSIDE MORTGAGE COMPANY 2 6.25% $7,190
Fifth Third Bank 2 6.06% $7,067
CITY FIRST MORTGAGE SERVICES, L.L.C. 2 7.06% $12,491
FM Home Loans, LLC 2 6.19% $12,845
PREMIA MORTGAGE, LLC 2 6.19% $8,014
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 2 6.44% $15,735
Alcova Mortgage LLC 2 6.94% $7,732
Blue Ridge Bank 2 6.25% $8,230
GUARANTY HOME MORTGAGE CORPORATION 2 6.75% $13,498
RESIDENTIAL HOME FUNDING CORP. 2 6.81% $13,300
Willamette Valley Bank 2 6.25% $21,228
MILLENIUM HOME MORTGAGE, LLC 2 6.44% $11,896
ACADEMY MORTGAGE CORPORATION 2 6.50% $18,807
A&D Mortgage LLC 2 6.06% $18,691
STOCKTON MORTGAGE CORPORATION 2 5.81% $10,382
HARTFORD FUNDING, LTD. 2 7.19% $18,718
HOMESPIRE MORTGAGE CORPORATION 2 6.88% $18,095
The Central Trust Bank 2 6.25% $9,304
KeyBank 2 6.38% $7,600
TruHome Solutions, LLC 2 6.19% $12,459
AMERITRUST MORTGAGE CORPORATION 2 6.13% $22,637
AmeriServ Financial Bank 2 5.69% $14,927
American Mortgage & Equity Consultants, Inc. 2 7.31% $9,353
VERITAS FUNDING, LLC 2 6.81% $13,847
Waterstone Mortgage Corporation 2 7.00% $13,164
EQUITY NOW INC. 2 6.19% $8,795
SOUTHERN TRUST MORTGAGE, LLC 1 6.13% $8,672
Wyndham Capital Mortgage, Inc. 1 5.63% $20,173
SOVEREIGN LENDING GROUP INCORPORATED 1 5.63% $15,994
STATE EMPLOYEES CREDIT UNION OF MARYLAND, INCORPORATED 1 6.00% $4,076
LAND HOME FINANCIAL SERVICES, INC. 1 7.50% $9,442
CHURCHILL MORTGAGE CORPORATION 1 6.50% $10,538
VAN DYK MORTGAGE CORPORATION 1 7.00% $7,600
Mid-Continent Funding, Inc. 1 6.75% $18,310
CITADEL FEDERAL CREDIT UNION 1 7.63% $6,055
COMMUNITYAMERICA 1 6.38% $14,647
HOMESTEAD FUNDING CORP. 1 5.75% $8,152
BANC ONE MORTGAGE CORPORATION 1 6.13% $4,452
JET DIRECT FUNDING CORP 1 7.00% $11,428
ATLANTIS MORTGAGE CO., INC. 1 6.63% $10,147
Citibank 1 5.38% $11,249
First National Bank of Pennsylvania 1 7.13% $10,556
THE MORTGAGE LINK, INC. 1 7.25% $10,743
Colonial Savings, F.A. 1 6.50% $8,772
MCLEAN MORTGAGE CORPORATION 1 6.13% $15,052
First Option Mortgage, LLC 1 6.50% $8,806
OAKTREE FUNDING CORP. 1 6.63% $23,454
York Traditions Bank 1 6.38% $6,638
Franklin Loan Corporation 1 5.63% $15,443
MORTGAGE EQUITY PARTNERS LLC 1 7.13% $9,292
Capital Bank 1 7.25% $9,018
WELCOME HOME FINANCE, L.P. 1 5.88% $2,043
HOMEXPRESS MORTGAGE CORP. 1 6.88% $11,640
BNC National Bank 1 6.50% $15,618
North American Savings Bank, F.S.B. 1 6.63% $5,907
RADIUS FINANCIAL GROUP INC. 1 6.75% $11,151
Goldwater Bank, N.A. 1 6.13% $17,943
BETTER MORTGAGE CORPORATION 1 5.75% $11,614
MORIA DEVELOPMENT, INC. 1 7.63% $13,351
INTERSTATE HOME LOAN CENTER, INC. 1 7.13% $21,111
NEW DAY FINANCIAL, LLC 1 7.99% $4,441
EQUITY RESOURCES, INC. 1 6.99% $9,853
UNIVERSAL MORTGAGE & FINANCE, INC. 1 6.75% $15,373
NOVA FINANCIAL & INVESTMENT CORPORATION 1 7.38% $19,664
RUOFF MORTGAGE COMPANY, INC. 1 6.50% $5,969
SeaTrust Mortgage Company 1 6.12% $17,761
Shore United Bank 1 6.75% $7,087
Leader Bank 1 6.13% $9,194

The top Philadelphia FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 1,182 FHA loans originated. Their average total fees are $12,221, which is $1,197 lower than the next largest lender, CROSSCOUNTRY MORTGAGE, LLC.

The lowest fee Philadelphia FHA lenders (with over 10 loans originated) are JPMorgan Chase Bank ($7,397), Customers Bank ($7,525), TD Bank ($8,199), AMERICAN HERITAGE FCU ($8,460) and Mortgage Research Center, LLC ($8,531).

The lowest rate Philadelphia FHA lenders (with over 10 loans originated) are MICHIGAN MUTUAL, INC. (5.71%), LOANPAL, LLC (5.80%), NVR Mortgage Finance, Inc. (5.82%), PLANET HOME LENDING, LLC (5.86%) and NBKC BANK (5.93%).

Philadelphia FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD NEW CASTLE 2022 $477,250 $610,950 $738,500 $917,800
PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD CECIL 2022 $477,250 $610,950 $738,500 $917,800
PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD BURLINGTON 2022 $477,250 $610,950 $738,500 $917,800
PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD CAMDEN 2022 $477,250 $610,950 $738,500 $917,800
PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD GLOUCESTER 2022 $477,250 $610,950 $738,500 $917,800
PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD SALEM 2022 $477,250 $610,950 $738,500 $917,800
PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD BUCKS 2022 $477,250 $610,950 $738,500 $917,800
PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD CHESTER 2022 $477,250 $610,950 $738,500 $917,800
PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD DELAWARE 2022 $477,250 $610,950 $738,500 $917,800
PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD MONTGOMERY 2022 $477,250 $610,950 $738,500 $917,800
PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD PHILADELPHIA 2022 $477,250 $610,950 $738,500 $917,800
PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD NEW CASTLE 2023 $529,000 $677,200 $818,600 $1,017,300
PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD CECIL 2023 $529,000 $677,200 $818,600 $1,017,300
PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD BURLINGTON 2023 $529,000 $677,200 $818,600 $1,017,300
PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD CAMDEN 2023 $529,000 $677,200 $818,600 $1,017,300
PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD GLOUCESTER 2023 $529,000 $677,200 $818,600 $1,017,300
PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD SALEM 2023 $529,000 $677,200 $818,600 $1,017,300
PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD BUCKS 2023 $529,000 $677,200 $818,600 $1,017,300
PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD CHESTER 2023 $529,000 $677,200 $818,600 $1,017,300
PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD DELAWARE 2023 $529,000 $677,200 $818,600 $1,017,300
PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD MONTGOMERY 2023 $529,000 $677,200 $818,600 $1,017,300
PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD PHILADELPHIA 2023 $529,000 $677,200 $818,600 $1,017,300

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Philadelphia (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
2018-01-01 $229,995 (5.0%) $343,148 (3.1%) 0.85 20,091
2018-02-01 $236,495 (7.5%) $345,641 (2.6%) 0.86 20,324
2018-03-01 $240,000 (5.2%) $355,372 (2.9%) 0.84 19,664
2018-04-01 $249,950 (6.4%) $368,667 (4.1%) 0.85 20,536
2018-05-01 $264,500 (8.2%) $382,305 (5.4%) 0.88 21,369
2018-06-01 $269,000 (8.7%) $388,007 (5.6%) 0.90 21,956
2018-07-01 $269,900 (8.2%) $387,673 (6.0%) 0.90 22,046
2018-08-01 $262,450 (5.8%) $381,803 (5.9%) 0.88 22,059
2018-09-01 $260,000 (5.3%) $381,222 (5.3%) 0.87 22,372
2018-10-01 $264,900 (6.0%) $381,630 (4.2%) 0.90 22,719
2018-11-01 $262,000 (8.1%) $378,883 (7.1%) 0.89 21,974
2018-12-01 $252,950 (6.3%) $372,337 (7.1%) 0.87 20,169
2019-01-01 $249,900 (8.7%) $362,674 (5.7%) 0.86 18,670
2019-02-01 $250,000 (5.7%) $367,914 (6.4%) 0.84 18,442
2019-03-01 $263,571 (9.8%) $382,802 (7.7%) 0.86 18,991
2019-04-01 $275,000 (10.0%) $395,384 (7.3%) 0.87 19,615
2019-05-01 $285,275 (7.9%) $405,589 (6.1%) 0.89 20,163
2019-06-01 $289,900 (7.8%) $407,178 (4.9%) 0.91 20,609
2019-07-01 $286,000 (6.0%) $404,857 (4.4%) 0.90 20,476
2019-08-01 $288,811 (10.0%) $407,988 (6.9%) 0.91 19,922
2019-09-01 $294,542 (13.3%) $417,180 (9.4%) 0.94 19,184
2019-10-01 $298,363 (12.6%) $424,153 (11.1%) 0.96 18,547
2019-11-01 $294,800 (12.5%) $421,606 (11.3%) 0.97 17,424
2019-12-01 $285,495 (12.9%) $419,734 (12.7%) 0.95 15,070
2020-01-01 $284,448 (13.8%) $417,078 (15.0%) 0.95 13,599
2020-02-01 $289,986 (16.0%) $430,008 (16.9%) 0.95 13,201
2020-03-01 $299,950 (13.8%) $443,288 (15.8%) 0.94 13,324
2020-04-01 $299,900 (9.1%) $442,711 (12.0%) 0.94 11,889
2020-05-01 $309,945 (8.7%) $451,578 (11.3%) 0.94 12,389
2020-06-01 $327,450 (13.0%) $472,121 (16.0%) 0.96 12,509
2020-07-01 $339,900 (18.9%) $495,413 (22.4%) 0.99 11,427
2020-08-01 $339,900 (17.7%) $503,338 (23.4%) 0.97 10,853
2020-09-01 $339,950 (15.4%) $506,058 (21.3%) 0.97 10,877
2020-10-01 $344,900 (15.6%) $514,093 (21.2%) 0.99 10,827
2020-11-01 $337,450 (14.5%) $509,052 (20.7%) 0.99 10,406
2020-12-01 $325,000 (13.8%) $499,138 (18.9%) 0.97 9,098
2021-01-01 $320,000 (12.5%) $500,475 (20.0%) 0.96 7,975
2021-02-01 $320,000 (10.4%) $512,115 (19.1%) 0.93 7,133
2021-03-01 $325,000 (8.4%) $521,990 (17.8%) 0.92 7,273
2021-04-01 $336,450 (12.2%) $537,418 (21.4%) 0.91 7,632
2021-05-01 $339,000 (9.4%) $524,162 (16.1%) 0.90 8,302
2021-06-01 $330,000 (0.8%) $501,219 (6.2%) 0.87 9,874
2021-07-01 $325,000 (-4.4%) $483,789 (-2.4%) 0.86 10,683
2021-08-01 $319,900 (-5.9%) $470,989 (-6.4%) 0.85 10,997
2021-09-01 $319,500 (-6.0%) $468,032 (-7.5%) 0.85 11,020
2021-10-01 $319,900 (-7.3%) $470,906 (-8.4%) 0.85 10,709
2021-11-01 $311,200 (-7.8%) $469,869 (-7.7%) 0.83 9,790
2021-12-01 $299,950 (-7.7%) $465,523 (-6.7%) 0.81 8,423
2022-01-01 $299,900 (-6.3%) $476,101 (-4.9%) 0.81 6,980
2022-02-01 $299,950 (-6.3%) $485,606 (-5.2%) 0.78 6,569
2022-03-01 $312,125 (-4.0%) $495,502 (-5.1%) 0.78 6,933
2022-04-01 $325,000 (-3.4%) $500,971 (-6.8%) 0.77 7,331
2022-05-01 $339,950 (0.3%) $505,725 (-3.5%) 0.78 8,561
2022-06-01 $348,900 (5.7%) $504,160 (0.6%) 0.78 9,672
2022-07-01 $345,000 (6.2%) $499,486 (3.2%) 0.78 10,801
2022-08-01 $339,450 (6.1%) $495,209 (5.1%) 0.78 10,790
2022-09-01 $335,000 (4.9%) $495,062 (5.8%) 0.78 10,749
2022-10-01 $335,000 (4.7%) $498,370 (5.8%) 0.79 11,162
2022-11-01 $331,450 (6.5%) $497,789 (5.9%) 0.80 11,004
2022-12-01 $325,000 (8.4%) $492,295 (5.8%) 0.80 9,606
2023-01-01 $322,000 (7.4%) $496,357 (4.3%) 0.80 8,730
2023-02-01 $322,450 (7.5%) $510,642 (5.2%) 0.78 8,088
2023-03-01 $328,450 (5.2%) $516,575 (4.3%) 0.77 7,967
2023-04-01 $339,640 (4.5%) $538,707 (7.5%) 0.79 8,053
2023-05-01 $349,450 (2.8%) $544,226 (7.6%) 0.79 8,047
2023-06-01 $354,950 (1.7%) $560,838 (11.2%) 0.80 8,318
2023-07-01 $350,000 (1.5%) $553,808 (10.9%) 0.80 8,348
2023-08-01 $350,000 (3.1%) $543,128 (9.7%) 0.80 8,555
2023-09-01 $350,000 (4.5%) $541,242 (9.3%) 0.81 9,092
2023-10-01 $350,000 (4.5%) $543,703 (9.1%) 0.82 9,607
2023-11-01 $349,900 (5.6%) $536,853 (7.9%) 0.83 9,708
2023-12-01 $340,000 (4.6%) $531,015 (7.9%) 0.83 8,879
2024-01-01 $337,375 (4.8%) $533,636 (7.5%) 0.82 7,895
2024-02-01 $339,950 (5.4%) $538,381 (5.4%) 0.82 7,622
2024-03-01 $349,999 (6.6%) $559,038 (8.2%) 0.82 7,863
2024-04-01 $369,950 (8.9%) $583,357 (8.3%) 0.86 8,315
2024-05-01 $382,076 (9.3%) $606,441 (11.4%) 0.86 8,723
Philadelphia's median listing price for 2024-05-01 was $382,076, a difference of $32,626 (9.3%) versus the prior year and $12,126 versus the prior month.

Philadelphia's median listing price comes in at 86% of the national average.

Philadelphia's average listing price for 2024-05-01 was $606,441, a difference of $62,215 (11.4%) versus the prior year and $23,084 versus the prior month.

For the 2024-05-01 period, Philadelphia had 8,723 MLS listings, a difference of 408 listings (5%) versus the prior month and 676 listings (8%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Philadelphia (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 81 days 1,700 sqft
2018-02-01 73 days 1,705 sqft
2018-03-01 54 days 1,718 sqft
2018-04-01 52 days 1,755 sqft
2018-05-01 48 days 1,800 sqft
2018-06-01 51 days 1,825 sqft
2018-07-01 57 days 1,826 sqft
2018-08-01 59 days 1,804 sqft
2018-09-01 60 days 1,800 sqft
2018-10-01 60 days 1,800 sqft
2018-11-01 63 days 1,800 sqft
2018-12-01 72 days 1,762 sqft
2019-01-01 79 days 1,751 sqft
2019-02-01 72 days 1,772 sqft
2019-03-01 58 days 1,804 sqft
2019-04-01 46 days 1,829 sqft
2019-05-01 45 days 1,862 sqft
2019-06-01 50 days 1,876 sqft
2019-07-01 57 days 1,855 sqft
2019-08-01 57 days 1,858 sqft
2019-09-01 58 days 1,875 sqft
2019-10-01 58 days 1,884 sqft
2019-11-01 61 days 1,850 sqft
2019-12-01 73 days 1,827 sqft
2020-01-01 79 days 1,800 sqft
2020-02-01 62 days 1,825 sqft
2020-03-01 45 days 1,846 sqft
2020-04-01 58 days 1,829 sqft
2020-05-01 71 days 1,860 sqft
2020-06-01 53 days 1,882 sqft
2020-07-01 43 days 1,875 sqft
2020-08-01 40 days 1,848 sqft
2020-09-01 39 days 1,792 sqft
2020-10-01 45 days 1,776 sqft
2020-11-01 49 days 1,740 sqft
2020-12-01 58 days 1,686 sqft
2021-01-01 64 days 1,634 sqft
2021-02-01 56 days 1,610 sqft
2021-03-01 42 days 1,624 sqft
2021-04-01 35 days 1,659 sqft
2021-05-01 32 days 1,675 sqft
2021-06-01 33 days 1,667 sqft
2021-07-01 37 days 1,650 sqft
2021-08-01 41 days 1,624 sqft
2021-09-01 45 days 1,602 sqft
2021-10-01 45 days 1,598 sqft
2021-11-01 49 days 1,558 sqft
2021-12-01 56 days 1,530 sqft
2022-01-01 61 days 1,504 sqft
2022-02-01 49 days 1,516 sqft
2022-03-01 35 days 1,536 sqft
2022-04-01 33 days 1,545 sqft
2022-05-01 32 days 1,598 sqft
2022-06-01 35 days 1,644 sqft
2022-07-01 38 days 1,620 sqft
2022-08-01 44 days 1,591 sqft
2022-09-01 49 days 1,586 sqft
2022-10-01 49 days 1,596 sqft
2022-11-01 52 days 1,589 sqft
2022-12-01 61 days 1,562 sqft
2023-01-01 67 days 1,546 sqft
2023-02-01 63 days 1,545 sqft
2023-03-01 50 days 1,556 sqft
2023-04-01 44 days 1,562 sqft
2023-05-01 44 days 1,591 sqft
2023-06-01 45 days 1,629 sqft
2023-07-01 45 days 1,618 sqft
2023-08-01 45 days 1,594 sqft
2023-09-01 45 days 1,578 sqft
2023-10-01 44 days 1,597 sqft
2023-11-01 46 days 1,575 sqft
2023-12-01 56 days 1,541 sqft
2024-01-01 66 days 1,530 sqft
2024-02-01 59 days 1,530 sqft
2024-03-01 43 days 1,560 sqft
2024-04-01 40 days 1,604 sqft
2024-05-01 34 days 1,612 sqft
Philadelphia's median listing age (time on market) for 2024-05-01 was 34 days. This is -23% shorter than the same period one year ago.

Philadelphia's median square footage for active listings during the 2024-05-01 period was 1,612 sqft. One year prior, the average listing was 1,591 sqft.

FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).