Real Estate Investing in Philadelphia, Pennsylvania (19104)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 19104 (Philadelphia, PA)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 17.2% of homes vacant — above national norms.
- Declining values: -2.7% 5-year CAGR — values have moved lower.
- Elevated poverty: 26.1% poverty rate — can affect rent collection.
- Lower household income: $33,766 median — tenant affordability is tighter.
What’s happening in Philadelphia, PA (19104)?
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Market Analysis: 19104 Philadelphia
ZIP 19104 in Philadelphia, PA carries a solid set of headwinds. Home values near $218K and rents of $1,706/mo sit inside a market where underwriting has to be tight.
The investment case in 19104 is notable only for operators who understand what they are buying. A $218K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Nearby ZIPs in Philadelphia have seen price recovery that 19104 has not matched. Philadelphia County data supports the view that the spread is structural rather than temporary.
Resident income in 19104 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
Distressed ZIPs reward experience. impressive returns are possible in 19104, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Philadelphia:
Property Strategy for 19104
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $255,826 | $1,510 | 4.2% | +4.3% | $255,826 |
| 2BR | $252,854 | $1,800 | 5.1% | +2.2% | $126,427 |
| 3BR | $141,883 | $2,160 | 11.0% | -0.9% | $47,294 |
| 4BR | $286,885 | $2,410 | 6.0% | +2.6% | $71,721 |
| 5BR | $489,603 | — | — | +2.5% | $97,921 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 19104 Compare?
| Metric | 19104 | Philadelphia | Pennsylvania |
|---|---|---|---|
| Home Value | $217,665 | $260,324 | $278,018 |
| 5-Year CAGR | N/A | 1.2% | 6.3% |
| Avg Rent | $1,706 | $1,659 | - |
| Cap Rate | 6.1% | 5.6% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 19104 (Philadelphia, PA). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 19104 (Philadelphia, PA)?
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Property managers serving Philadelphia County
Manage rentals here? List your business →Atlas Property Management is a boutique team offering personal service for single-family rentals across Napa Valley, serving Napa, Yountville, St. Helena, Calistoga, Sonoma, American Canyon, Hiddenbro summary from their website
Citified Realty & Property Management provides management services for single-family, multi-family, and commercial units in Philadelphia, focusing on tenant satisfaction. summary from their website
Chapel Realty Property Management. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $217,665 |
| Monthly Rent | $1,706 |
| Price-to-Rent | 10.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 9.4% |
| Cap Rate | 6.1% |
| 5-Year IRR | 3.4% |
📈 Home Appreciation
| 1-Year | -2.5% ▼ |
| 3-Year CAGR | -1.8% ▼ |
| 5-Year CAGR | -2.7% ▼ |
| 10-Year CAGR | +4.9% ▲ |
🏠 Rent Trends
| 1-Year | +1.8% ▲ |
| 3-Year CAGR | +2.2% ▲ |
| 5-Year CAGR | +3.0% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (6.1%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 19104
Population: 54,454
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 19104
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 5,060 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What are rental rates like in Philadelphia, PA?
Average rent in Philadelphia, PA is approximately $1,706/mo per month. Against $218K home values that yields a reasonable rent-to-price ratio.
What is the typical vacancy rate in Philadelphia, PA?
Philadelphia, PA vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
Is Philadelphia in PA worth investing in?
Our data puts Philadelphia, PA at 3.0/5 for investability. Home prices of $218K and rents around $1,706/mo create a solid backdrop for investor activity.
Can I house hack in Philadelphia, PA?
Philadelphia, PA is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $218K price point reasonable to enter.
How do landlord-tenant laws work in Philadelphia, PA?
PA ranks as a landlord-friendly state for landlord-tenant law. Philadelphia generally follows the statewide framework, so landlords face reasonable operating rules.
You know 19104 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 19104 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 19104 ranks in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
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