HPI (2025)FHFA
284
Metro Series · Northeast · Rank #8
Home Price History in Philadelphia
FHFA all-transactions House Price Index for the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD metropolitan statistical area — annual data, 1975 through 2025, rebased to 100 in the year 2000.
YoY changeFHFA
+4.7%
5-yr changeFHFA
+52%
Since 2000FHFA
+184%
Philadelphia's housing market has been one of the most stable in the modern series. The 2007–2011 drawdown was -14%; post-2012 appreciation was below the national average through most of the 2010s; the 2020–2024 surge has been moderate. The Philadelphia HPI in 2024 sits at roughly 2.2× its 2000 base — below the top-10 metro average and reflecting the market's lower price level and more affordable composition.
The 2007–2011 housing crisis cut the Philadelphia HPI by 16.7% peak-to-trough — from 180.8 in 2007 to 150.7 in 2012. For context, the U.S. national HPI fell roughly 24% over the same period, so Philadelphia was meaningfully less affected than the national average.
The pandemic-era surge brought the Philadelphia HPI from 180.6 in 2019 to 283.8 in 2025 — a cumulative +57.1% move in 6 years. Compared to the U.S. national HPI's roughly 50% gain over the same period, Philadelphia appreciated roughly in line with the national rate.
Located in the Northeast region of the United States, Philadelphia is one of the 100 largest U.S. metropolitan statistical areas by population. Long-run housing appreciation in Philadelphia reflects a combination of regional employment trends, in-migration patterns, and local supply constraints. The full year-by-year FHFA HPI for Philadelphia is in the data table below.
To compare Philadelphia to the national U.S. housing market, see the national median price history dashboard. Other metros in the Northeast region: see the full metro index. For state-level data, see the state index.
Annual data — Philadelphia
FHFA House Price Index, 2000=100. Annual data; not seasonally adjusted. Source: U.S. Federal Housing Finance Agency.
| Year | HPI (2000=100) | YoY change |
|---|---|---|
| 2025 | 283.80 | +4.73% |
| 2024 | 270.99 | +6.48% |
| 2023 | 254.49 | +8.46% |
| 2022 | 234.63 | +13.57% |
| 2021 | 206.59 | +10.42% |
| 2020 | 187.10 | +3.58% |
| 2019 | 180.64 | +3.82% |
| 2018 | 174.00 | +4.09% |
| 2017 | 167.17 | +3.36% |
| 2016 | 161.73 | +2.37% |
| 2015 | 157.99 | +2.06% |
| 2014 | 154.80 | +2.16% |
| 2013 | 151.53 | +0.58% |
| 2012 | 150.66 | -2.62% |
| 2011 | 154.72 | -3.84% |
| 2010 | 160.90 | -3.43% |
| 2009 | 166.62 | -5.51% |
| 2008 | 176.33 | -2.46% |
| 2007 | 180.77 | +1.69% |
| 2006 | 177.77 | +8.61% |
| 2005 | 163.68 | +15.24% |
| 2004 | 142.04 | +13.69% |
| 2003 | 124.94 | +7.13% |
| 2002 | 116.62 | +8.59% |
| 2001 | 107.39 | +7.39% |
| 2000 | 100.00 | +5.84% |
| 1999 | 94.48 | +2.93% |
| 1998 | 91.79 | +2.63% |
| 1997 | 89.44 | +0.85% |
| 1996 | 88.69 | +1.11% |
| 1995 | 87.72 | -0.34% |
| 1994 | 88.02 | -0.73% |
| 1993 | 88.67 | -0.21% |
| 1992 | 88.86 | +0.36% |
| 1991 | 88.54 | -0.21% |
| 1990 | 88.73 | +1.34% |
| 1989 | 87.56 | +6.60% |
| 1988 | 82.14 | +17.70% |
| 1987 | 69.79 | +15.17% |
| 1986 | 60.60 | +9.78% |
| 1985 | 55.20 | +7.56% |
| 1984 | 51.32 | +8.32% |
| 1983 | 47.38 | +6.45% |
| 1982 | 44.51 | +1.27% |
| 1981 | 43.95 | +7.38% |
| 1980 | 40.93 | +12.94% |
| 1979 | 36.24 | +11.85% |
| 1978 | 32.40 | +7.78% |
| 1977 | 30.06 | +2.98% |
| 1976 | 29.19 | +1.07% |
| 1975 | 28.88 | — |
Methodology
The FHFA House Price Index is a weighted, repeat-sales index that measures average price changes in repeat sales or refinancings on the same single-family properties. The all-transactions index incorporates both purchase mortgages and refinance appraisals; the index is calibrated to the Northeast census region and rebased to 100 in the year 2000. Coverage begins in 1975 for Philadelphia.