Homebuying in the Philly area is more expensive than last year. Here’s why

New data show that homebuying in the Philadelphia area has become less affordable, requiring an income of just over $94,000 a year to afford a typical home in June. The median sale price for a home in the Philadelphia metro was $337,988, marking a 4.5% increase from the previous year. Economists suggest this price growth is strongly linked to pressure created by the city’s robust health care sector, which increases jobs and housing demand.