health care sector
Coverage of health care sector in the Nexus archive.
- 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.
- Philadelphia is technically a buyer’s market, but housing economists say that’s misleading
Philadelphia's housing market is described as a buyer’s market, but economists argue this is misleading due to unaffordability, low inventory, and rising home prices driven by the city’s health care sector. High mortgage rates further limit affordability, particularly for first-time buyers.