By Luis Vieira | Bricksave
December 23, 2024
News > Blog Article > Everything you need to know: Philadelphia
Known as the “City of Brotherly Love,” Philadelphia—often affectionately called Philly—is a dynamic city where history, culture, and opportunity come together. From its central role in the founding of the United States to its modern-day resurgence as a hub for residents and investors, Philly stands out as a place of progress and possibility.
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Philadelphia’s unique blend of historical significance, cultural richness, and revitalised urban spaces makes it a compelling destination for residents and investors alike. Its strategic location between New York City and Washington, D.C., offers the convenience of big-city access while maintaining its distinctive charm. Philly's thriving real estate market and growing appeal to movers across the country signal a bright future for this iconic city.
The name Philadelphia, derived from Greek, means “Brotherly Love,” reflecting the values of peace and unity that have shaped its history. Long before European settlers arrived, the region was home to the Lenape tribe as early as 8000 BC. During the 1600s, Dutch, English, and Swedish merchants established trading posts, setting the stage for the city’s future.
In 1681, King Charles II granted a charter to William Penn to establish the Pennsylvania colony. Penn, a Quaker committed to peace and human rights, signed a treaty with the Lenape tribe, making Philadelphia a beacon of progressive values. The city soon became the site of the New World’s first organized anti-slavery protest in 1688, laying the foundation for its enduring legacy as a defender of human rights.
As the birthplace of the American Revolution, Philly played a central role in the nation’s founding. In 1776, Thomas Paine’s Common Sense was published here, igniting revolutionary fervor, and the Declaration of Independence was signed in the city that same year. Philly also served as the first de facto U.S. capital and was pivotal during the Revolutionary War, despite a brief occupation by Loyalist forces.
Philly has long been a leader in civil rights. In 1775, the Pennsylvania Abolition Society (PAS), founded largely by Quakers, met in the city and paved the way for the establishment of the American Anti-Slavery Society. The State House Bell, later known as the Liberty Bell, became a powerful symbol of the city’s commitment to freedom and equality.
During the Civil War, Philadelphia’s contributions were indispensable, as the city supplied weapons, uniforms, and warships to the Union army. This legacy of fighting for justice solidified Philly’s reputation as a city committed to progress and equality.
Philly continued to evolve through the 20th century, thriving as a major shipbuilding hub during both World Wars and contributing significantly to wartime innovation. However, the post-war years brought challenges. New commuter towns, combined with a decline in manufacturing jobs, led to population loss and economic decline in the mid-1900s.
Since the 1980s, revitalisation efforts have brought new energy to Philadelphia. Projects like the redevelopment of Center City, with its condominiums, cultural attractions, and business hubs, have turned the city into a vibrant urban destination. By 2018, Philly had become the eighth most visited city in the U.S., a testament to its enduring appeal and transformation.
Philadelphia’s architecture reflects its layered history and evolving identity. Key styles include Art Deco, City Beautiful, and Colonial Revival. During the 1920s and 1930s, Art Deco influenced everything from homes to train stations. The City Beautiful movement introduced grand civic spaces and buildings to the city, enhancing its aesthetic and addressing urban overcrowding and pollution.
The Colonial Revival style gained traction following the 1876 Centennial Exhibition, held in Philly to celebrate the nation’s centennial. This nostalgic trend romanticised early American architecture and remains an enduring feature of the city’s landscape. Philly’s iconic brick houses, intricate cast iron facades, and towering skyscrapers create a unique skyline that marries history with modernity.
Philly’s real estate market is thriving, offering opportunities for both buyers and renters. Home values have seen impressive growth, with the Zillow Home Value Index now at USD 218,633—a 76% increase since 2016. Homes sell quickly, averaging just 22 days on the market, while the median sale-to-list ratio highlights strong demand.
The city’s rental market is equally robust, with a median rent of USD 1,600. Philly’s appeal attracts movers from major economic hubs like New York, Los Angeles, and Seattle, underscoring its nationwide draw. The city’s mix of affordability and opportunity continues to make it a hotspot for those seeking a dynamic urban lifestyle.
Explore Philadelphia real estate: vibrant neighbourhoods, growing opportunities.
Philadelphia, or Philly, is a city where the past and present come together to create a promising future. Its rich history, architectural beauty, and revitalised urban landscape make it an exceptional place to live, work, and invest. Whether you’re drawn by its cultural vibrancy, historical significance, or thriving real estate market, Philly offers something for everyone. It’s a city that continues to evolve, welcoming newcomers and investors alike with open arms.
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