10 Richest Neighborhoods in Philadelphia

By PropertyClub Team
Apr 16th 2024
While Philadelphia, Pennsylvania, is particularly known for its rich history and delicious cheesesteaks, the city is also home to many wealthy communities. This list of the ten wealthiest neighborhoods in Philadelphia will guide you to the city’s most expensive areas. 

hash-mark10 Richest Neighborhoods in Philadelphia

  1. Fitler Square
  2. Rittenhouse Square
  3. Washington Square West
  4. Queen Village
  5. Graduate Hospital
  6. West Mount Airy 
  7. Society Hill
  8. Fairmount
  9. Northern Liberties
  10. Roxborough

hash-mark1. Fitler Square

The richest neighborhood in Philadelphia is Fitler Square. Situated between Center City and Schuylkill River, this predominantly residential area is known for its picturesque tree-lined streets, historic architecture, and charming, small-town atmosphere. Residents will also find a strong local community and active civic association which organizes local events like neighborhood cleanups, tree plantings, farmers’ markets, and more.

While the area is home to several notable landmarks like the Schuylkill River Trail, the most popular attraction is its namesake, Fitler Square Park, a beautiful green space with a dog park, playground, and community garden. Homes for sale in Fitler Square average $1.4 million, making it the most expensive neighborhood in Philadelphia. 

hash-mark2. Rittenhouse Square

The second-richest neighborhood in Philadelphia is Rittenhouse Square. Conveniently located only 1.5 miles from downtown, this upscale residential area sits just east of Fitler Square and is home to about 13,000 people. The neighborhood is particularly known for its affluent atmosphere, vibrant nightlife, and luxury architecture, and residents here will find a variety of urban amenities at their fingertips.

The crown jewel of this area is Rittenhouse Square Park, a beautiful green space that is a prime spot for picnics, outdoor concerts, and other community events. Homes for sale in Rittenhouse Square average $564k, making it the second-most expensive place to live in all of Philadelphia. 

hash-mark3. Washington Square West

Washington Square West is the richest Philadelphia neighborhood for those who desire convenient access to everything the city has to offer. Situated less than 1 mile from Center City, this area provides its residents with the most convenient location of any neighborhood on this list. But, in addition to this ideal commute, Washington Square West is also considered desirable for its historic architecture, diverse resident base, and bustling nightlife scene.

An epicenter for the arts, this neighborhood is home to several important cultural institutions, including the Pennsylvania Academy of the Fine Arts and the Wilma Theater. Other draws to this neighborhood include its abundance of bars, clubs, restaurants, and Washington Square Park. Home values here average $544k, making Washington Square West one of the most expensive neighborhoods in Philadelphia. 

hash-mark4. Queen Village

Queen Village is a wealthy and thriving community located about 1.5 miles southeast of Center City. It is a popular place to live for many of Philadelphia’s most affluent residents. This area is best known for lush, forested streets and charming historical architecture – both of which help keep local real estate prices averaging close to $543k.

The neighborhood’s antique homes have been well preserved, and many have also been renovated to accommodate its nearly 8,000 residents. Those who live in Queen Village can expect a thriving arts and cultural scene, which includes numerous galleries, boutiques, and theaters. Other popular attractions include the weekly farmers market, the Philadelphia Magic Gardens, and a vibrant selection of dining options. A neighborhood with plenty of potential, Queen Village is not to be overlooked when considering the richest neighborhoods in Philly.

hash-mark5. Graduate Hospital

Graduate Hospital is another one of the wealthiest neighborhoods in Philadelphia. Located just 2.0 miles from Center City, this affluent neighborhood is named after the nearby Graduate Hospital, which is part of Penn Medicine. It is home to roughly 15,000 people, as well as some of the city’s most coveted real estate.

Well-known for its diverse community and bustling commercial district, this area is best suited for young professionals, hipsters, and anyone else who prefers vibrant nightlife. Particular hotspots here include South Street West corridor, which possesses a variety of restaurants, bars, and shops, and Julian Abele Park, a family-friendly area that hosts many local events. Home values here average $520k, making Graduate Hospital an essential part of Philadelphia’s wealthiest neighborhoods. 

hash-mark6. West Mount Airy 

West Mount Airy is another one of the richest neighborhoods in Philadelphia. Located in Northwest Philly, West Mount Airy is home to about 12,635 residents. The community is known for its diverse population, gorgeous architecture, art-galleries and horseback riding trails that attract affluent residents from all over.

So, it’s no surprise that West Mount Airy is one of the most affluent communities in Philadelphia with a median household income of $72,000 per year. However, it’s also a relatively affordable area and the average home price is $444,992. 

hash-mark7. Society Hill

In addition to being one of the richest neighborhoods in Philadelphia, Society Hill is also one of the most historic. Situated in the heart of Center City, this area is known for its well-preserved Federal and Georgian-style architecture, cobbled streets, and stunning local greenspaces. The neighborhood is home to several historic sites, such as the Powel and Physick Houses, and was one of the first neighborhoods in the country to be designated a National Historic Landmark District.

Apart from its rich history, the area is also considered desirable for its upscale amenities, forested streets, and peaceful atmosphere. With so much to offer, it’s no wonder that homes for sale in Society Hill average $434k. 

hash-mark8. Fairmount

Another one of Philadelphia’s richest neighborhoods is Fairmount. This area is located about 1.4 miles northwest of Philly’s City Center and offers its residents a combination of beautiful homes, cultural attractions, and natural greenspaces. The most prominent landmarks in this area include the Philadelphia Museum of Art, home of one of the largest and most diverse collections of art in the country, and the Eastern State Penitentiary, a former prison that now serves as a museum.

Residents can also enjoy Fairmount Park, an urban park that features miles of walking, running, and biking trails, as well as several historic mansions, gardens, and sculptures. With home prices averaging at $432k, Fairmount is another premier choice for wealthy Philadelphia living. 

hash-mark9. Northern Liberties

Northern Liberties is a wealthy area with plenty to offer. Located about 2.0 miles north of Center City, this area has recently become one of the city’s trendiest areas. The area is known for its unique blend of old and new, with historic buildings and streetscapes sitting alongside modern shops, restaurants, and bars.

Favorite hotspots in Northern Liberties include the Philadelphia Shakespeare Theatre and the Piazza at Schmidt’s – a popular outdoor plaza featuring several restaurants, shops, and large-scale public art installations. With its walkability and easy access to public transportation, it’s not surprising that home values here average close to $410k. 

hash-mark10. Roxborough 

Roxborough is also one of the wealthiest neighborhoods in Philadelphia. Roxborough is situated on the banks of the Schuylkill River in Philadelphia’s 21st Ward. It has a population of about 14,131 residents. It’s a popular neighborhood for families and offers great schools, active community organizations and a low violent crime rate. 

It’s also one of the wealthier cities in Philadelphia with a median household income of $67,700. About 30% of households in Roxborough make over 6-figues per year. Yet Roxborough is also quite affordable, and the average home price is $331,905.