There’s no debating the city of Philadelphia is on an upswing. Millennials are moving in at a faster rate than anywhere else in the nation, housing prices are rising and commercial development is thriving.
But amid overarching change, a constant remains. The wealth in the region is still deeply entrenched in its suburbs.
A comprehensive data analysis from American City Business Journals using 12 varying data points related to population, housing values, income and education levels to rank the most affluent areas in the country showed that the Main Line continues to be home to Greater Philadelphia’s wealthiest households.
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It’s a finding that regional experts said speaks to the area’s strength among major U.S. markets vying for national economic vitality — as well as the dangers that come with a concentration of wealth in geographic areas.
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