Philadelphia’s economy is currently ranked as one of the nation’s strongest for the first time in generations, writes Mark Zandi for The Philadelphia Inquirer.
The city boasted the strongest job growth last year among the 25 largest metropolitan areas with populations in the millions, rising 1.2 percent in 2025.
Other major development projects also indicate strong economic success. This includes the transformation plans for the area around the stadiums, the redevelopment of Southwest Philly’s oil refinery, and the work being done at Penn’s Landing and the Science Center.
Philadelphia’s economy looks especially strong compared to other metropolitan areas amid nationwide economic challenges. While most cities are struggling to create jobs, Philly is in a unique position.
The city is powered by healthcare and education, two industries that are consistently expanding their payrolls across America.
The region’s largest employers are some of the highest-rated healthcare and higher education institutions, including Thomas Jefferson University, University of Pennsylvania, Temple University, and the Children’s Hospital of Philadelphia.
Other successful industries, like Vanguard, Comcast, SAP, and Siemens, also call the Philly region home.
While it’s still expensive to live and work in Philly, the city’s typical home value of $400,000 is far more affordable than New York and D.C. prices.
Read more about how Philadelphia’s economy is among the nation’s strongest and how it achieved this distinction in The Philadelphia Inquirer.
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