HomeDiagramsDatabaseMapsForum
     

Go Back   SkyscraperPage Forum > Global Projects & Construction > City Compilations

Reply

 
Thread Tools Display Modes
     
     
  #18701  
Old Posted Today, 2:53 AM
3rd&Brown 3rd&Brown is offline
Registered User
 
Join Date: Oct 2007
Posts: 593
Quote:
Originally Posted by FourS View Post
The median family home price in Seattle is $777,000, and $154,400 in Philadelphia. The extra $3000 a month you have in your pocket from that more than offsets the 7% city and state taxes for most people (which are deducted from federal income tax also lessening their sting a bit). The extra 2.1% sales tax in Seattle is not deductible afaik.
Not to mention property tax rates are meaningless without understanding the basis against which they are applied.

Sometimes the tax is applied as a percentage of an assessment. Sometimes it's applied as a percentage of the actual value. Sometimes, jurisdictions make updates to estimated values every year. Other just at every sale. And others still in periodic overall adjustments.

In many Pennsylvania suburbs, assessments are almost never updated. Thus, it might appear the % of the tax is higher compared to another jurisdiction, but it could just be that it is applied to an arbitrary value that has not been updated in years.
Reply With Quote
     
     
  #18702  
Old Posted Today, 6:54 AM
mattejb mattejb is offline
Registered User
 
Join Date: Feb 2011
Posts: 42
Quote:
Originally Posted by FourS View Post
The median family home price in Seattle is $777,000, and $154,400 in Philadelphia. The extra $3000 a month you have in your pocket from that more than offsets the 7% city and state taxes for most people (which are deducted from federal income tax also lessening their sting a bit). The extra 2.1% sales tax in Seattle is not deductible afaik.
Both the Philadelphia family and Seattle family would get the $24,000 federal tax deductible. Paying more in property tax has no benefit. Sales tax is deductible if itemized, but they wouldn’t because neither would have more than $24000 in deductions.

Show me a house in Philadelphia for $154k that is equivalent to a $777k house in Seattle. Quality of life remember.

Edit: The higher income, higher growth rate, and lower taxes of Seattle, and Philadelphia’s 60% increase of land, and 85% decrease of water, might have something to do with home prices. Then we could start talking school systems, public safety, energy prices (Seattle:7.75¢/kWh Philadelphia: 12.9¢/kWh). I think we at about $1550+ a month of take home for the hypothetical Seattle person over the Philadelphia person.

Last edited by mattejb; Today at 7:47 AM.
Reply With Quote
     
     
  #18703  
Old Posted Today, 3:30 PM
Capsule F Capsule F is offline
Registered User
 
Join Date: Aug 2003
Location: 16th and green
Posts: 1,820
Quote:
Originally Posted by mattejb View Post
Both the Philadelphia family and Seattle family would get the $24,000 federal tax deductible. Paying more in property tax has no benefit. Sales tax is deductible if itemized, but they wouldn’t because neither would have more than $24000 in deductions.

Show me a house in Philadelphia for $154k that is equivalent to a $777k house in Seattle. Quality of life remember.

Edit: The higher income, higher growth rate, and lower taxes of Seattle, and Philadelphia’s 60% increase of land, and 85% decrease of water, might have something to do with home prices. Then we could start talking school systems, public safety, energy prices (Seattle:7.75¢/kWh Philadelphia: 12.9¢/kWh). I think we at about $1550+ a month of take home for the hypothetical Seattle person over the Philadelphia person.

I could show you many many houses in Philadelphia at least 400k less than their exact equivalent in Seattle. Income in Seattle isn't nearly higher enough to account for these differences. We understand the unspoken reason that white people enjoy living in these bubbles, lets not kid each other.

Frankly, its tacky to compare utility rates between cities where one has massive subsidies being accounted for by those who can pay.
Reply With Quote
     
     
  #18704  
Old Posted Today, 3:40 PM
Capsule F Capsule F is offline
Registered User
 
Join Date: Aug 2003
Location: 16th and green
Posts: 1,820
Quote:
Originally Posted by mattejb View Post
Both the Philadelphia family and Seattle family would get the $24,000 federal tax deductible. Paying more in property tax has no benefit. Sales tax is deductible if itemized, but they wouldn’t because neither would have more than $24000 in deductions.

Show me a house in Philadelphia for $154k that is equivalent to a $777k house in Seattle. Quality of life remember.

Edit: The higher income, higher growth rate, and lower taxes of Seattle, and Philadelphia’s 60% increase of land, and 85% decrease of water, might have something to do with home prices. Then we could start talking school systems, public safety, energy prices (Seattle:7.75¢/kWh Philadelphia: 12.9¢/kWh). I think we at about $1550+ a month of take home for the hypothetical Seattle person over the Philadelphia person.
"Seattle ranks eighth on the list of most unaffordable U.S.-only cities." https://www.point2homes.com/news/can...h-america.html

This is from one year ago, I can imagine its only gotten worse for Seattle when it comes to affordability.
Reply With Quote
     
     
  #18705  
Old Posted Today, 5:04 PM
mattejb mattejb is offline
Registered User
 
Join Date: Feb 2011
Posts: 42
[QUOTE=Capsule F;8405061We understand the reason that people enjoy living in these bubbles...[/QUOTE]

An ugly side of Philadelphia being a poor city is the crime rate.

Homicide Per 100,000 (2016)
Philadelphia 17.4
Seattle 2.7
Reply With Quote
     
     
  #18706  
Old Posted Today, 5:26 PM
McBane McBane is offline
Registered User
 
Join Date: Sep 2006
Location: Philadelphia
Posts: 2,918
Seattle is definitely an expensive city as far as real estate goes. But one thing to keep in mind is that Seattle's and Philadelphia's housing stock are so different. Philadelphia's housing stock was mostly built for the typical middle class worker 100+ years ago: compact rowhomes, many without central air, off-street parking, or first floor bathrooms. Today, these homes only appeal to working class families and are thus priced accordingly.

In short, if the city had more of this, this, or this and less of this, this or this, the average price would be higher. Not Seattle high, but higher than what it is now. Outside of a few select neighborhoods, there is a limit to what someone will pay for the types of homes that dominate the city.
Reply With Quote
     
     
  #18707  
Old Posted Today, 5:48 PM
Redddog Redddog is offline
Registered User
 
Join Date: Apr 2016
Location: Philadelphia
Posts: 316
Quote:
Originally Posted by mattejb View Post
An ugly side of Philadelphia being a poor city is the crime rate.

Homicide Per 100,000 (2016)
Philadelphia 17.4
Seattle 2.7
It's getting worse, too.

This year we're up 10% from last year in homicides.
Reply With Quote
     
     
  #18708  
Old Posted Today, 5:49 PM
mcgrath618 mcgrath618 is offline
Registered User
 
Join Date: Jan 2017
Location: University City, Philadelphia, PA
Posts: 739
Quote:
Originally Posted by Redddog View Post
It's getting worse, too.

This year we're up 10% from last year in homicides.
Unfortunate side effect of an underfunded police department.
In fact, at the roots, I bet a lot of these problems could be traced back to Harrisburg's neglect of Philadelphia. We give them a huge portion of their taxbase and get nothing back for it. I don't think that that's the WHOLE reason Philadelphia tends to struggle, but I know it's definitely a big contributor.
Reply With Quote
     
     
  #18709  
Old Posted Today, 6:28 PM
Redddog Redddog is offline
Registered User
 
Join Date: Apr 2016
Location: Philadelphia
Posts: 316
Quote:
Originally Posted by mcgrath618 View Post
Unfortunate side effect of an underfunded police department.
In fact, at the roots, I bet a lot of these problems could be traced back to Harrisburg's neglect of Philadelphia. We give them a huge portion of their taxbase and get nothing back for it. I don't think that that's the WHOLE reason Philadelphia tends to struggle, but I know it's definitely a big contributor.
That and an out-of-control drug epidemic....
Reply With Quote
     
     
  #18710  
Old Posted Today, 6:40 PM
Capsule F Capsule F is offline
Registered User
 
Join Date: Aug 2003
Location: 16th and green
Posts: 1,820
Quote:
Originally Posted by Redddog View Post
That and an out-of-control drug epidemic....
That and it not being a White bubble like Seattle which is sadly why people like mattejb like it. 80.1% white.
Reply With Quote
     
     
  #18711  
Old Posted Today, 6:46 PM
Capsule F Capsule F is offline
Registered User
 
Join Date: Aug 2003
Location: 16th and green
Posts: 1,820
GDP:

Philadelphia metro - 444,975
Seattle metro - 356,572

Looks like Seattle has a way to go to be in the big leagues.

Mass transit ridership:

Philadelphia: 91,772,000
Seattle: Doesn't even rank so I cannot find

Looks like Seattle has a ways to go in density and transit.

World Class Cultural Institutions:

Philadelphia: Many
Seattle: None

Looks like Seattle has a while to go in their cultural scene.
Reply With Quote
     
     
  #18712  
Old Posted Today, 6:47 PM
Capsule F Capsule F is offline
Registered User
 
Join Date: Aug 2003
Location: 16th and green
Posts: 1,820
I can keep going all day with stupid apples to oranges comparisons.
Reply With Quote
     
     
  #18713  
Old Posted Today, 8:12 PM
PhilliesPhan's Avatar
PhilliesPhan PhilliesPhan is online now
Registered User
 
Join Date: Aug 2014
Location: Philadelphia Area
Posts: 649
Quote:
Originally Posted by McBane View Post
Seattle is definitely an expensive city as far as real estate goes. But one thing to keep in mind is that Seattle's and Philadelphia's housing stock are so different. Philadelphia's housing stock was mostly built for the typical middle class worker 100+ years ago: compact rowhomes, many without central air, off-street parking, or first floor bathrooms. Today, these homes only appeal to working class families and are thus priced accordingly.

In short, if the city had more of this, this, or this and less of this, this or this, the average price would be higher. Not Seattle high, but higher than what it is now. Outside of a few select neighborhoods, there is a limit to what someone will pay for the types of homes that dominate the city.
Aside from the last image, which includes a massively blighted block in Strawberry Mansion, what is less desirable about the other two? I and many other people I know would much rather prefer to live in a rowhome than in a detached, suburban-style home. Rehabbed rowhomes are, in many cases, vastly superior to the other images that you offered.

The price of RE depends on price per square foot ($/ft^2), which is driven by a variety of factors. This is the reason why a two-story rowhome in Fishtown will sell for a higher premium than a two-story rowhome in Kingsessing, for example. I don't think that the problem is our housing stock at all; in fact, the city has a variety of housing styles to accommodate a myriad of housing needs. The problem is that certain neighborhoods lack the amenities to justify a $/ft^2. The demand simply won't be there in certain neighborhoods that don't have amenities such as neighborhood retail, restaurants, transit access, etc.

The best thing that the city can do is invest in itself to attract a greater level of market demand. We have a surplus of cash and a strong municipal bond rating, so why aren't we floating bonds to build new heavy rail (we need heavy rail, not other forms of transit) rapid transit lines? We also need to continue to improve the schools, attract new businesses (especially large, out-of-metro companies), and work to make the tax environment less onerous. I find the housing stock in North and West Philly to be vastly superior everything built after the 1950s in the Northeast, and so do many others. Those neighborhoods just need an amenities boost.
__________________
No one outsmarts a Fox!

Temple University '18 ']['
Reply With Quote
     
     
  #18714  
Old Posted Today, 8:18 PM
PhilliesPhan's Avatar
PhilliesPhan PhilliesPhan is online now
Registered User
 
Join Date: Aug 2014
Location: Philadelphia Area
Posts: 649
Quote:
Originally Posted by mattejb View Post
An ugly side of Philadelphia being a poor city is the crime rate.

Homicide Per 100,000 (2016)
Philadelphia 17.4
Seattle 2.7
Anyone who is actually from the city knows that their chances of being affected by those statistics are slim to none, given that they generally exercise caution in certain neighborhoods at certain times. I've walked through every neighborhood in this city, and I have yet to be affected by gun violence. The vast majority of those murders occur within the boundaries of certain neighborhoods, and typically between people who know each other that engage in a verbal altercation. I live in West Philly's Cedar Park neighborhood, and I literally never worry about becoming a victim of those statistics.
__________________
No one outsmarts a Fox!

Temple University '18 ']['
Reply With Quote
     
     
  #18715  
Old Posted Today, 8:32 PM
Baconboy007 Baconboy007 is offline
Registered User
 
Join Date: Oct 2013
Posts: 453
Quote:
Originally Posted by Capsule F View Post
I can keep going all day with stupid apples to oranges comparisons.
We even have them beat in yearly rainfall. Suck it Seattle!!
Reply With Quote
     
     
  #18716  
Old Posted Today, 9:01 PM
allovertown allovertown is online now
Registered User
 
Join Date: Sep 2013
Posts: 716
Quote:
Originally Posted by McBane View Post
Seattle is definitely an expensive city as far as real estate goes. But one thing to keep in mind is that Seattle's and Philadelphia's housing stock are so different. Philadelphia's housing stock was mostly built for the typical middle class worker 100+ years ago: compact rowhomes, many without central air, off-street parking, or first floor bathrooms. Today, these homes only appeal to working class families and are thus priced accordingly.

In short, if the city had more of this, this, or this and less of this, this or this, the average price would be higher. Not Seattle high, but higher than what it is now. Outside of a few select neighborhoods, there is a limit to what someone will pay for the types of homes that dominate the city.
So you basically don't like row homes? I feel like you can be kicked out of Philly for an awful opinion like that.
Reply With Quote
     
     
End
 
 
Reply

Go Back   SkyscraperPage Forum > Global Projects & Construction > City Compilations
Forum Jump


Thread Tools
Display Modes

Forum Jump


All times are GMT. The time now is 9:35 PM.

     

Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2018, vBulletin Solutions, Inc.