Pennsylvania is home to three of the top 10 most undervalued cities in America, with Philly taking second place.
That's according to a new report by SmartAsset, which found that based on livability, real estate values in Pittsburgh (1), Philadelphia (2), and Allentown (8) are lower than they should be.
In other words, Philadelphians are getting the most bang for their buck.
The researchers came up with a model that estimated a city's home value per square foot based on livability, or how "desirable" a place is to live. They looked at crime, weather, high school graduation rates, walkability, and unemployment.
In Philly, the report noted that one of the key aspects that's drawing millennials to the city is its walkability—it has a walk score of 77, which makes it one of the most walkable cities in the country. Based on that metric, and the seven others, the SmartAsset model found that the home value per square foot for Philadelphia should be $228.06. In reality, the average value is about $92 per square foot.
Still, while Philly is more affordable than other major cities (we're looking at you, San Francisco), this ranking comes on the heels of the news that millennials, at least, say they can't afford to buy homes in Philly.
Either way, we're happy to ride this whole "Hey, I had no idea Philly was so awesome and affordable" wave while we can.
- The most undervalued cities in America [Official]
- Why millennials aren't buying homes in Philly [Curbed Philly]
- Here's how much money you need to live comfortably in Philly [Curbed Philly]
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