Number of Houses by Type

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Number of Houses by Type


Row houses account for 70% of all housing units in Philadelphia while 40% of renters live in single-family homes.

Row Houses are the Majority

  • Row houses account for 70% of all housing units in Philadelphia.
  • Three and four-bedroom houses are the most common building sizes in Philadelphia and are mainly found in row houses.
  • About 75% of row houses in Philadelphia are more than 50 years old.
  • About 50.56% of residents own their houses while 49.44% are renters.

Single-Family Homes have a High ROI

  • About 40% of Philadelphia renters "live in single-family homes".
  • In 2019, single-family homes that were in real estate listing constituted 16% of the total inventory in Philadelphia.
  • According to Mashvisor, the median property price for single-family homes is $281,200, while the average market cap rate is 2.1%.
  • Single-family home prices are 14% less than the city median level and are "the third most profitable property type for traditional rental properties after townhouses and multi family homes".
  • Small families and young professionals are the target market for single-family homes.

Large Inventory for Townhouses

  • According to Mashvisor, the 2020 housing market in Philadelphia will be dominated by townhouses.
  • In 2019, two-thirds of real estate listings were made up by townhouses and this is expected to be the case in 2020.
  • Townhouses offer "the highest return on investment for both traditional Philadelphia investment properties and Airbnb Philadelphia rentals".
  • According to Mashvisor, the standard cap rate for townhouses is 2.7%. The cap rate (4.3%) for Airbnb is above the city average.
  • According to Mashvisor, the median property price for townhouses is $295,300.


The majority of houses in Baltimore are row houses while detached houses make up 14% of all housing units.

Single-Family Homes Growth

  • Detached homes (single-family) make up 14% of all housing units in Baltimore.
  • Baltimore has a high substitute for return (SFR) potential. It also has a high annual gross potential (28.9 percent).
  • Baltimore's single-family rental is projected to grow by 18.5%.
  • Home building activity for single-family homes was strong in "from 2000 through 2006, when an average of 300 homes were permitted annually".

Attached Houses are the Majority

  • Row houses in Baltimore make up over 50% of all housing units.
  • One unit attached houses make up 52% of all housing units.
  • Construction activity for multi-family homes averaged 680 annually from 2000 to 2005, from 2006 to 2015 the activities increased to 930 units annually.
  • From 2015 to March 2016 630 units were permitted.

Duplex/Triplex for House-Sharing

  • According to city laws, residents can only rent out their primary residences for a short term basis.
  • In order to be able to rent out housing on a short term basis, investors can buy duplex/triplex and "live in one of the housing units and rent out the rest as short term rental properties".
  • The price of Duplex units in Baltimore is from $67,000.


Condos dominate the property market in Chicago with a market share of 52%. High costs of labor, land, and materials have made affording single-homes difficult.

Condos Dominate Housing Market

  • According to Marshvisor, condos dominate the property market in Chicago with a market share of 52%.
  • Condos are also "expected to be significantly more expensive than single-family homes". Their average price is $488,000 while single-family homes sell at $325,600.
  • Most of the people attracted to condos are the working class. The main markets for condos in Chicago are Grand Boulevard, Kenwood, and Lincoln Square.
  • In 2019, the preference for single-family homes and condos was equal.

Declining Single-Family Home Inventory

  • Although "79% of residential land is zoned for detached single-family homes", according to Nodara, there has been a declining inventory of both attached and detached single-family homes from 2012.
  • The current market share of single-family homes is 28%.
  • Due to shifts in employment and economic uncertainties, many people are unable to buy single-family homes in Chicago leading to a higher number of renters.
  • High costs of labor, land, and materials have made affording single-family homes difficult.

Multifamily Homes Demand

  • The demand for multifamily properties is projected to remain strong in 2020. Rent growth is expected to grow by 4.5 percent.
  • The number of constructed multifamily units have been on increase since 2010.
  • In 2010, the number of permitted multifamily was 2000. This has increased to 8,625 in 2016. In 2019, 10,470 units were anticipated to be placed on the market.
  • According to Chicago Realtor, the majority of the 16,000 units that are under construction are multifamily units.
  • The rising cost of land, labor, and materials has made it difficult for people to afford single-family homes.
  • According to Chicago Realtor, these costs will affect the construction of multifamily units in the next six to eight quarters.

Research Strategy

Although our team was able to gather some insight related to types of houses in the assigned cities, there ultimately is very little additional data available that could be explored. In an effort to locate this information and data, exhaustive research was carried out to analyze the housing department of the cities, market reports, and the US census report.

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