For those looking for a historical city, one need look no further than Philadelphia. A political hotbed during the American Revolution, the "City of Brotherly Love" is now the fifth-largest US city. Partly known for its arts scene nowadays, Philadelphia is an industrial city with a strong cultural presence.

Home-Hunting in Philadelphia

Philadelphia has been hit hard by the recent economic slowdown in the US, and many of the manufacturing jobs that were the cornerstone of the city's prosperity have been lost. As a result, homes in Philadelphia are quite inexpensive, and prices are staying pretty stable. The city is projected to lose nearly five percent of its jobs in the near future, and is in the midst of a significant exodus.

In this kind of situation, Philadelphia homes are attractive to the right buyer. While blue-collar jobs are being lost, there are still jobs to be found in the city. The US Mint and Federal Reserve Bank both have headquarters in Philadelphia, and other businesses are moving in to fill the gap left by manufacturing jobs.

The HUD's main focus in Philadelphia has been providing housing for low-income seniors. A recent investment in this community has been a big success, and takes a notable economic burden off many families in the city. This is but one example of how HUD's investments in local communities does more than simply house those who cannot afford it--these investments build stronger communities.