Economic Opportunity

Philadelphia has long held the ignoble title of the nation's poorest big city. While that title has since been assumed by Houston, Philly's poverty rate is still stubbornly high--just under 20%. Mayor Cherelle Parker campaigned on increasing economic opportunity in the city, and her actions so far have focused on primarily on housing and jobs. This includes her $2 billion Housing Opportunities Made Easy, or H.O.M.E., initiative, as well as efforts to make running a business in the city easier.

Initiatives

Buildings, including a food store and a new apartment property, on the 3300 Block of Fairmont Ave in Philadelphia

Housing Opportunities Made Easy (H.O.M.E.)

An aerial view from a rooftop on Magee Avenue in the Cheltenham neighborhood of Philadelphia, Pennsylvania, United States February 22, 2025

Progress Updates

2 of 4

Parker stands by ambitious housing plan before hearing on its first-year budget

(Philadelphia Tribune) Mayor Cherelle Parker told The Philadelphia Tribune on Tuesday that she has seen the city's historically high percentages of homeownership, particularly among Black residents, dropping over the years.

Parker shared this insight one day before City Council opens hearings on the inaugural budget for her ambitious housing initiative called the Housing Opportunities Made Easy Program, also called H.O.M.E. A $194.6 million budget for the first year of the program was submitted to Council on Oct. 30, and it must pass Council before the city issues its first $400 million tranche of bonds to fund it.

Relevant Neighborhood
City-Wide

Mayoral priorities include expanding access to housing and jobs 

In her 2024 inaugural address, Mayor Cherelle Parker pledged to: 

  • Create and preserve affordable housing
  • Streamline the city's Land Bank process
  • Remove red tape with "PHL Open for Business" initiative
  • Remove college degree requirements for many city jobs

Key offices and efforts

  • H.O.M.E Housing Plan, which the administration said would produce and preserve 30,000 housing units for Philadelphians across levels of affordability.
  • PHL Open for Business, an effort to reduce cost and complexity for business owners navigating city government

Key quotes

  • “Beyond public safety, there is no more pressing issue for Philadelphia than access to housing,” said Mayor Cherelle L. Parker. “We are ready now [to move forward] as One Philly, A United City!” (City Council address, Mar 2025)

  • "I made it clear before I took the oath of office that all Philadelphians must have access to the path of self sufficiency that includes access to 21st century, world-class education; affordable, luxury housing; and the opportunity to do business in Philadelphia." (State of the City, Dec 2024)

Related News

1 of 1
Three content creators: Davida Janae (@phillyinfluencermixer), Candice Nguyen (@tropicalcandice) and Cierra Williams (@cierralikeseggs) (Madasyn Andrews for Technical.ly and Metro Philly)
The Lenfest Institute

Can Philly’s creator economy help rewrite the city's upward mobility story?

Creators Davida Janae (@phillyinfluencermixer), Candice Nguyen (@tropicalcandice) and Cierra Williams (@cierralikeseggs) (Madasyn Andrews for...

Explore Other Issues Areas

Philadelphia Skyline with Greenery in Foreground From Drexel Park

Clean & Green

Philadelphia, Pennsylvania, USA downtown skyline from the Benjamin Franklin Bridge.

Public Safety

Philadelphia, Pennsylvania, USA downtown city skyline at dusk.

Solutions Progress Report

The Solutions Progress Report tracks updates on the key issues and initiatives of Philadelphia Mayor Cherelle Parker's administration.