Analyzing the overall ownership profile of SFR parcels and the neighborhood characteristics of properties owned by different types of investors yields these stylized facts

• Large corporate owned SFRs account for a sizable share of SFR rentals (8.8 percent) in Philadelphia as of 2023, but most large corporate investors are relatively small players, and major national corporations have little presence in Philadelphia.
• Spatially, neighborhoods with the largest shares of large corporate owned SFR properties are concentrated in West and Southwest Philadelphia, in neighborhoods such as Mantua (12.5 percent), Belmont (8.6 percent), Southwest Schuylkill (8.6 percent), East Parkside (8.3 percent), Mill Creek (8.3 percent), and Haddington (7.9 percent).
• Philadelphia neighborhoods with greater concentrations of large corporate investor activities are more likely to be lower-income, have a higher share of Black residents, and be more distressed neighborhoods. About 80 percent of large corporate owned SFR properties are in low-and moderate-income (LMI) neighborhoods, although only 59.9 percent of the noncorporate owned and 44.4 percent of owner-occupied SFR properties are in these LMI neighborhoods. Their average neighborhood share of non-Hispanic Black residents is over 60 percent (the overall share is about 40 percent for the city).
• SFR properties in Philadelphia recently sold to large corporate investors are even more concentrated in lower- income and more distressed neighborhoods. About 85 percent of such recent sales are in LMI neighborhoods, with an average neighborhood share of minority residents of over 88 percent and an average neighborhood poverty rate of 33 percent.
• Zip codes in Philadelphia with a larger share of recent SFR sales to large corporate investors generally experienced a larger increase in rents during the pandemic (with a correlation coefficient of about 0.5), although the correlation itself does not necessary imply any causal relationship.