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The Philadelphia real estate market poses stark challenges for first-time home buyers, from low home supply to high competition, price inflation and rising mortgage rates. The popular Philly First Home program will resume giving out grants of up to $10,000 to help first-time buyers with down payment assistance costs, creating new pathways to home ownership. City planners and developers face difficult questions about affordable housing, new home construction, neighborhood preservation, gentrification, and the rising cost of apartment rentals for low- and middle-income residents. This in-depth Philadelphia real estate guide examines the city's housing landscape, policy challenges, community concerns and how strategies such as public land disposition could shape the city's future.