In 1940, non-Hispanic whites constituted 86.8% of the city's population. The population peaked at more than two million residents in 1950, then began to decline with the restructuring of industry, which led to the loss of many middle-class union jobs. In addition, suburbanization had been drawing off many of the wealthier residents to outlying railroad commuting towns and newer housing. Revitalization and gentrification of neighborhoods began in the late 1970s and continues into the 21st century, with much of the development in the Center City and University City areas of the city. After many of the old manufacturers and businesses left Philadelphia or shut down, the city started attracting service businesses and began to more aggressively market itself as a tourist destination. Glass-and-granite skyscrapers were built in Center City. Historic areas such as Independence National Historical Park located in Old City and Society Hill were renovated during the reformist mayoral era of the 1950s through the 1980s. They are now among the most desirable living areas of Center City. This has slowed the city's 40-year population decline after it lost nearly one-quarter of its population.

When was the peak of Philadelphia's population?