It may be worthwhile to study what happened home owners that bought prior to 2006. The market crashed later that year and those that had ARMs had a lot of difficulty holding onto their homes. Some also had difficulty holding on because of lost income or failed attempts at trying to take advantaged of government programs that reduced mortgage balances. ...
Your options are the same as if prices had not changed. You bought the home, you own it now regardless of what the surrounding market has done.
Those options are:
Sell the home, likely at a loss and after a long listing period
Live in the home. It's change in value won't change that arrangement much.
Rent the home, per your numbers at a slight loss
Leave it ...
The city of Philadelphia has three types of income taxes:
Wage Tax: This is tax that is withheld from your paycheck by your employer if you either work in the city or you live in the city and work in Pennsylvania.
Earnings Tax: This is paid by anyone who lives in the city and is employed (not self-employed; other types of taxes apply to them) and does not ...