It happened around 3:30 a.m. at North Broad and Somerset streets.
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A witness told police that someone driving a white sedan struck the victim, knocking her out of her shoes.
Police say the 35-year-old woman was crossing North Broad Street at Somerset when the vehicle came by in the northbound lanes.
Neighbors say the problems along Broad Street are so bad they aren't surprised it happened.
"Traffic is horrible around here. You hear cars racing up and down all day, all night. This is a bad intersection for a lot of people," said Linda Felder who lives nearby. "You have to pay attention to the cars, not the lights, because people when they drive, they ignore the lights."
Crash investigators believe part of the striking vehicle's undercarriage fell off as the driver sped away.
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Investigators are now trying to narrow down the type of vehicle used but say they believe it's a white sedan, possibly a Toyota.
Justin Reyes didn't see the impact but heard the aftermath.
"I was up on the third floor when I heard that, watching a movie. It was loud, then I looked out the window everybody was screaming," said Reyes. "I never saw the car. He was gone within seconds of it happening."
Reyes says the victim frequently hung out in the area often seen walking up and down the street.
"She hangs out. Normally she sits right here. They spend much of the day out here, hanging around. I guess that's what she was doing when she got hit," said Reyes.
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According to the 6ABC data journalism team, there have been 21 deadly hit-and-runs in Philadelphia this year alone, and 15 involved pedestrians.
Those who live and work in this area say more needs to be done to regulate drivers.
"They have the cameras up like they have the boulevard, I think that would be a good idea," said Felder.
Police are asking area businesses to review security footage, as they search for the suspect.
Anyone with information is asked to call police at 215-686-TIPS.