The fire broke out just before 6:50 a.m. on the 500 block of East Louden Street.
Neighbors said flames spread rapidly through the home, leaving the women - a 55-year-old and a 73-year-old - unable to escape. Both were rescued by firefighters and taken to Temple University Hospital, where they were last listed in critical condition.
"The fire was right there in the window. All of the smoke, it was so bad that the glass shattered and the flames came out," said neighbor Liza Nuñez.
She said her mother first heard the crackling and someone yelling "fire," prompting her to call 911. Nuñez said she tried to help with a garden hose before dispatchers instructed her to move back for her safety.
Fire crews arrived within minutes.
"Our ladder company with the engine was able to rescue both of them, where they received medical care and then were transported to a local hospital," said Brandon Wilson, battalion chief for the Fire Prevention and Code Division.
The home belonged to Julian Gonzalez's family. He said he rushed to the scene after receiving a call.
"My neighbor's son called and said there was a big fire and that I had to hurry up," he said.
Gonzalez and his fiancée were not inside at the time.
"Nothing's left. At all," said fiancée Jennifer Muniz.
Wilson said the department has been responding to more house fires than usual this year.
"It is a bit unprecedented. It's been a very, very busy year since the beginning for the year," he said.
Early trends, he added, point to causes such as smoking, improper home heating and misuse of extension cords.
Fire officials said there were no working smoke detectors inside the home. The Philadelphia Fire Department provides and installs smoke detectors free of charge for residents who call 311.
It took firefighters about 20 minutes to bring the blaze under control. The Fire Marshal's Office is investigating the cause.