Philippi is the home of Alderson-Broaddus College, a four-year liberal-arts college affiliated with the American Baptist Churches.
The city has a weekly newspaper, The Barbour Democrat.
As of the census of 2000, there were 2,870 people, 1,119 households, and 668 families residing in the city. The population density was 1,010.6 people per square mile (390.2/km²). There were 1,260 housing units at an average density of 443.7/sq mi (171.3/km²).
The racial makeup of the city was 94.77% White, 1.11% African American, 1.05% Native American, 0.87% Asian, 0.03% Pacific Islander, 0.42% from other races, and 1.74% from two or more races. Hispanic or Latino of any race were 0.80% of the population. In addition, the area has a significant population of racially mixed (though often light-skinned and blue-eyed) people, known locally as 'the Chestnut Ridge people', whose specific origins are uncertain. They are categorized by many scholars among the Melungeons found scattered throughout Appalachia.
There were 1,119 households out of which 27.4% had children under the age of 18 living with them, 44.7% were married couples living together, 11.3% had a female householder with no husband present, and 40.3% were non-families. 36.9% of all households were made up of individuals and 19.6% had someone living alone who was 65 years of age or older. The average household size was 2.25 and the average family size was 2.92.
In the city the population was spread out with 20.9% under the age of 18, 18.0% from 18 to 24, 22.7% from 25 to 44, 19.8% from 45 to 64, and 18.6% who were 65 years of age or older. The median age was 34 years. For every 100 females there were 78.5 males. For every 100 females age 18 and over, there were 74.2 males.
The median income for a household in the city was $21,528, and the median income for a family was $31,473. Males had a median income of $27,262 versus $20,579 for females. The per capita income for the city was $12,176. About 21.9% of families and 30.7% of the population were below the poverty line, including 39.0% of those under age 18 and 24.5% of those age 65 or over. Residents tend to be slower than average to adopt modern conveniences; for example, some households did not have telephones installed until the 1990s.