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5 Hottest Neighborhoods in Philadelphia

12/17/2014

One look around the city of Philadelphia and it is obvious that the real estate market is making a comeback there; sold signs all over the city, new housing being built in the suburbs, and sales data up across the board. So, what areas of the city are the hottest right now? Which ones have the best new restaurants, amenities, growth in housing, increase in sales prices, etc.?

PhillyMag put together a list of their 15 hottest neighborhoods in Philadelphia. The criteria was weighted data that included average number of days on the market, sales increases, median price increase, median average salary of new residents, education levels of new residents, and many more.  This helped them contrive an accurate glimpse into the emerging trends in Philadelphia real estate. 

1. Graduate Hospital

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Median home price: $285,500. Increase in number of properties sold (2011 to 2012): 23 percent. Increase in residents with a B.A. or higher (2000 to 2010): 98.4 percent.

G-Ho, as it’s called locally, is an up-and-coming neighborhood for hipsters and young professionals. Though the median price is on the rise, deals can still be had and it is significantly safer than many of the areas surrounding it.

2. Fishtown/Kensington

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Median home price: $169,000.  Increase in median household income (1999 to 2011): 37.1 percent.  Increase in residents with a B.A. or higher (2000 to 2010): 218.1percent. 

One of the most affordable trendy neighborhoods in Philly, this neighborhood boasts demographics that range from empty nesters to recent college grads.

3. Avenue of the Arts District

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Median home price: $361,400.  Increase in median household income (1999 to 2011): 84.4 percent.  Increase in number of properties sold (2011 to 2012): 21.3 percent.

Centrally located downtown, this area has a number of new residential developments.  It’s more expensive, but it boasts one of the best locations on the list. 

4. Fairmount

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Median home price: $309,950. Increase in number of properties sold (2011 to 2012): 24.1 percent.  Increase in residents aged 20 to 54 (2000 to 2010): 15.9 percent.

City living with trees and a little more green space. New restaurants and housing continue to be redeveloped at a rapid clip.

5. Northern Liberties

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Median home price: $329,750.  Increase in median household income (1999 to 2011): 113.5 percent.  Increase in residents aged 20 to 54 (2000 to 2010): 64.2 percent.

The NoLo’s have transformed from an artist, hipster enclave to an up and coming neighborhood for well healed professionals. 

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Related Posts:

5 Hottest Neighborhoods in Washington, D.C.

The 5 Most Livable Neighborhoods in NYC

 

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