These days, it seems as though everyone wants to move to Philly. That can be great news for the city as a whole, but not so great news for people trying to buy in some of the more popular Philadelphia neighborhoods, such as Fairmount, Fishtown, or Point Breeze. With the increased demand comes increased prices. If you’re finding yourself priced out of some well known areas of the city, it can be worth your while to look to the north, south, east, or west of those areas to see what homes are available in up-and-coming Philadelphia neighborhoods.
Brewerytown
Think of Brewerytown as Fairmount’s cheaper, slightly cooler sibling. It’s located just above the Fairmount neighborhood (also sometimes called the Art Museum area). While homes in Fairmount average about $374,894, the average listing price in Brewerytown is $169,538. Lower housing costs aside, Brewerytown has a lot going for it. The neighborhood is right next to Fairmount Park, so you have easy access to trails, fields, and beautiful scenery. The Art Museum isn’t too far away and Girard Avenue, the main street in the neighborhood, has a number of stores and restaurants. Public transit options in the area include the number 15 trolley, which travels along Girard Avenue to Fishtown in the east and all the way to 63rd Street in the west.
Grays Ferry
The two neighborhoods next to Grays Ferry have seen dramatic increases in the cost of housing lately and in the number of restaurants and amenities opening in the area. The average listing price of a house in nearby Graduate Hospital, also called Southwest Center City, is now over $500,000. The average listing price in Point Breeze is $261,941. Compare that to the average listing price in neighboring Grays Ferry, which is $124,815.
The neighborhood has been dubbed the “next hottest neighborhood” by the Metro, because of recent and ongoing developments in the area. One of the more exciting developments in the area was the creation of the Grays Ferry Crescent, a park area and trail along the Schuylkill River. Along with giving residents a place to relax outdoors, the Crescent is also the site of free, outdoor movie nights in the summer.
Port Richmond
Fishtown might be the hipster heart of Philly, but if you’re looking for a good deal on a home, you might want to look slightly to the northeast, in Port Richmond. While the average listing price for a home in Port Richmond is $134,948, it’s over $400,000 in Fishtown. The perimeter of Port Richmond is dotted with big box stores and chain restaurants, but you’ll also find lots of smaller, locally owned shops throughout the neighborhood’s smaller streets. The area has a very large community of immigrants from Poland, and you’ll find hints of that history in the design of some cathedrals and in the number of Polish or Eastern European bakeries found throughout the neighborhood.
While there’s a lot that’s appealing about moving to one of Philly’s hot-spot neighborhoods, there’s also a lot that’s appealing about moving to a less well-known part of town. Lower home prices are just the start. When you pick a more up-and-coming neighborhood, you have more of a chance to be a part of a community.
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