A few months ago, we did a post entitled “The Best Places to Live in Philadelphia“, showcasing some of the best and most diverse neighborhoods in Philadelphia, including Queen Village, Art Museum Area, Northern Liberties and Graduate Hospital . While “best places” is subjective, and everyone is looking for something different, our list focused on Philadelphia neighborhoods with the most amount of activity- Whether this be a burgeoning community or residential and commercial development.
So what makes these new areas part of the “best places to live in Philadelphia”? These four new neighborhoods are growing everyday, bringing new residents, and new commercial development as well. Not only that, but real estate in these neighborhoods are still cheap! And will most likely appreciate in value over the next decade. If you’re looking to buy an affordable Philadelphia home in an up and coming neighborhood, then these are 4 more of the best places to live in Philadelphia:
- Spring Arts: What is Spring Arts you ask? While not a household name, this new neighborhood located East of Broad and North of Northern Liberties, the Spring Arts real estate market is growing considerably, adding tons of new construction homes (including 55 townhomes near 10th and Green streets), new bars and restaurants (such as Institute and LLama Tooth), and the biggest addition to the neighborhood, Union Transfer, a brand new music venue at 10th and Spring Garden.With affordable new housing, easy access to public transportation and Center City, and plenty of new bars and restaurants, Spring Arts real estate seems like a solid investment.
- Fishtown: So much more than an affordable alternative to NoLibs, Fishtown is quickly becoming the new place to be in Philadelphia. With a slew of new construction and revamped Fishtown homes for sale, destination restaurants and bars such as Stephen Starr’s Frankford Hall, and Barcade. But even with all this gentrification well underway, Fishtown real estate is still affordable- averaging a sold price of $160,000.
- Brewerytown: The neighborhood that was once the next hot area (this was before the economy really took a nosedive). Located north of The Art Museum Area/Fairmount, Brewerytown is continuing to grow. The Fairmount coffee shop Mugshots, has recently opened up a new location in Brewerytown, and bars like Era and North Star Bar make it a very trendy place to be. Although still rough around the edges, Brewerytown’s easy access to Center City and Girard Avenue, plus growing community of young professionals, make it a wise Philadelphia real estate investment.
- The Loft District: Located in the former ruins of Philadelphia’s warehouse district (north of Center City, South of Spring Garden), the loft district is a neighborhood still searching for an identity. Although, trendy bars such as the recently reopened Trestle Inn and Prohibition Tap Room are both attracting attention, and more and more warehouses being transformed into residential buildings, the neighborhood has yet to form a cohesive image. my best guess is that the loft district is still a few years away from being a hot neighborhood, but considering what developments are already in the works, plus the neighborhoods accessibility, real estate in Philadelphia’s Loft District will be a hot commodity in the years to come.
What Neighborhoods do you think should be added to our “Best Places to Live in Philadelphia” list?