4 Philly Neighborhoods for First Time Home Buyers
Buying your first home is a big deal. And we know it can be a bit overwhelming. So why don’t we start by talking about some neighborhoods that could be great to focus your search in. Not only will these be great areas to invest but they also can provide an incredible community within the city of Philadelphia.
The Vibe: For a long time, Northern Liberties was referred to as an up-and-coming area. But I think it’s safe to say it’s officially one of the hottest neighborhoods in Philadelphia, especially for young people. It was formerly an industrial area, but artists took this area by storm in the early 1990s filling it with galleries, boutiques and trendy eateries. It’s filled with fantastic restaurants, craft beer halls, a bustling nightlife and tons of shopping.
Location: It’s located just North of Old City and just South of Fishtown.
Housing: NoLibs in one of the fastest growing neighborhoods in the city. There are thousands of new residences coming to the area and the population is expected to nearly double. Get in while you can! There are many affordable new construction homes in this area. The average sale price as of July 2022 is $578,918.
The Vibe: Brewerytown got its name from the more than 20 breweries in the neighborhood pre-prohibition. Unfortunately, many of those breweries closed when prohibition hit, but now many of them have been turned into apartments and condos. This neighborhood has a great blend of rich history and modern developments. It continues to be among Philly’s most up-and-coming neighborhoods for investment, even as its popularity grows. It’s a favorite destination for young professionals and new families.
Location: This North Philly neighborhood is just above Fairmount. It runs from the Schuylkill River’s Eastern bank to 25th Street.
Housing: Brewerytown is great for first time home buyers because you can find an affordable home in a booming area that is expected to appreciate over the next several years as the neighborhood continues to grow. The average sale price as of July 2022 is $301,780.
The Vibe: Simply put, Fishtown is cool. The neighborhood continues to bring in younger working professionals, and many hip new businesses have followed this trend. Drawn in by the affordability, location and amenities, Fishtown has grown to be one of the most desirable neighborhoods to live in by millennials. Overall residents and visitors alike can enjoy a laid back community with plenty to do. It has a vibrant nightlife, cool beer halls, great shops, hip bistros and even a retro arcade.
Location: North of Girard, south of Lehigh, east of Front and west of the Delaware River. It's just north of Northern Liberties and South of Port Richmond.
Housing: Unlike other more established neighborhoods, in Fishtown the demand is high yet still affordable. It’s a mix of new construction as well as modest rowhomes. The average sale price as of July 2022 is $414,788.
The Vibe: This neighborhood is in the midst of a revitalization. It’s filled with longtime residents as well as newcomers hopping on the Point Breeze train. It has hip coffee shops, neighborhood bars, local markets and diverse restaurants with easy access to Center City. It’s home to a laid-back crowd of locals who love their community feel. Here you can also find pop up beer gardens and outdoor jazz concerts at certain times of the year. It’s also a very walkable and bike friendly neighborhood.
Location: West of Passyunk Square, south of Southwest Center City / Graduate Hospital, and east of Gray’s Ferry.
Housing: There is a ton of new construction development happening in Point Breeze. Plus many of the existing row houses have been renovated and modernized. The average sale price as of July 2022 is $352,148.