Though the city’s median home price lands at $224,900 (according to NAR), there’s a variety of neighborhoods for various budgets and lifestyles for first-time home buyers or for buyers looking to downsize.
Drexel Hill is a suburban area where the median home value is $181,400, and most residents are homeowners, reports Niche. Buyers have a variety of home styles to choose from, including modern townhouses, Victorian homes, condos and more.
“It’s a great place for families and professionals alike, as there are many attractions for all ages, including parks, comic book stores and a performing arts center,” said Edwards.
And, he said, locals love the area because the convenience of public transportation makes it an easier commute to downtown.
Head north to Overbrook and buyers will find charming homes that have been revamped with more contemporary features like recessed lighting and new wood and tiled flooring. Buyers can find a home for about $156,000, according to Niche, in the diverse neighborhood with local amenities such as nearby shops and year-round indoor and outdoor activities.
Up-and-comers
When it comes to the college towns, Edwards said buyers are taking action due to the current residential developments happening.
“New homes are being built in University City, Brewerytown and other areas near Temple University, so this is a good time for buyers to start looking in these neighborhoods,” he said.
As Brewerytown continues to transform, residents are seeing new condos, long-awaited supermarkets, restaurants and bars.
Edwards said if buyers are looking for a secondary property, these neighborhoods also offer good investment opportunities.
“Anywhere close to a college provides a reliable rental income because of the steady influx of students and professionals,” he said.
Although visitors love the historic city for its many iconic attractions like the Liberty Bell, Independence Hall and the Benjamin Franklin Museum, its quaint neighborhoods and cultural communities are what residents appreciate, said Edwards.
“There’s something for everyone, whether you’re a nature lover who will enjoy Philadelphia’s countryside homes and the Delaware River waterfront or an art buff who will love frequenting one of the city’s many art institutions,” he said.