In 2021, the median price of a single-family home in Philadelphia rose by 10%, and it’s only going to get better for investors.
Finding the right neighborhood to invest in is key to getting a good return on investment and interest from buyers. But knowing which neighborhood to choose takes insider knowledge and plenty of research. Maybe that’s why you’re here; you’re not sure which area will be the most lucrative for you.
Sounds familiar? No worries; we’ve got you. Here’s where to buy investment property in Philadelphia.
If you’re searching for up-and-coming neighborhoods in Philadelphia, Brewerytown is for you. Note, prices for houses are low and are expected to skyrocket soon, so get in there quickly.
Piqued your interest? Then, work with a reputable service like McSherry Property Management to land your dream investment property.
Investors looking for the best neighborhoods to invest in Philadelphia should try Fishtown. It has a reputation for quick sales as the area is attractive to younger generations like millenials. Plus, students and artists are attracted to this part of Philly.
Before you Google “investment properties for sale near me,” make sure you consider East Falls. Located in Northwest Philly, East Falls is renowned for its green spaces and slower pace of life. It’s also home to premium-quality schools, so it’s no wonder families are always searching for properties here.
Investors buying property in Philadelphia must add Kensington to the list. Nestled between North Liberties and Fishtown, this booming neighborhood is evolving for hip crowds. Because of this, there are plenty of renovated condos and lofts for you to invest in and earn a killing.
Grays Ferry is arguably the best place to buy investment property in Philadelphia. It’s located in Southwest Center City, where you can take advantage of new developments and rehabbed homes. Plus, buyers and renters find this spot attractive as it’s near the Schuylkill River.
East Mt. Airy
Although it’s a bustling business district, there is a range of property styles, perfect if you’re following a strict budget. For instance, you can invest in colonial homes or single-family units, depending on your desired size. Thanks to its location, families, and youngsters flock to this neighborhood to take advantage of the different amenities available.
Otherwise known as Philly’s Garden District, Chestnut Hill is the go-to stop, thanks to the different styles of homes. It’s also attractive for families are there’s a fantastic selection of private schools and higher education opportunities. Chestnut Hill is also a desirable place to settle down as it has stunning parks and a host of community events.
Where to Buy Investment Property in Philadelphia
Hopefully, you now know where to buy investment property in Philadelphia.
There are many great options, such as the quieter neighborhoods of Chestnut Hill and East Falls. You can also find fantastic properties in Brewery Town and East Mt. Airy. Good luck with your search!
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