The rich and varied ambiance of life in the city is appealing to millennials and neighborhoods like Philadelphia’s Fishtown offer access to the best of city life with rich culinary offerings, eclectic art galleries, an interesting music scene, and dynamic and growing businesses. Ranging in age from 23-37, millennials are no longer children and hold significant buying power. They will also outgrow the baby boomer generation very soon making them powerful in both size and stature.
What does all this mean for Philly real estate? Places like Fishtown are gaining traction with millennials as those neighborhoods offer the best the city has to offer to younger adults, both singles and those starting families. Fishtown’s community also appeals to empty nesters, entrepreneurs, hipsters, and yuppies. The schools in Fishtown are inviting, there are parks, and green space, and Fishtown supports a vibrant community life. The El connects residents to downtown Philly in less than 15 minutes and Fishtown has a high walkability score. Even with its many restaurants and a bustling nightlife, Fishtown is a quiet community, where a block or two off the Frankford and Girard Avenues corridor, one can feel like their in the suburbs.
Those born between 1981-1996 are often values-based and make purchasing decisions based on those values. Values can include environmental concerns and quality time with friends and family. As such, homes that are energy efficient and leave a small environmental footprint can be popular, as well as floor plans that allow for entertaining. Along with many other neighborhoods in Philly, Fishtown was once a neighborhood of row homes. Those row homes are now mixed with new construction that often stays true to the character of the neighborhood, but also offers open floor plans, deck space, high ceilings, and a modern feel.
Making a Move
In short, millennials have immense purchasing power and know what they want. This is what makes Fishtown (and Philly) such an amazing spot for millennials and other buyers — Fishtown’s transformation is an example of how neighborhoods retain the best of themselves while evolving to become more diverse and sustainable over time.
Contact me today if you’d like to view homes in Fishtown and the surrounding areas.