Introduction

Investing in rental properties can be a lucrative venture, offering steady income and potential appreciation. However, not all rental properties are created equal. The location of a rental property is a critical factor that can significantly influence its profitability. A good rental property is one that is situated in a desirable location, has good infrastructure, and offers amenities that attract tenants. Philadelphia County, PA, with its rich history, diverse neighborhoods, and vibrant culture, presents a prime location for rental property investments. This guide will provide an overview of the best neighborhoods in Philadelphia County, grading each area on convenience, tourist attractions, things to do, average home prices, return on investment, proximity to work-related travel, and unique features.

Best Neighborhoods in Philadelphia County, PA

1. Center City

Grades:

• Convenience: A
• Tourist Attractions: A+
• Things to Do: A+
• Average Home Prices: C
• Return on Investment: B+
• Proximity to Work-Related Travel: A+
• X-Factor: A

Convenience: Center City is the heart of Philadelphia, offering unparalleled convenience with numerous public transportation options, including buses, subways, and regional rail lines. It's a pedestrian-friendly area with a high Walk Score, making it easy for residents to navigate.

Tourist Attractions: Center City is a tourist hotspot, home to iconic landmarks such as the Liberty Bell, Independence Hall, and the Philadelphia Museum of Art. This area attracts a steady stream of visitors, making short-term rental properties highly desirable.

Things to Do: The vibrant cultural scene in Center City includes theaters, art galleries, and music venues. There are also numerous restaurants, bars, and cafes, ensuring there is always something to do.

Average Home Prices: The average home prices in Center City are higher compared to other neighborhoods, which can be a barrier to entry for some investors. However, the potential for high rental income can offset the initial investment cost.

Return on Investment: While the initial costs are high, the potential for rental income in Center City is substantial, making it a good investment for those looking for steady returns.

Proximity to Work-Related Travel: Center City's proximity to major business districts, hospitals, and convention centers makes it ideal for professionals. Additionally, its central location provides easy access to sports venues like the Wells Fargo Center.

X-Factor: What makes Center City unique is its blend of historical significance and modern amenities. The vibrant atmosphere and cultural richness make it a highly desirable place to live and invest.

2. University City

Grades:

• Convenience: B+
• Tourist Attractions: B
• Things to Do: A
• Average Home Prices: B
• Return on Investment: A
• Proximity to Work-Related Travel: A
• X-Factor: A

Convenience: University City is well-served by public transportation, including SEPTA trains and buses. It's also a bike-friendly area with dedicated lanes and bike-sharing programs.

Tourist Attractions: While not as tourist-heavy as Center City, University City offers attractions like the Penn Museum and various cultural events at the University of Pennsylvania and Drexel University.

Things to Do: The area boasts a lively scene with numerous restaurants, bars, and cultural venues. There are also plenty of parks and green spaces, providing a balanced urban lifestyle.

Average Home Prices: Home prices in University City are more affordable than in Center City, making it an attractive option for investors.

Return on Investment: The presence of major universities ensures a steady demand for rental properties, providing a reliable return on investment.

Proximity to Work-Related Travel: University City's proximity to educational institutions, hospitals, and research centers makes it ideal for professionals and students.

X-Factor: The youthful and academic vibe of University City, coupled with its diverse community, makes it a unique and appealing place for renters and investors alike.

3. Fishtown

Grades:

• Convenience: B
• Tourist Attractions: B
• Things to Do: A
• Average Home Prices: B+
• Return on Investment: A-
• Proximity to Work-Related Travel: B
• X-Factor: A

Convenience: Fishtown offers good public transportation options, though it's slightly less connected than Center City or University City. However, it's a walkable and bike-friendly area.

Tourist Attractions: Fishtown is known for its vibrant arts scene and unique attractions like the Fillmore Philadelphia and various street art installations.

Things to Do: The area is rich with trendy bars, restaurants, and music venues, making it a hotspot for nightlife and cultural activities.

Average Home Prices: Home prices in Fishtown are moderate, offering a good balance between affordability and investment potential.

Return on Investment: Fishtown's growing popularity and development make it a promising area for rental property investment, with a strong potential for appreciation.

Proximity to Work-Related Travel: While not as close to major business districts, Fishtown's accessibility to the city's core makes it convenient for work-related travel.

X-Factor: Fishtown's eclectic mix of culture, arts, and community-driven initiatives makes it one of the most unique and desirable neighborhoods in Philadelphia.

4. Manayunk

Grades:

• Convenience: B
• Tourist Attractions: B-
• Things to Do: B+
• Average Home Prices: B+
• Return on Investment: B+
• Proximity to Work-Related Travel: B
• X-Factor: A

Convenience: Manayunk is well-connected by public transportation, including regional rail and buses. Its hilly terrain and riverside location offer a unique living experience.

Tourist Attractions: While not a major tourist hub, Manayunk's historic Main Street and annual festivals attract visitors.

Things to Do: The area offers a variety of shops, restaurants, and outdoor activities, including hiking and biking along the Schuylkill River Trail.

Average Home Prices: Home prices in Manayunk are relatively affordable, making it an attractive option for investors.

Return on Investment: With its charming appeal and growing popularity, Manayunk offers a good return on investment potential.

Proximity to Work-Related Travel: Manayunk is a bit further from the city's core but offers convenient access to major highways and public transportation.

X-Factor: Manayunk's historic charm, vibrant community, and scenic location along the Schuylkill River give it a unique appeal that attracts both renters and investors.

5. South Philadelphia

Grades:

• Convenience: B+
• Tourist Attractions: B+
• Things to Do: B+
• Average Home Prices: B
• Return on Investment: A-
• Proximity to Work-Related Travel: A
• X-Factor: A

Convenience: South Philadelphia is well-served by public transportation and major highways, making it highly accessible.

Tourist Attractions: The area is home to sports venues like Citizens Bank Park and Lincoln Financial Field, attracting numerous visitors.

Things to Do: South Philadelphia offers a diverse array of dining options, cultural events, and shopping districts, including the famous Italian Market.

Average Home Prices: Home prices in South Philadelphia are moderate, providing a good entry point for investors.

Return on Investment: The area's development and proximity to major attractions make it a promising investment with good returns.

Proximity to Work-Related Travel: South Philadelphia's proximity to the city's sports venues, hospitals, and business districts makes it ideal for professionals.

X-Factor: The cultural diversity, vibrant community, and rich history of South Philadelphia give it a unique character that appeals to a wide range of tenants.

Conclusion

Philadelphia County offers a diverse array of neighborhoods, each with its own unique appeal and investment potential. Whether you're looking for the bustling urban experience of Center City, the academic atmosphere of University City, the cultural vibrancy of Fishtown, the historic charm of Manayunk, or the diverse community of South Philadelphia, there are plenty of opportunities to unlock the investment potential in this dynamic county. By considering factors such as convenience, attractions, home prices, and return on investment, you can make informed decisions that align with your investment goals.