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| 08/02/2024 In this issue of MarketRent™ powered by Clarendon, we spotlight North Philadelphia East, a prime example of the national shift towards walkable neighborhoods. Revitalized areas like Fishtown and Fairmount have seen rising demand and rental premiums, with Norris Square leading the way. Its compact layout, connected streets, and proximity to local amenities, including Norris Square Park, make it highly walkable. Recent upgrades in pedestrian infrastructure, like bike lanes and wider sidewalks, enhance its appeal. As demand for walkable living grows, North Philadelphia East is emerging as a key area for renters and real estate investors. We also share a variety of data tools and visualizations to help you understand the connection between walkability rental prices and development in North Philadelphia. |
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| RESEARCH Beyond Center City: Walkability Fuels Growth in Philadelphia's Outer Neighborhoods |
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| Philadelphia's real estate market is shifting towards walkable neighborhoods, with tenants paying more for convenience. North Philadelphia East, including Norris Square, is revitalizing with high demand due to its walkability, local amenities, and community park. Improvements in pedestrian infrastructure further boost its appeal, attracting developers and investors. Read more and also explore recent development in the area. |
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| RESEARCH Explore Developments in Norris Square Neighborhood |
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| Norris Square, a historic North Philadelphia East neighborhood, is undergoing vibrant transformation. With a rich heritage, it’s revitalizing through investments and resident efforts. The restored Norris Square Park, diverse housing, and recent infrastructure improvements boost its appeal. Its location near SEPTA, Temple University, and major thoroughfares, along with a diverse dining scene, makes it a prime area for growth. Norris Square’s blend of culture, affordability, and strategic location offers a strong investment opportunity in North Philadelphia's development. |
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