Where should a yuppie live downtown? (Washington, Penn: highrise, real estate, budget)

[YuppieMBA]

I have a job offer to work in downtown Philly and would like to understand the Philly real estate market before making a decision. Knowing that prices and quality vary greatly by the many micro markets and neighborhoods in a downtown urban area, I am looking for some help from the blog-o-sphere.


Our first concern is being close to a vibrant downtown area with restaurants, shops, and things to do. We come from Boston so we have become very used to walking to work and having access to a city on foot. In Boston we lived in Beacon Hill and Back Bay; we would love to live in a comparable area in Philly. Basically, where do all the Yuppies live?


We are planning on buying a condo/townhouse/home if and when we move. My question is what neighborhoods should I be looking to get a gauge on the Philly real estate market?


Price is not a primary concern but safety, proximity, services, and community are.

[lititzman2003]

Originally Posted by YuppieMBA

I have a job offer to work in downtown Philly and would like to understand the Philly real estate market before making a decision. Knowing that prices and quality vary greatly by the many micro markets and neighborhoods in a downtown urban area, I am looking for some help from the blog-o-sphere.


Our first concern is being close to a vibrant downtown area with restaurants, shops, and things to do. We come from Boston so we have become very used to walking to work and having access to a city on foot. In Boston we lived in Beacon Hill and Back Bay; we would love to live in a comparable area in Philly. Basically, where do all the Yuppies live?


We are planning on buying a condo/townhouse/home if and when we move. My question is what neighborhoods should I be looking to get a gauge on the Philly real estate market?


Price is not a primary concern but safety, proximity, services, and community are.

My first thought would be the Queen Village area. Safe and close to South Street and Penn's Landing. Must be tough to leave Boston! Good luck with your new job.

[Tone509]

I'd say you'd be comfortable in most every neighborhood in Center City. Old City, Society Hill, Washington Square West, Rittenhouse Square, Fitler Square, Graduate Hospital, Queen Village, Bella Vista and (a bit of a stretch) the Art Museum and Fairmount are all areas where you'll find a lot of young urban professionals, occasionally mixed in with empty-nesters and optimistic families. Our downtown is only two square miles so you won't have a problem walking. Transit is convenient enough if more expensive than Boston.

[john_starks]

^^ yeah, QV is great. so is Society Hill & Old City. i love this whole Penns Landing section of Philly (of course, i'm biased ). but the home of the "Yuppie" is Rittenhouse Square.

[bryson662001]

Basicly this entire map is the downtown core (locals call it Center City) On the far right is the oldest part of the city, Society Hill, Queen Village and Old City. Society Hill and Queen Village (19106) are filled with restored 18th century townhouses (and some very modern ones as well) It is also a very tourist heavy area. Old City is more loft type buildings and is full of bars and resturants and nightlife. Moving west there is Washington Square, surrounded by several high rise condos and larger townhouses, many subdivided. To the north is Market East retail area and Chinatown, not the best place to actually live but nice to be close to. West of Washington Sq, the "Wash west" neighborhood (19107) has lots of students and other younger people and includes a large area called the GAYborhood. Come to Broad St (19102) which divides the area in half and is lined with office buildings and more upscale shopping. West of Broad St is the city's financial district north of Chestnut St and South of Chestnut is the Rittenhouse Square neighborhood (19103). Walnut St west of Broad is the upscale shopping district. Around Rittenhouse is the most desirable and expensive residential district but most people live in highrises as it is too expensive and crowded for single family houses (there are a few). South and west of the square the streets are lined with very large late 19th century and victorian houses, most subdivided into condo or rental apartments. North of the financial district is the Logan square and Fairmount/art museum neighborhood (19130) which has many more single family townhouses, mostly victorian or late 20th century. Through out the entire map you will find highrise condos mixed in with single family houses. All of these neighborhoods except maybe Chinatown and Market east are highly desireable places to live, with Society Hill and Rittenhouse Square being the most posh. They all offer resturants, hotels and retail choices. One realtor who specializes in better condos is allandomb.com if you want to check his website. Otherwise realtor.com using the various zip codes on the map should get you started.

[PhillyIndy]

Rittenhouse for Yuppies
Yuppies with kids go the Fairmount
Old money Yuppies Society Hill
QV is fine but if money is of no concern Society Hill and RIttenhouse would be best

[Hobokenkitchen]

Do you have a budget in mind at all? That will make a big difference on where you look. The most expensive and exclusive area to live is Rittenhouse Square with expensive condos on the actual square , and wonderful row homes and brownstones in the adjoining blocks.

Society Hill is absolutely charming, and while being a touch cheaper than Rittenhouse is pretty much as exlusive.

Washington Square is a good option, but slightly less exclusive than Rittenhouse or Society Hill. Still a fabulous area though.
Queen Village is more affordable and grittier.
Art Museam is more removed from the center but does have it's own restaurants - just not that many of them. It's worth a look, but we prefer being more central.
Your budget may end up making the decision for you.

Good luck and welcome!

[YuppieMBA]

I am less interested in what a fixed dollar amount buys me than I am getting market numbers of comparable neighborhoods across the various places I am looking to live: Baltimore; Hoboken; Philly; NYC; and Boston. Saying I have $XXX to buy a place means very different things in different cities and neighborhoods; I find that determining the cost across different cities for a similar living situation is telling. Then offsetting that with the salary I will be paid for that lifestyle makes evaluating offers much easier.

Thank you for all your help, now it is time to search the internet and talk to a realtor.

[newmarlig]

All of the areas suggested would be fine. Will you be able to come to the city and walk around? Center City (and I'm including Fairmount, Old City and Queen Village) is very walkable. That would be the best way to tell where you would be most comfortable. Another thing, parking will be a problem. Unless you absolutely need a car, you might want to look into: www.phillycarshare.com

[doubledownmom]

rittenhouse square