Northern Liberties/Fishtown - Philadelphia

[Lisa Connelly]

Can anyone provide insight into the Northern Liberties/Fishtown rental market in Philadelphia? I'm thinking of buying a condo and wanted to get a better idea of the opportunities there. Thanks!

[Joe P.]

Very hot and very saturated area. If you got into it 10 years ago when it was essentially a dump, you would be a very happy and rich REI.

Rents are very high per square footage; if you buy a condo, you're buying it at a premium most likely. I would suggest looking at neighborhoods around that area -- for instance, Port Richmond is a NL/F "lite" area a bit north, but rents are up and home prices are not (non-new construction). Kensington is starting to explode as well -- never thought I would see the day -- but if you can find a decent block with fair pricing, go for it.