{"id":64856,"date":"2019-01-15T05:00:34","date_gmt":"2019-01-15T13:00:34","guid":{"rendered":"https:\/\/redfindevelop.wpengine.com\/blog\/?p=64856"},"modified":"2020-10-06T19:46:52","modified_gmt":"2020-10-07T02:46:52","slug":"hottest-affordable-neighborhoods-2019","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/hottest-affordable-neighborhoods-2019\/","title":{"rendered":"Redfin Ranks the 10 Hottest Affordable Neighborhoods of 2019"},"content":{"rendered":"

Philadelphia and Baltimore feature heavily on this year\u2019s ranking of the hottest affordable neighborhoods in the country. <\/span><\/em><\/h3>\n

Every city has in-demand neighborhoods where buyers are clamoring to find homes. But with hotness comes price growth, which can make it difficult for the typical homebuyer to afford a home in the most popular parts of expensive areas. <\/span><\/p>\n

In this report, Redfin ranks the hottest affordable neighborhoods for the typical homebuyer. We\u2019re using a modified version of the methodology from our annual hottest neighborhoods report<\/a>. This report tracks year-over-year growth in listing views and favorites and incorporates Redfin agent insights to see which neighborhoods are growing in popularity, but with a price cap of $294,000, the median home price across all markets Redfin serves. <\/span><\/p>\n

\"hottest<\/figure>\n

This year, the hottest neighborhoods within reach are concentrated mostly in <\/span>Baltimore<\/span><\/a> and <\/span>Philadelphia<\/span><\/a>, two metro areas that are often considered affordable alternatives to <\/span>Washington, D.C.<\/span><\/a> and <\/span>New York<\/span><\/a>. Neighborhoods in <\/span>Chicago<\/span><\/a>, San Antonio<\/a> and the<\/span> Portland, Oregon<\/span><\/a> and <\/span>Boston<\/span><\/a> metro areas <\/span>also show up in the rankings. <\/span><\/p>\n

In the Baltimore area, the neighborhoods that appear in the rankings this year are all on the outskirts of the city in areas that are attractive to move-up buyers. \u201cA lot of people are moving away from the city center into places that feel more like suburbs,\u201d said Redfin agent <\/span>Rebecca Hall<\/span><\/a>. \u201cThey\u2019re moving to areas that don\u2019t feel as dense; they have more of a neighborhood feel and that\u2019s really appealing to homebuyers. You can get larger single-family homes rather than the row houses Baltimore is known for, and they\u2019re less expensive. Some of these pockets are also known for desirable charter schools.\u201d<\/span><\/p>\n

\n

Get local insights at a free Home Buying class<\/span><\/a><\/h3>\n
\n

Below is the complete list of Redfin\u2019s hottest affordable neighborhoods of the year. All statistics on median sale price, average sale-to-list price ratio and percent of homes that sold above list price are from November 2018.<\/span><\/p>\n

1. McKinley Park, Chicago, IL<\/a><\/span><\/h3>\n

Median sale price<\/strong>: $270,000<\/span>
\nMedian sale price for metro area<\/strong>: $230,000<\/span>
\nAverage sale-to-list price ratio<\/strong>: 97.9%<\/span>
\nPercent of homes that sold above list price<\/strong>: 35.1%<\/span><\/p>\n

\u201cHomebuyers are flocking to McKinley Park because it\u2019s just south of <\/span>Pilsen<\/span><\/a>, which is one of the trendiest neighborhoods in the country, and it\u2019s just west of long-established <\/span>Bridgeport<\/span><\/a>. People who are priced out of Pilsen are looking in McKinley Park,\u201d said Redfin agent <\/span>Niko Voutsinas<\/span><\/a>. \u201cPeople who live there have have excellent connectivity to downtown because it\u2019s right off the L and the expressway. The neighborhood has a beautiful park with public amenities, a pond and an outdoor swimming pool.\u201d <\/span><\/p>\n

2. East Mount Airy, Philadelphia, PA<\/a><\/span><\/h3>\n

Median sale price<\/strong>: $200,000<\/span>
\nMedian sale price for metro area<\/strong>: $199,000<\/span>
\nAverage sale-to-list price ratio<\/strong>: 98%<\/span>
\nPercent of homes that sold above list price<\/strong>: 28.1%<\/span><\/p>\n

\u201cEast Mount Airy is attractive to homebuyers because it\u2019s close to the center of the city <\/span>and transit options. It\u2019s also near Fairmount Park, which is one of the largest urban green spaces in the country. Compared to other neighborhoods in Philadelphia, homes tend to be reasonably priced and they\u2019re larger with lots of character,\u201d said <\/span>Elizabeth Tumasz<\/span><\/a>, a Philadelphia Redfin agent. \u201cEasy access to cafes, shopping, co-ops and bookstores is an added bonus.\u201d<\/span><\/p>\n

3. Parkville, Baltimore, MD<\/a><\/span><\/h3>\n

Median sale price<\/strong>: $204,900<\/span>
\nMedian sale price for metro area<\/strong>: $270,000<\/span>
\nAverage sale-to-list price ratio<\/strong>: 98.2%<\/span>
\nPercent of homes that sold above list price<\/strong>: 24%<\/span><\/p>\n

\u201cParkville is popular for people who want to live slightly outside the city of Baltimore. People appreciate that they\u2019re not too far from downtown, but the property taxes are less expensive and the homes tend to be larger,\u201d said Redfin agent <\/span>Juliana Weaver<\/span><\/a>. \u201cThere are also a lot of cute Cape Cod style homes in the area, so I always tell people about Parkville if they’re looking for that type of home.\u201d <\/span><\/p>\n

4. Hamilton, Baltimore, MD<\/a><\/span><\/h3>\n

Median sale price<\/strong>: $159,500<\/span>
\nMedian sale price for metro area<\/strong>: $270,000<\/span>
\nAverage sale-to-list price ratio<\/strong>: 98.5%<\/span>
\nPercent of homes that sold above list price<\/strong>: 31.6%<\/span><\/p>\n

\u201cOver the last few years, a lot of homes in the Hamilton area have been renovated and that trend is expected to continue. There\u2019s still a lot of room for it to grow,\u201d said Redfin agent <\/span>Juliana Weaver<\/span><\/a>. \u201cThe neighborhood is known for smaller single-family homes with small yards at a slightly lower price point than is typical for Baltimore. People love the neighborhood because there are a lot of local restaurants and small business.\u201d<\/span><\/p>\n

5. Fircrest, Vancouver, WA (Portland, OR metro area)<\/a><\/span><\/h3>\n

Median sale price<\/strong>: $282,500<\/span>
\nMedian sale price for metro area<\/strong>: $385,000<\/span>
\nAverage sale-to-list price ratio<\/strong>: 100.1%<\/span>
\nPercent of homes that sold above list price<\/strong>: 20%<\/span><\/p>\n

\u201cThis area is a mix of new construction and older homes with large yards that have been fixed up, and both options tend to be affordable,\u201d said Redfin agent <\/span>Rebecca Thompson<\/span><\/a>. \u201cIt\u2019s an easy commute for people who work in Portland, the homes aren\u2019t cookie-cutter and it\u2019s definitely getting more popular among buyers.\u201d<\/span><\/p>\n

6. Bustleton, Philadelphia, PA<\/a><\/span><\/h3>\n

Median sale price<\/strong>: $248,250<\/span>
\nMedian sale price for metro area<\/strong>: $199,000<\/span>
\nAverage sale-to-list price ratio<\/strong>: 98.1%<\/span>
\nPercent of homes that sold above list price<\/strong>: 29.4%<\/span><\/p>\n

\u201cBustleton is located in the far northeastern part of Philadelphia. It\u2019s attractive because properties tend to be priced lower than those in the center of the city. It\u2019s close to shopping centers and it\u2019s also close to public transportation and major highways, which makes for an easy commute to the center of the city,\u201d said Redfin agent <\/span>Elizabeth Tumasz<\/span><\/a>. \u201cHomebuyers like the area because they can stay in the city and still get that suburban feel. Homes in Bustleton tend to have nice, grassy yards, and there are a lot of coffee shops, restaurants and parks in the area.\u201d<\/span><\/p>\n

7. Linthicum, Baltimore, MD<\/a><\/span><\/h3>\n

Median sale price<\/strong>: $271,000<\/span>
\nMedian sale price for metro area<\/strong>: $270,000<\/span>
\nAverage sale-to-list price ratio<\/strong>: 99.4%<\/span>
\nPercent of homes that sold above list price<\/strong>: 37%<\/span><\/p>\n

\u201cLinthicum is a small suburb located just outside Baltimore, and it\u2019s becoming increasingly popular for homebuyers,\u201d said Redfin agent <\/span>Debra Morin<\/span><\/a>. \u201cIt\u2019s a quiet, well-established community with a small-town feel and several walking and running trails, including Andover Park and the BWI trail. Homes in Linthicum are relatively affordable and it\u2019s close to Baltimore Washington International Airport, with easy access to public transit and major highways.\u201d<\/span><\/p>\n

8. Lowell, MA (Boston metro)<\/a><\/h3>\n

Median sale price<\/strong>: $249,250<\/span>
\nMedian sale price for metro area<\/strong>: $471,100<\/span>
\nAverage sale-to-list price ratio<\/strong>: 102.5%<\/span>
\nPercent of homes that sold above list price<\/strong>: 38.9%<\/span><\/p>\n

\u201cLowell is an interesting area because it was known for textile mills back in its heyday, but it has struggled to find its economic footing in more recent times. But now we\u2019re seeing investors putting their money back into the area, with UMass and big-name local investors putting millions to work,\u201d said Redfin agent <\/span>David Pollack<\/span><\/a>. \u201cIt has a great downtown area with a lot of restaurants and bars, and it\u2019s home to a folk festival, a favorite in the summer. There\u2019s a commuter rail that takes you right into Boston, and it\u2019s also home to a minor league baseball team that brings in crowds. But you still get a lot of bang for your buck in Lowell, especially compared to bordering towns.\u201d<\/span><\/p>\n

9. Fox Chase, Philadelphia, PA<\/a><\/span><\/h3>\n

Median sale price<\/strong>: $219,000<\/span>
\nMedian sale price for metro area<\/strong>: $199,000<\/span>
\nAverage sale-to-list price ratio<\/strong>: 98.4%<\/span>
\nPercent of homes that sold above list price<\/strong>: 30.2%<\/span><\/p>\n

\u201cFox Chase is in Philadelphia, but it definitely has a suburban feel with a lot of ranch-style houses and twin homes with front yards. A lot of them have garages, too\u201d said Redfin agent <\/span>Michael Severns<\/span><\/a>. \u201cThe neighborhood is perfect for people who commute into the city because it has easy access to main thoroughfares like the Roosevelt Corridor and Highway 611. A lot of people who grew up closer to the city in places like Fishtown and Kensington eventually search for homes a little bit further out in Fox Chase.\u201d<\/span><\/p>\n

10. Beacon Hill, San Antonio, TX<\/a><\/span><\/h3>\n

Median sale price<\/strong>: $213,264<\/span>
\nMedian sale price for metro area<\/strong>: $220,000<\/span>
\nAverage sale-to-list price ratio<\/strong>: 98.5%<\/span>
\nPercent of homes that sold above list price<\/strong>: 46.2%<\/span><\/p>\n

\u201cBeacon Hill combines old San Antonio charm with 21st century urban living,\u201d said <\/span>Perry Sanders<\/span><\/a>, a Redfin agent who works in the area. \u201cThe architecture includes a mix of single-family homes, condominiums and townhouses. Combine that with Beacon Hill\u2019s plentiful shops and eateries, and you quickly understand why the neighborhood has gained popularity in recent years\u2014a trend that\u2019s likely to continue.\u201d<\/span><\/p>\n

Want more hot neighborhoods? Check out Redfin\u2019s ranking of this year\u2019s hottest overall neighborhoods in the country<\/a>, which includes a top 10 ranking and a list of hot neighborhoods for each of more than 40 metro areas. <\/span><\/p>\n

Methodology<\/span><\/h3>\n

Redfin\u2019s Hottest Affordable Neighborhoods algorithm is a prediction based on year-over-year growth in pageviews of listings and favorites on Redfin.com from June 1, 2017 through November 30, 2017 to June 1, 2018 through November 30, 2018 and on agent insights, with a price cap of $294,000, the national median. <\/span><\/p>\n

Names of some neighborhoods have been changed to reflect local parlance. For instance, we changed the name of Harford-Echodale-Perring Parkway in Baltimore to Parkville. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Philadelphia and Baltimore feature heavily on this year\u2019s ranking of the hottest affordable neighborhoods in the country. Every city has in-demand neighborhoods where buyers are clamoring to find homes. But with hotness comes price growth, which can make it difficult for the typical homebuyer to afford a home in the most popular parts of expensive 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