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Thursday, May 16, 2019

THE FOODIST / TEN HOT AFFORDABLE U.S. NEIGHBORHOODS & WHERE TO EAT THERE




Redfin, the Seattle-based real estate firm, says the Linthicum neighborhood in south-central Baltimore is the 7th best affordable neighborhood in the U.S. to buy a home.  Pillar toPost.org is tagging on to Redfin’s report by adding a cool restaurant from that ‘hood. G&M Restaurant.
One of the nation’s leading online realtors says expensive coastal hubs remain the most coveted places to live, but current research shows neighborhoods in Baltimore and Philadelphia are gaining popularity as the most desired affordable neighborhoods in 2019, according to
Redfin's Hottest Affordable Neighborhoods report is an adaptation of the annual Hottest Neighborhoods report. The Hottest Affordable Neighborhoods report determines which hot neighborhoods are within reach for the average homebuyer by incorporating a price cap of $294,000, the national median home price.

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

Below is the complete list of Redfin.com's hottest affordable neighborhoods
this year research and an industry trends research from Redfin (www.redfin.com), a NASDAQ traded real estate brokerage based in Seattle, Washington. All statistics on median sale price, average sale-to-list price ratio and percent of homes that sold above list price are from late 2018.

ADDED: Hot restaurants in each neighborhood were added by PillartoPost.org, publisher of the blog you are currently viewing.

Here’s the List

1. McKinley Park, Chicago, IL
Median sale price: $270,000
Median sale price for metro area: $230,000
Average sale-to-list price ratio: 97.9%
Percent of homes that sold above list price: 35.1%

"Homebuyers are flocking to McKinley Park because it's just south of Pilsen, which is one of the trendiest neighborhoods in the country, and it's just west of long-established Bridgeport. People who are priced out of Pilsen are looking in McKinley Park," said Redfin agent Niko Voutsinas. "People who live there have have excellent connectivity to downtown because it's right off the L and the expressway. The neighborhood has a beautiful park with public amenities, a pond and an outdoor swimming pool."
Cool Restaurant:  Huck Finn’s, 3414 S. Archer, Chicago, 24-7; family style and known for its Becky Thatcher biscuits and hub cap size Texas doughnuts.

Earth Bread + Brewery, 7136 Germantown Ave. in nearby Mt. Airy
2. East Mount Airy, Philadelphia, PA
Median sale price: $200,000
Median sale price for metro area: $199,000
Average sale-to-list price ratio: 98%
Percent of homes that sold above list price: 28.1%

"East Mount Airy is attractive to homebuyers because it's close to the center of the city and transit options. It's 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're larger with lots of character," said Elizabeth Tumasz, a Philadelphia Redfin agent. "Easy access to cafes, shopping, co-ops and bookstores is an added bonus."
Brew Pub: Earth Bread + Brewery, 7136 Germantown Ave. in nearby Mt. Airy

3. Parkville, Baltimore, MD
Median sale price: $204,900
Median sale price for metro area: $270,000
Average sale-to-list price ratio: 98.2%
Percent of homes that sold above list price: 24%

"Parkville is popular for people who want to live slightly outside the city of Baltimore. People appreciate that they're not too far from downtown, but the property taxes are less expensive and the homes tend to be larger," said Redfin agent Juliana Weaver. "There are also a lot of cute Cape Cod style homes in the area, so I always recommend Parkville to people looking for that type of home."
Top restaurants: No shortage in the area for top seafood and the beer boiled crab and crab cakes that make this ‘hood a culinary.  Pappas Restaurant is a busy but tasty local.  Taylor and Oakleigh Rd.

4. Hamilton, Baltimore, MD
Median sale price: $159,500
Median sale price for metro area: $270,000
Average sale-to-list price ratio: 98.5%
Percent of homes that sold above list price: 31.6%

"Over the last few years, a lot of homes in the Hamilton area have been renovated and that trend is expected to continue. There's still a lot of room for it to grow," said Redfin agent Juliana Weaver. "The 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."
Local pub:  Hamilton Tavern, 5517 Harford Rd. Farm to table pub standards and wide selection of microbrews.

5. Fircrest, Vancouver, WA (Portland, OR metro area)
Median sale price: $282,500
Median sale price for metro area: $385,000
Average sale-to-list price ratio: 100.1%
Percent of homes that sold above list price: 20%

"This 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," said Redfin agent Rebecca Thompson. "It's an easy commute for people who work in Portland, the homes aren't cookie-cutter and it's definitely getting more popular among buyers."

6. Bustleton, Philadelphia, PA
Median sale price: $248,250
Median sale price for metro area: $199,000
Average sale-to-list price ratio: 98.1%
Percent of homes that sold above list price: 29.4%

"Bustleton is located in the far northeastern part of Philadelphia. It's attractive because properties tend to be priced lower than those in the center of the city. It's close to shopping centers and it's also close to public transportation and major highways, which makes for an easy commute to the center of the city," said Redfin agent Elizabeth Tumasz. "Homebuyers 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."
Ethnic eats: Pierogi Factory, 9965 Bustleton Ave.  No better Polish cuisine than Philly.

7. Linthicum, Baltimore, MD
Median sale price: $271,000
Median sale price for metro area: $270,000
Average sale-to-list price ratio: 99.4%
Percent of homes that sold above list price: 37%

"Linthicum is a small suburb located just outside Baltimore, and it's becoming increasingly popular for homebuyers," said Redfin agent Debra Morin. "It's a quiet, well-established community with a small-town feel and several walking and running trails, including Andover Park and the BWI trail. Linthicum has relatively affordable housing and it's close to Baltimore Washington International Airport, with easy access to public transit and major highways."
Crabcake central: G&M Restaurant & Lounge, 804 N. Hammonds Ferry Road, Linthicum Heights.

Mill City BBQ & Brew, 1018 Gorham St. Ain’t the prettiest but there’s pure taste coming out of this weathered brick café.
8. Lowell, Boston, MA
Median sale price: $249,250
Median sale price for metro area: $471,100
Average sale-to-list price ratio: 102.5%
Percent of homes that sold above list price: 38.9%

"Lowell is an interesting area because it was known for textile mills back in its heyday, but it has struggled to find its footing in more recent times. But now we're seeing investors putting their money back into the area, with UMass and big-name local investors putting millions to work," said Redfin agent David Pollack. "It has a great downtown area with a lot of restaurants and bars, and it's home to a folk festival, a favorite in the summer. There's a commuter rail that takes you right into Boston, and it's 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."
Cozy Neighborhood joint:  Mill City BBQ & Brew, 1018 Gorham St. Ain’t the prettiest but there’s pure taste coming out of this weathered brick café.

9. Fox Chase, Philadelphia, PA
Median sale price: $219,000
Median sale price for metro area: $199,000
Average sale-to-list price ratio: 98.4%
Percent of homes that sold above list price: 30.2%

"Fox 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" said Redfin agent Michael Severns. "The 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."
Brew pub:  Iron Hill Brewery & Restaurant, 785 Huntington Pike (mall).

10. Beacon Hill, San Antonio, TX
Median sale price: $213,264
Median sale price for metro area: $220,000
Average sale-to-list price ratio: 98.5%
Percent of homes that sold above list price: 46.2%

"Beacon Hill combines old San Antonio charm with 21st century urban living," said Perry Sanders, a Redfin agent who works in the area. "The architecture includes a mix of single-family homes, condominiums and townhouses. Combine that with Beacon Hill's plentiful shops and eateries, and you quickly understand why the neighborhood has gained popularity in recent years—a trend that's likely to continue."

The full Hottest Affordable Neighborhoods report, complete with research methodology, is available here: https://www.redfin.com/blog/2019/01/hottest-affordable-neighborhoods-2019.html. To read the full Hottest Neighborhoods report, including a list of the top three neighborhoods in each of 41 major metro areas, please visit: https://www.redfin.com/blog/2019/01/hottest-neighborhoods-2019.html.
Cool bistro: So Hill Café, 1719 Blanco Rd., Italian. Classic pizzas.

South Hill Cafe, San Antonio, Texas
About Redfin
Redfin (www.redfin.com) is the next-generation real estate brokerage, combining its own full-service agents with modern technology to redefine real estate in the consumer's favor. Founded by software engineers in 2006, Redfin claims the country's #1 brokerage website and offers a host of online tools to consumers. Redfin serves more than 85 major metro areas across the U.S. The company has closed more than $60 billion in home sales.


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