For both newcomers and locals, the City of Brotherly Love offers an enticing combination of opportunity and livability within its own perimeter, as well as its satellite cities thanks to the abundance of family-friendly neighborhoods, rich cultural legacy, and a thriving economy. Also, foreclosures in Philadelphia are alternative investment vehicles.
Philadelphia truly embodies the spirit of American ingenuity and tenacity. It is a city rich in history, vibrant in terms of ongoing infrastructural development, with an affordable housing market ripe for investment.
Find Foreclosures in Philadelphia
The city is home to 48 distinct neighborhoods, each with its unique charm and personality. You can find properties inspired by the postmodern architecture movement in areas like Chestnut Hill, while Delancey Street and Society Hill have homes reminiscent of Victorian and Federalist styles. The architectural creativity of the city is commensurate with its historical significance. Independence Hall is the birthplace of American democracy, while the West Philadelphia Elevated railroad was a revolution in urban transportation at the time of its construction.
If you are interested in investment properties, there are highly affordable options in the Philadelphia foreclosure market. As per Philadelphia foreclosure data compiled by Auction.com, the average sale price of these homes has been increasing by 4% from Q1 to Q2, 2024. This historical data suggests you can sell back foreclosed properties into the community for considerable profit, in turn strengthening the neighborhood. With foreclosures, you go through a more transparent and streamlined purchase process than with a retail home sale. You can also find $1 houses for sale in Philadelphia.
There is a particularly high concentration of foreclosure homes in North and Northeast Philadelphia residential neighborhoods flanked by the Schuylkill and Delaware Rivers. However, if you are looking for homes away from the bustling Philadelphia metropolis, below are some family-friendly suburban alternatives with comfortable proximity to this city, all situated within the Philadelphia metropolitan area.
Upper Darby, PA
This Delaware County township, 7.5 miles from Philadelphia, has recently evolved into a dynamic, sustainable community. Upper Darby is known for its multicultural community, the historic Tower Theatre music venue and many Underground Railroad sites. It provides more affordable housing than Philadelphia. Home prices have gone up 4.9% since last year as per Redfin’s May 2024 data, hinting at a favorable investment arena here, including $1 houses for sale in Philadelphia.
Chester, PA
Chester was at the center of an 18th-century industrial revolution led by the construction of canals and eventually developed into a tourist destination. As per Rent.com data for June 2024, Chester’s rental rates have trended upward Year-over-Year. Chester is a haven for soccer fans as the Subaru Park Stadium, home of the Philadelphia Union soccer team is situated here. Situated along the Delaware River, this city is about 18 miles away from Philadelphia.
Bensalem, PA
Located 19 miles away, Bensalem Township is nearly as old as Philadelphia itself. The city consists of some gaming and entertainment centers like Parx Casino and Racing, which regularly hosts premier comedy acts and prestige boxing events. It is home to Neshaminy Mall, one of the first malls to be constructed in America. In terms of residential properties, you can find everything from historical mansions and contemporary single-family dwellings to several recently constructed condominiums and townhouses.
Levittown, PA
One of the largest suburbs in the Philadelphia metropolitan area and 26 miles away from the metro, Levittown has 42 neighborhoods that offer an idyllic lifestyle that doesn’t skimp on style with its signature architecture originated by the Levitt brothers. Opportunities for recreation in Highland Park and Hollow Park as well as fishing and swimming in Van Scriver Lake draw outdoor enthusiasts to this community-driven residential town.
Just outside the Pennsylvania border, other towns also offer proximity to the Philadelphia metro-area.
Camden, NJ
This New Jersey town is situated just over 5 miles from Philadelphia, eastward across the Delaware River. The PATCO Speedline and the Benjamin Franklin Bridge make Philadelphia easily accessible from here. The city is undergoing revitalization efforts, particularly along its waterfront, which features attractions like the Adventure Aquarium and the BB&T Pavilion. Investors may be able to capitalize on these improvements in amenities to get better returns soon.
Trenton, NJ
Located about 33 miles from Philadelphia, this New Jersey city is home to a burgeoning arts and sports scene alongside renowned educational institutions like Princeton and Thomas Edison State University. Also located here are the Capital Philharmonic Orchestra of New Jersey and the Cure Insurance Arena which hosts international music sensations and large-scale sports events.
Wilmington, DE
As the state of Delaware’s largest city, Wilmington, located 32 miles from Philadelphia, balances state-of-the-art amenities with the feel of a small town. It’s known for its corporate presence, particularly in the banking and chemical industries. Wilmington’s Riverfront area has seen significant development, offering dining, entertainment, and recreational options. Areas like Christina Landing Dr and Walnut Dr provide residents with options in Wilmington for riverfront living, where you may also find $1 houses for sale in Philadelphia’s vicinity.
Our summaries of Philadelphia metropolitan area cities may have directed your curiosity toward the investment potential of this region. However, these only serve as an entry point, and we suggest an in-depth investigation into the current real estate landscape of these cities before you land on your dream investment property. You can begin using the detailed search, sort, and filtering options at Auction.com and save properties to your dashboard, so you get notified with every update about the property’s opening bid, auction date, auction location and more.
Links To Helpful tools:
- Remote Bid™: The future of Foreclosure auctions. Browse, bid, and win select Foreclosure properties from anywhere with ease. Qualify for Remote Bid™ or meet with a specialist today.
- Frequently Asked Questions: Find answers to frequently asked questions from Auction.com users.
- Foreclosure Home Properties Help Center: Navigate through a Foreclosure auction with confidence using our quick access guide. Learn terminology and catch up on state requirements. We have tailored sections for Foreclosure and REO properties.
- Real Estate Auction Calendar: Find real estate auction events in your area. Filter by state, asset type, and date to get a list of properties near you, or search Auction.com to start a list of properties with our useful filters.
- What is Auction.com? Find out what auction.com can do for you.
- Start your search! Visit the Auction.com search page to find all our foreclosure & bank-owned homes
The information in this blog post is being provided for informational purposes only and not for the purpose of providing legal or real estate investment advice, and no liability is assumed by Auction.com, LLC. with respect to such information.
