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December 09, 2020

Philly’s Tacony neighborhood becoming popular choice for first-time homebuyers

From historic Victorian homes to modern rowhouses, this Northeast Philadelphia neighborhood boasts some of the best home values in the City

Real Estate Tacony

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Limited - Tacony Community Development Corporation Lindsey Tweed/Tacony Community Development Corporation

The Tacony neighborhood is located in the northeast section of Philadelphia, just a short train ride from Center City, and nestled along the Delaware River. This neighborhood has been quietly gaining popularity with long-term and new Philadelphians alike due to its unique architecture, affordable housing, and low competition.

Over the last five years, the Tacony neighborhood has seen a steady increase in home sale prices. According to Redfin, at the end of 2015, housing prices were peaking at about $80,000. Now, in November of 2020, the median sale price is nearly $180,000. Some houses have even sold for over $260,000, a record high for the neighborhood.

Nicole Costello, a Tacony-based realtor, says "People really like the fact you can get larger houses here, they like the historic character. Many buyers like the feel of the neighborhood. They like the charm--a smaller town feel but you're in the City. The fact that the train is just a few blocks away, with easy access to I-95 and the Tacony Palmyra Bridge. Bottom line, the type of house you can get here is typically larger and it's a great value. With home prices up 17% over the last year more buyers are taking notice."

One of the most interesting components of Tacony’s real estate growth is that the houses have been flipped by individuals, rather than larger developers, according to a 2015 real estate study. This means that the contractors are less likely to be working on speculative projects, and are instead working directly with homeowners. This helps to keep prices lower and to maintain the unique, historic characteristics of the neighborhood.

Tacony is rich in amenities and growing! It has ample parks and open space, a growing commercial corridor, and rich community institutions. Picture yourself living here. From our historic Victorian homes to our early-20th-century, modest brick rowhouses or more modern post-war rowhouses, we have a home for every family’s needs. Click here to explore the neighborhood and learn more about living in Tacony.