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Real Estate Prices & Overview

Fairmount Northwest median real estate price is $478,707, which is more expensive than 85.8% of the neighborhoods in Pennsylvania and 69.1% of the neighborhoods in the U.S.

The average rental price in Fairmount Northwest is currently $2,699, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 87.7% of the neighborhoods in Pennsylvania.

Fairmount Northwest is a densely urban neighborhood (based on population density) located in Philadelphia, Pennsylvania.

Fairmount Northwest real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) townhomes and small apartment buildings. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Fairmount Northwest neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1940 and 1969.

In Fairmount Northwest, the current vacancy rate is 3.1%, which is a lower rate of vacancies than 80.7% of all neighborhoods in the U.S. This means that the housing supply in Fairmount Northwest is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Philadelphia, the Fairmount Northwest neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

The Fairmount Northwest neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 39,624 persons per square mile in the neighborhood, it is more packed with people than 97.9% of the nation's neighborhoods. Even if you drive or take transit to your place of employment, many people enjoy being able to walk in their neighborhood. What many people don't realize is that most of America's premier vacation locations are also very walkable. The Fairmount Northwest neighborhood is among the top 5% of American neighborhoods in terms of walkability.

In addition, if you love row houses and attached homes, you will probably really like the Fairmount Northwest neighborhood. The ambiance, the charm, of row houses is something special. And in sheer abundance of row houses, this neighborhood truly stands out. The real estate here has a higher proportion of row houses and attached homes than nearly any neighborhood in America. In fact, 61.0% of the residential real estate here is classified as row houses and attached homes.

Furthermore, do you watch 'This Old House' on Public Television? Do you love the idea of fixing up a Colonial or Victorian era home, complete with the charm of yesteryear? Do you like to stroll or drive streets lined with gracious older residences? If you found yourself nodding yes to any of these questions, you are going to be interested in this unique neighborhood. The Fairmount Northwest neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 68.4% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 98.2% of the neighborhoods in the United States.

Modes of Transportation

If your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 8.3% of residents in the Fairmount Northwest neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 99.4% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.

Also, more people in Fairmount Northwest choose to walk to work each day (15.8%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.

Finally, in the Fairmount Northwest neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 26.3% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 97.2% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.

People

Think about the people you know personally. How many of them would purchase box seats to opening night at the symphony? How many of them regularly attend gallery openings, or are the first to reserve tickets to opening night at the ballet? If they're like most of us, they don't do any of these things. But if you're among an exclusive crowd of wealthy and refined patrons of the arts, then you'll feel right at home in the Fairmount Northwest neighborhood: a neighborhood in which more "urban sophisticates" live than 98.8% of neighborhoods across the U.S. Here, your neighbors are defined as having urbane tastes in literature, music, live theatre and the arts. They are wealthy, educated, travel in style, and live a big city lifestyle whether or not they live in or near a big city. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for young, single professionals.

In addition, the rate of college educated adults in the Fairmount Northwest neighborhood is a unique characteristic of the neighborhood. 81.3% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 33.7% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 98.3% of all U.S. neighborhoods.

Occupations

The Fairmount Northwest neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 97.0% of the neighborhoods in America. In fact, 72.3% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.

Diversity

Did you know that the Fairmount Northwest neighborhood has more Austrian and Hungarian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.4% of this neighborhood's residents have Austrian ancestry and 5.8% have Hungarian ancestry.

Fairmount Northwest is also pretty special linguistically. Significantly, 4.7% of its residents five years old and above primarily speak Greek at home. While this may seem like a small percentage, it is higher than 99.9% of the neighborhoods in America.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the Fairmount Northwest neighborhood in Philadelphia are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 82.6% of the neighborhoods in America. In addition, 9.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 53.8% of America's neighborhoods.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the Fairmount Northwest neighborhood, 72.3% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 11.4% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (10.1%), and 9.4% in government jobs, whether they are in local, state, or federal positions.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Fairmount Northwest neighborhood is English, spoken by 88.3% of households. Other important languages spoken here include Greek, Langs. of India and Spanish.

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the Fairmount Northwest neighborhood in Philadelphia, PA, residents most commonly identify their ethnicity or ancestry as Irish (23.0%). There are also a number of people of German ancestry (16.0%), and residents who report Italian roots (10.8%), and some of the residents are also of English ancestry (9.1%), along with some Polish ancestry residents (7.7%), among others. In addition, 10.7% of the residents of this neighborhood were born in another country.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Fairmount Northwest neighborhood spend between 15 and 30 minutes commuting one-way to work (40.0% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (35.3%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (15.8%) and 8.3% of residents also bicycle for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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