SOURCE: Altisource Portfolio Solutions, S.A.

Altisource Portfolio Solutions, S.A.

July 19, 2017 09:00 ET

Owners.com Ranks Affordable Philadelphia Neighborhoods for Growing Families

According to Owners.com Managing Broker, Cobbs Creek, Fish Town and Point Breeze top the list for families

PHILADELPHIA, PA--(Marketwired - July 19, 2017) - Owners.com, an innovative online real estate brokerage, today released data ranking neighborhoods in Philadelphia for growing families. With many families looking to get into a home before the start of the next school year, Owners.com tapped into insights from its Pennsylvania managing broker, Khadeejah Johnson, as well as a variety of other data sources -- including home prices, school systems, household dynamics, income and affordability, crime rates and outdoor activities -- to uncover top neighborhoods to consider.

Many of the neighborhoods considered are up-and-coming for Philadelphia, offering residents affordable home prices for the area, below-average crime rates and access to great outdoor activities, making these good communities to raise a family.

Three Neighborhoods for Growing Families

Cobbs Creek (2015 Population, 64,073)
2015 average home price  Average income per 2015 capita  2015 home affordability (Philadelphia average, 5.84)  2017 public school rating
(Philadelphia average, C)
 % of households with kids under 18 as of 2014 (U.S. average, 66.22%)  2015 average crime rate per 100K people (Philadelphia average, 486)  2017 outdoor activities score
$83,500  $30,391  2.75  C-  47.58%  266  A
             

"The Cobbs Creek area is being revitalized, and offers commuters convenient public transportation options and good value," said Johnson. "The neighborhood is very walkable and you can often find families at the many local playgrounds or hiking or biking along the scenic Cobbs Creek Trail."

Fish Town (2015 Population, 22,560)
2015 average home price  Average income per 2015 capita  2015 home affordability (Philadelphia average, 5.84)  2017 public school rating
(Philadelphia average, C)
 % of households with kids under 18 as of 2014 (U.S. average, 66.22%)  2015 average crime rate per 100K people (Philadelphia average, 486)  2017 outdoor activities score
$161,500  $41,756  3.87  C-  46.89%  266  A
             

"Fish Town is one of the most buzzed-about up-and-coming neighborhoods in Philadelphia," said Johnson, "due to its prime location, access to many different transportation options and an abundance of new restaurants and businesses. For growing families, this community feels removed from the bustle of the city, and there are plenty of parks and green spaces throughout the neighborhood."

Point Breeze (2015 Population, 47,498)
2015 average home price  Average income per 2015 capita  2015 home affordability (Philadelphia average, 5.84)  2017 public school rating
(Philadelphia average, C)
 % of households with kids under 18 as of 2014 (U.S. average, 66.22%)  2015 average crime rate per 100K people (Philadelphia average, 486)  2017 outdoor activities score
$150,600  $36,374  4.24  C-  57.47%  223  A
             

"The residents of Point Breeze are generally young professionals with families who enjoy the neighborhood's peaceful vibe and tree-lined streets," said Johnson. "Many of the residents here work in Philadelphia's vibrant educational and health care institutions. This neighborhood is near the city's popular Rittenhouse Square, offers shopping in Squirrel Hill, Regent Square and Shadyside, and features a variety of family-friendly attractions like The Climbing Wall, libraries, museums and parks."

Owners.com provides technology-enabled real estate services with the support of an expert local agent to assist with the transaction. Sellers using Owners.com have access to flexible listing packages that can save thousands of dollars on traditional real estate commissions, and buyers receive a rebate of up to 1.5 percent on the purchase price. The Owners.com Advice blog offers home buyers and sellers a multitude of tips and insights on local markets, real estate, home upgrades and DIY and personal finance.

Methodology
The Owners.com® Pennsylvania managing broker Khadeejah Johnson identified neighborhoods for growing families. For each neighborhood, the Owners.com data team evaluated the areas based on seven metrics, including average home price, quality of schools, average household size, percentage of households with kids under 18, home affordability, crime rate and how suitable the neighborhood is for outdoor activities. The percentage of households with children under 18 was weighted against the U.S. average, while home affordability, crime rate and school quality were weighted against the city average. The neighborhoods were then ranked from most to least affordable, with lower scores indicating better affordability.

Sources:

About Owners.com®
Owners.com is a tech-enabled real estate brokerage that handles all key aspects of the home buying and selling experience on one platform. It provides a superior experience and savings through right-sized commission structures, smart digital tools and personalized service from local agents. It's this formula that can save consumers thousands at closing. For more information or to contact a local Owners.com real estate agent, visit Owners.com, or follow the brand on facebook.com/ownerscom and twitter.com/ownersdotcom.

About Altisource®
Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) is an integrated service provider and marketplace for the real estate and mortgage industries. Combining operational excellence with a suite of innovative services and technologies, Altisource helps solve the demands of the ever-changing market. Additional information is available at altisource.com.

Source: Altisource Portfolio Solutions S.A.

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