Covering 11 counties in Pennsylvania, New Jersey, and Delaware, the Greater Philadelphia area offers a lifestyle to fit every budget and taste. You can study artistic masterpieces or roam the untamed country landscape; dine in a trendy restaurant or tour rural wineries and farms; rock out at a riverfront festival or drive to a quaint country town.
The region's central location on the MidAtlantic Coast, its public transportation, Amtrak, and interstate highways all help to streamline commuting within the region and to major east coast cities. Three international airports - Lehigh Valley, Newark Liberty, and Philadelphia - also facilitate travel in and out of the region.
Despite the recent gloom-and-doom media coverage of the real estate market, the Greater Philadelphia region has weathered the storm relatively well. In the last few years, the region's affordability has been very attractive compared to other life science hubs such as San Francisco and Boston. Now it has the added attraction of a more stable real estate market than most US cities.
"One principal reason for the price stability is due to the fundamentally sound local economy. Job gains continue locally .... Expect higher home sales and modestly higher home prices next year [2008]," predicts Lawrence Yun, vice president, National Association of Realtors.
For those who thrive on the hustle and bustle of city life, Center City Philadelphia offers fine restaurants, brand-name retail stores and unique boutiques, and a resurgent arts scene. The average price of a single home near such conveniences ranges from $440,000 to $595,000.
In addition to the mix of single professionals and empty nesters, Center City has seen an increasing number of young families. An unexpected bonus has been a built-in social network, created when families with no backyards meet others at the square or playground.
Depending on the neighborhood, the quality of schools varies greatly, so families are careful about choosing public schools. The city has increased its commitment to addressing this issue, and test scores at most of the neighborhood's elementary schools have been rising. Private schools and more than 60 charter schools offer an alternative to public schools.
Areas undergoing gentrification in the last few years still have some attractive deals on rentals and single family homes. This includes West Philadelphia, which has the added cultural attractions offered to the public by Drexel University and the University of Pennsylvania, and the neighborhoods south of Graduate Hospital, with their easy access to Rittenhouse Square and the Schuylkill Expressway.
If walking to work isn't a priority, neighborhoods such as Manayunk, East Falls, and East Mount Airy are within city limits but offer more affordable homes with convenient public transport. "We enjoy the beautiful neighborhoods, some with cobblestone roads and homes that often are more than 100 years old," says Amy Francis, who moved last summer to East Mount Airy from Connecticut. Nearby Fairmont Park, the largest urban park in the country, is a bonus for those who enjoy mountain biking, running, or hiking on trails.
On a much smaller scale (population less than 100,000), Wilmington, Del., ranked in 2007 as one of the top ten North American cities of the future by the Financial Times group, is attracting empty-nesters and young professionals working in Delaware. A riverfront revitalization effort is paying off with the development of luxury townhouses, apartments, and condominiums, such as Christina Landing, and a 1.2-mile landscaped Riverwalk.
Only a short train ride away from Center City Philly, you can find some of the best public and private schools in Pennsylvania, and many small private colleges and universities such as Swarthmore and Villanova. Each town along the Pennsylvania Railroad's Main Line (running from Center City to Paoli in Chester County), has its own distinct charm. Families living here are close enough to enjoy Philadelphia's amenities but have access to more space and larger backyards. As some of the older, single family homes on the main line are replaced with deluxe condos costing $500,000 or more, the area's serene country feel is slowly going sleek and urban. The retail environment is shifting to more holistic food stores, upscale gyms, and trendy coffeehouses.
Bucolic Bucks County, with safe suburban living and highly ranked public schools, attracts couples who may have one spouse commuting to New York City while the other heads into Philadelphia. My Mahoney, an associate professor at Thomas Jefferson University, moved to Yardley, Pa., which is near train stations to Philadelphia, Trenton, NJ, New York City, Washington, DC, and Interstate 95. "It's a great area to raise children with something to do every weekend, from the zoo and museums in Philadelphia to Sesame Place and historic towns [in Bucks County]," says Mahoney.
If you are looking for a quieter lifestyle, there are countless small towns, and even farms in some areas, that dot the counties in all three states, offering greater acreage that is unattainable closer to the cities. Reminiscent of Mayberry-esque living, many villages feature a mix of single homes, townhouses, apartments, and condos, and tree-lined main streets with retail stores, community centers, post offices, and markets.
Driving west of Philadelphia, Chester County offers scenic views and tranquil country charm that can calm the most frenzied individuals. This comes with some of the best schools in the area. Animesh Poddar, a scientist at AstraZeneca, chose to live in West Grove, Pa., because his family wanted to live in a newer subdivision. While they love the beautiful rolling hills, Poddar says, "We miss having a Little Gym for the kids, or a mall nearby. We pretty much have to drive 30 minutes or more to get to kid-friendly attractions."
For those working in Delaware, another option is New Castle County. "Claymont offered us a great house with backyard, and it was still affordable with lower Delaware taxes and no sales tax!" says Mahoney, who lived in Claymont before moving to Bucks County. Bargains are bigger the farther northwest of Philadelphia you go. Though low on convenience (no malls and fewer Starbucks), towns like Easton and Riegelsville in Pennsylvania are great for acreage: a three-bedroom farmhouse on a semi-wooded acre can come in under $200,000.
Some people suffer "sticker shock" when it comes to living in parts of New Jersey. One reason is the taxes. Mercer County, the most northern of the NJ counties in the Greater Philadelphia area, offers some of the most desirable towns in the region. The most obvious are the areas surrounding Princeton, with premier schools, cultural attractions from Princeton University, and their proximity to both Philadelphia and New York City. All this comes with a hefty price tag, though; the average home sale price is $925,000.
Directly east of Philadelphia, across the Delaware River in New Jersey, more affordable options include Moorestown, which Money magazine named as 2005's top place to live in the nation. Westmont, an up-and-coming Camden County town, has pretty much all the comforts of its more expensive neighbors but without as many amenities: tree-lined streets, 80- to 90-year-old houses, good schools, and a train station that makes Center City less than 20 minutes away.
New Jersey Monthly magazine also named several Gloucester County towns as on the rise, based on new construction in 2007. Close to the New Jersey turnpike and the Commodore Barry Bridge into Pennsylvania, Harrison Township and Winslow offer rural charm and new homes for $300,000 to $400,000.
This is just the tip of the iceberg. With a little digging you are bound to find a lifestyle that suits you. As the residents already know, the Greater Philadelphia region is an exciting place to live, work, and play.