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Grays Ferry is the Most Affordable Neighborhood in Philly Right Now

The average asking price is $130 per square foot

On the heels of the news that Grays Ferry is the "hottest" zip code for house flips, another analysis reveals that it has the least expensive listing prices per square foot in the city.

According to real estate data analysis company NeighborhoodX, the average asking price in Grays Ferry last month was $130 per square foot. Mount Airy and Port Richmond had the second and third lowest listing prices at $171 and $153 per square foot, respectively.

For the analysis, researchers looked at the asking prices throughout Philadelphia during February. They zeroed in on market-rate properties, but excluded foreclosures, affordable housing, and undeveloped lots of land.

On the higher end of the spectrum were Center City neighborhoods, including the pricey Logan Square where the average asking price per square foot is $475. The researchers noted that Logan Square and neighborhoods in Center City were pulled ahead considerably from Old City, where prices averaged $350 per square feet.