Pat yourself on the back, 19123 residents: Your neighborhood was just named a top 30 boom town in the U.S.
A new report by Realtor.com ranked the 19123 zip code, which is the Northern Liberties neighborhood, as the 23rd fastest growing town in the country. Gilbert, Arizona took the top spot.
For the analysis, researchers deemed a zip code a boom town based on new home construction, job creation, and an increasing number of households—"the gold mine for housing market growth," according to the report.
The stats, which Realtor.com provided to Curbed Philly, show that households in this zip code are expected to grow by 10 percent over the next five years. That's 2.6 times faster than the rest of the country.
The report also revealed some interesting findings about Philadelphia county in general:
- Philly will see a total of 3,700 new households formed in 2016— that's 5 times more than the top 1,000 fastest growing counties in the country.
- This county will see a total of 11,400 new jobs created in 2016. That's 16 times more than the top 1,000 fastest growing counties in the country.
But back to Northern Liberties, which one could argue is well-past its "boom town" phase. Johnathan Smoke, a chief economic analyst for Realtor.com, said, "If anything, this is a road map for where builders should be thinking about where to break ground next."
We're looking at you, Fishtown and Kensington.
- America's Top 30 Boom Towns [Realtor.com]
- Philly named 2nd most undervalued city in the U.S. [Curbed Philly]