Should You Buy a Home in Old Fourth Ward?
Atlanta home buyers have so many neighborhoods to choose from. Which neighborhood will be a good fit? It really depends on each individual’s situation and usually boils down to a few key points – budget, lifestyle, location, & schools. Today, let’s take a little closer look at Old Fourth Ward.
Should you live in the Old Fourth Ward?
Here’s a quick checklist to determine if you should consider the Old Fourth Ward as your future neighborhood. If you say yes to most of these below questions, then add O4W to your home search!
- Are you okay living in an area that is not zoned to a top-rated elementary school?
- Do you love living to all things walkable? (Restaurants, parks, other neighborhoods via the Beltline, shopping at PCM)
- Do you have at least $550K to spend on a single-familly home or if you prefer really fine, updated homes–more like $700K+?
- Are you comfortable knowing that some homes may sit next to a non-updated home?
- Are you ok that sections of the O4W are still not as gentrified as other parts?
Here are some more in-depth key factors of the Old Fourth Ward neighborhood to think about:
Old Fourth Ward Walkability: The Old Fourth Ward has boomed in popularity over the past 3-4 years thanks to the Beltline & the Ponce City Market (PCM) developments. Now, the Old Fourth Ward is front and center to accessibility onto the Beltline & PCM and not only that, but the Historic Old Fourth Ward Park has been revamped and is now a desirable place for casual walks, play dates in the park, and during the months of May-October – splash pad fun! There is no question that Old Fourth Ward is filled with sidewalks walkable to dining/shopping destinations and also very centrally located to many Intown events that make it an attractive place to live.
What Does it Cost to Live in the Old Fourth Ward? It’s no secret that the prices in the Old Fourth Ward have drastically shot upwards in the past 5 years. The average single-family home price in 2013 was around $290K and for the full 2016 year, the average price was $547K! These days, it’s pretty much a dream to find a fully updated bungalow in the O4W priced under $500K. Investors have swarmed this area for several years now, cashing in on the desirability of the area. Now days, you can find new, swanky modern homes/townhomes, but be prepared to pay $700K+ for them. There are also a few condo/loft options such as the Glen Iris lofts just across the street from PCM. Those can range in the mid $300’s for a 1 bedroom & $400K+ for a 2 bedroom. There are still some more affordable condo options priced just under $200K – such as McGill Place. These will be older and located in a less transformed part of O4W. Over time, I think the area will continue to blossom but it will take just that….time. Of course, O4W has tons of historical bungalows to choose from. These have been rapidly been getting renovated by investors so expect renovated bungalows to cost in the $550K-$800K range and fixer-uppers to cost in the mid $300’s.
Are the Schools Good? One surprising detail I find about the O4W is that it is zoned to a less than average elementary school (Hope-Hill). Nevertheless, homes still seem to sell. Perhaps a big reason that people don’t care about the school is that the home owners in this area are either young professionals without kids or empty nesters. The location trumps the schools in this case.
What Kind of Lifestyle to Expect in the O4W: The O4W is located in the center of all things Intown. If you are living in a single-family home, expect to have your neighbors located very close to you and have small yards. In fact, most streets will be filled with cars as driveways can be small. Traffic getting in and out of the area can be tricky at peak times as it’s surrounded by main thorough fares (Ponce De Leon, Freedom Parkway, North Ave, Boulevard). That said, residents in this area will enjoy how close everything is – from restaurants, to a brand new Kroger along the Beltline, and to Piedmont Park/Midtown, all which are walkable. You can also expect a diverse group of people living here. The O4W was once a place nobody wanted to live due to crime, drugs, etc. This has really changed for the better but you’ll still find pockets where low-income housing and homelessness exists. However, now the O4W is a bustling, vibrant neighborhood filled with events and attractions throughout the year.
Hopefully you now have a sense for what life is like in the Old Fourth Ward. Curious to see what homes are available in the Old Fourth Ward? Check Below for JUST LISTED homes in the Old Fourth Ward.
Or CLICK HERE to view ALL homes currently listed in the O4W.
Homes JUST LISTED in Old Fourth Ward (within the past 7 days)
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