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This 417-square-foot cozy condo in the Castings has one bedroom and one bathroom. 

Design: An abundance of natural light, 10-foot ceilings and clever design make this small but mighty home feel open and bright.

Neutral walls, dark wood floors and large windows are a blank canvas for your personal style.

The owner decorated it with mid-century modern furniture and tastefully curated artwork. 

The building is loaded with charm, from the green garage-style doors to the industrial architecture in the lobby and common areas.   

Maximizing tiny: The primary bedroom has two closets, and one is now used as an office. A sleek desk is tucked into the closet and there are floating shelves — adding utility to the room without compromising space.  

Though the unit doesn't have a formal dining room, the updated, modern kitchen has a breakfast bar with enough room for two stools. 

By the numbers: This unit is listed at $215,000. 

The condo fee is $224 a month and includes water, common area maintenance, snow removal, trash removal and the management fee. 

Other highlights: Pet-friendly building, in-unit washer/dryer, convenient walkable location. 

Small and stylish Philly Old City condo asks $215K

An abundance of natural light, 10-foot ceilings and clever design make this home feel open and bright.

Exterior of 130 N. Bread St. Photo: Paul McGlade/ Better World Photography, courtesy of Francesca Prieto

This 417-square-foot cozy condo in the Castings has one bedroom and one bathroom. <ul><li>The address is <a class="gtmContentClick" data-vars-link-text="130 N. Bread St. #128" data-vars-click-url="https://www.compass.com/listing/130-north-bread-street-unit-128-philadelphia-pa-19106/1150297377371842185/" data-vars-content-id="2b08ac56-edf5-4812-89fa-7d0e7f440667" data-vars-headline="Small and stylish Philly Old City condo asks $215K" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.compass.com/listing/130-north-bread-street-unit-128-philadelphia-pa-19106/1150297377371842185/" target="_blank">130 N. Bread St. #128</a>.</li></ul>

Real Estate

Data: First Street Foundation; Map: Kavya Beheraj/Axios

About 12% of properties in the Philadelphia metro area could be facing higher insurance premiums or policy non-renewals due to the risk of high winds and flooding, per a new analysis.

Driving the news: Insurers are changing how they factor climate and extreme weather risks into premiums. Others are suspending coverage altogether.

The big picture: Millions of properties nationwide could see higher premiums because of these climate- and weather-related risks, per estimates from the First Street Foundation, a climate data nonprofit.

Nearly 24 million U.S. properties may face higher premiums because of the risk of potential wind damage, about 12 million because of the risk of flooding, and about 4.4 million due to wildfire risk.

What's happening: When it comes to wildfire and wind damage, some private insurers are dropping policyholders as the risk of those threats grows, says Jeremy Porter, First Street's head of climate implications research.

That's leading many homeowners to opt for public "insurer of last resort" plans — but often at higher rates.

Rising rates driven by climate- and weather-related risks are particularly pronounced in states like Florida and Louisiana.

What they're saying: While Pennsylvania doesn't have the same risks, Ben Keys, a professor of real estate and finance at the University of Pennsylvania, told WHYY that states like Florida and California can gauge how the industry will respond to climate change.

"I think of insurance as being one of the very first movers in a much longer chain of responses to climate risk," he said. "They are the most mobile and have the most money at stake in the event of disasters."

Meanwhile, FEMA recently updated its flood insurance pricing model for the first time since the 1970s, leading to higher premiums that are more reflective of today's flooding risks, Porter says.

The intrigue: Eight million households are in FEMA flood zones, but only 4.7 million have active flood insurance policies.

Zoom in: In Philadelphia, nearly 20% of properties are at risk of insurance increases due to flooding, per the analysis.

What we're watching: Climate and extreme weather risks — and the associated financial costs — are starting to influence where people choose to live, Porter says, but only to a slight degree.

For example, Florida's population grew from 2020 to 2022, per the latest census data. But Miami — home to the country's most expensive homeowner's insurance — shrunk slightly.

Miami is still a popular place to live, but people are leaving areas such as South Beach for communities at higher elevations, like Little Haiti, Porter says.

Flooding risk threatens Philadelphia insurance premiums

Nearly 20% of Philly properties are at risk of insurance increases due to flooding, per the analysis.

Insurance

About 12% of properties in the Philadelphia metro area could be facing higher <a class="gtmContentClick" data-vars-link-text="insurance premiums" data-vars-click-url="https://www.axios.com/local/philadelphia/2021/10/04/philadelphia-flood-insurance-rates-increase-fema" data-vars-content-id="339669fc-eb89-412d-b1a5-b0c1178c6487" data-vars-headline="Flooding risk threatens Philadelphia insurance premiums" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/philadelphia/2021/10/04/philadelphia-flood-insurance-rates-increase-fema" target="_self">insurance premiums</a> or policy non-renewals due to the risk of high winds and flooding, per a new analysis.Driving the news: Insurers are changing how they factor climate and extreme weather risks into premiums. Others are suspending coverage altogether.

News

Climate

Whether you're on the hunt for a high-end home or just appreciate the eye candy, this week's collection of hot homes is all about luxury. 

Why we love it: The open layout, spacious blue and white kitchen and finished basement with a drink fridge and bar makes this home ideal for folks who like to entertain. 

Specs: 3 bedrooms, 1.5 bathrooms, 1,825 square feet

Listed by: Justin Smith at Keller Williams Philly

Features: Finished basement, new heating/cooling, chic finishes throughout 

Why we love it: The interior features tasteful finishes and an open kitchen, but the private rooftop with city views is the star of this show. 

Specs: 3 bedrooms, 3 bathrooms, 2,190 square feet

Features: Electric car charging station, finished basement with bath, private patio and balcony  

Why we love it: This 4-bed oozes luxury, including the kitchen, which features a custom range, black brick backsplash and a trendy mix of wood and marble. 

Specs: 4 bedrooms, 2 bathrooms, 2,600 square feet

Listed by: Matthew Condello at BHHS Fox & Roach — Spring House

Features: Spa-like bathrooms, exposed beams and brick walls, small fenced-in yard

Why we love it: Formerly a monastery built in 1850, history buffs and architecture-lovers will appreciate how this home's been modernized without losing character. 

Specs: 4 bedrooms, 2.5 bathrooms, 3,000 square feet

Listed by: Philip Cavalcanto at Coldwell Banker Realty

Features: Two-car garage, Moroccan tile in kitchen/around fireplace, spacious bedrooms, courtyard 

Photo: Ed Tully at ET Creative Inc, courtesy of Coldwell Banker Realty

Why we love it: This luxury property stands out with beautiful light fixtures, wainscoting throughout, intricate molding and designer kitchen and bathrooms.

Specs: 6 bedrooms, 5 bathrooms, 5,946 square feet

Listed by: Vincent Mancini at Compass Pennsylvania, LLC

Features: Parking, permit to add a rooftop deck, 3 fireplaces 

Hot homes: 5 houses for sale in Philly starting at $275K

This week's collection of hot homes is all about luxury.

308 Monastery Ave. Photo: Ed Tully at ET Creative Inc, courtesy of Coldwell Banker Realty

Whether you&#x27;re on the hunt for a high-end home or just appreciate the eye candy, this week&#x27;s collection of hot homes is all about luxury. <h2 class="text-h6 !font-sans !font-normal !leading-[1.2em]"><a class="gtmContentClick" data-vars-link-text="5542 Florence Ave. — $275,000" data-vars-click-url="https://www.kw.com/property/LST-6965131924696174592-6" data-vars-content-id="371e64ec-49cd-4d9e-941a-9de6eec7eca4" data-vars-headline="Hot homes: 5 houses for sale in Philly starting at $275K" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.kw.com/property/LST-6965131924696174592-6" target="_blank">5542 Florence Ave. — $275,000</a></h2>Why we love it: The open layout, spacious blue and white kitchen and finished basement with a drink fridge and bar makes this home ideal for folks who like to entertain.

A real estate market crash isn't likely in 2023. Here's what Brett Rosenthal of Compass' Revolve Philly Group says to expect instead.

Rosenthal predicts 2023 will be slower than the last few years, but activity will pick up later in the year.  

2. Demand will pick up from regular folks — and investors. 

"Higher interest rates took some buyers out of the market, however I am already seeing many come back," he says.

Investors will be active in Philly in 2023, too. Philly, Rosenthal says, has a lower cost of entry than other markets, which makes it ripe for investors.   

Because supply is still so low, prices will only come down slightly. "I expect that to continue until the spring," Rosenthal says.  

Philly real estate isn't poised for a 2023 crash

Illustration of the year 2022, with a keyhole for a zero, which zooms in so you can see through the keyhole to the year 2023.

Housing

A real estate market crash isn&#x27;t likely in 2023. Here&#x27;s what Brett Rosenthal of Compass&#x27; Revolve Philly Group says to expect instead.<h2 class="text-h6 !font-sans !font-normal !leading-[1.2em]">1. It&#x27;ll be slow to start. </h2><ul><li>Rosenthal predicts 2023 will be slower than the last few years, but activity will pick up later in the year. </li></ul>

Whether you prefer the newly renovated neutral aesthetic or the charm of a character-filled old-school home, this week's roundup has a little something for everyone. 

Why we love it: Recently renovated, this townhouse has a white kitchen, light floors and clean finishes throughout.

Specs: 3 bedrooms, 1.5 bathrooms, 1,368 square feet

Listed by: Monazel Abdulelah at Keller Williams Philly

Features: Bright and airy, spacious entry, open living area.

white kitchen with honey-colored wood breakfast bar

Why we love it: This retro abode might not be everyone's taste, but we know the pink dining nook and kitchen, wallpaper and vintage bathroom tile will make some of your hearts flutter.  

Specs: 5 bedrooms, 1 bathroom, 1,992 square feet

Listed by: Dawn McCormac at Realty ONE Group Unlimited

Features: Welcoming front porch, 3-car garage, third-floor flex space.

Why we love it: With a formal dining room, gorgeous kitchen with wine rack and fridge and a fenced-in yard, this home was made for entertaining. 

Specs: 6 bedrooms, 2.5 bathrooms, 2,631 square feet

Listed by: Remy Pizzichini at Compass Pennsylvania, LLC

Features: Built-ins, bay windows, neutral finishes throughout.

Why we love it: This two-bed is a cottage core dream with original wood floors, a wallpapered powder room, exposed brick and beams and a spacious patio with a garden. 

Specs: 2 bedrooms, 1.5 bathrooms, 1,340 square feet

Listed by: Reda Akbil at Compass Pennsylvania, LLC

Features: Two original wood burning fireplaces, new kitchen with fun tile backsplash and fruit knobs, tons of storage.

Why we love it: Nothing says luxury like a private elevator, rooftop deck, dual bathroom vanities and floor-to-ceiling windows. 

Specs: 3 bedrooms, 2 bathrooms, 1,360 square feet

Listed by: Michael Stillwell at JBMP Group

Features: Walk-in closets, built-in storage, open living area, gourmet kitchen.

Hot homes: 5 houses for sale in Philly starting at $200k

This week's edition has a sparkling rowhouse reno in Kingsessing.

806 S. Front St. Photo courtesy of Reda Akbil

Whether you prefer the newly renovated neutral aesthetic or the charm of a character-filled old-school home, this week&#x27;s roundup has a little something for everyone. <h2 class="text-h6 !font-sans !font-normal !leading-[1.2em]"><a class="gtmContentClick" data-vars-link-text="6035 Chester Ave. — $200,000" data-vars-click-url="https://www.amonazelrealty.com/PA/Philadelphia/6035-Chester-Avenue" data-vars-content-id="adc846c9-dc0d-40b6-838b-cb891e709b4a" data-vars-headline="Hot homes: 5 houses for sale in Philly starting at $200k" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.amonazelrealty.com/PA/Philadelphia/6035-Chester-Avenue" target="_blank">6035 Chester Ave. — $200,000</a></h2>Why we love it: Recently renovated, this townhouse has a white kitchen, light floors and clean finishes throughout.<ul><li>Neighborhood: Kingsessing </li><li>Specs: 3 bedrooms, 1.5 bathrooms, 1,368 square feet</li><li>Listed by: <a class="gtmContentClick" data-vars-link-text="Monazel Abdulelah " data-vars-click-url="https://www.amonazelrealty.com/" data-vars-content-id="adc846c9-dc0d-40b6-838b-cb891e709b4a" data-vars-headline="Hot homes: 5 houses for sale in Philly starting at $200k" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.amonazelrealty.com/" target="_blank">Monazel Abdulelah </a>at Keller Williams Philly</li><li>Features: Bright and airy, spacious entry, open living area.</li></ul><figure><img alt="6035 Chester Ave." height="853" id="54fcca98-ba07-40af-afd0-a6935b258776" src="https://images.axios.com/XFiA9sB0dLF68FC0tMeNaPfyN54=/2022/09/01/1662057475519.jpg" width="1280"/><figcaption>Photo courtesy of Monazel Abdulelah</figcaption></figure><figure><img alt="white kitchen with honey-colored wood breakfast bar" height="853" id="822d0003-de85-4011-a4f7-224a6ff0e69c" src="https://images.axios.com/UDMAnSCltLFlCOd0cibXcs8_Aj8=/2022/09/01/1662061859224.jpg" width="1280"/><figcaption>Photo courtesy of Monazel Abdulelah</figcaption></figure><h2 class="text-h6 !font-sans !font-normal !leading-[1.2em]"><a class="gtmContentClick" data-vars-link-text="130 Myrtle Ave. — $320,000" data-vars-click-url="https://dawnmccormac.myrealtyonegroup.com/single-family/brt/pamc2049900/130-myrtle-avenue-cheltenham-pa-19012" data-vars-content-id="adc846c9-dc0d-40b6-838b-cb891e709b4a" data-vars-headline="Hot homes: 5 houses for sale in Philly starting at $200k" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://dawnmccormac.myrealtyonegroup.com/single-family/brt/pamc2049900/130-myrtle-avenue-cheltenham-pa-19012" target="_blank">130 Myrtle Ave. — $320,000</a></h2>Why we love it: This retro abode might not be everyone&#x27;s taste, but we know the pink dining nook and kitchen, wallpaper and vintage bathroom tile will make some of your hearts flutter. <ul><li>Neighborhood: Cheltenham</li><li>Specs: 5 bedrooms, 1 bathroom, 1,992 square feet</li><li>Listed by: <a class="gtmContentClick" data-vars-link-text="Dawn McCormac" data-vars-click-url="https://dawnmccormac.myrealtyonegroup.com/" data-vars-content-id="adc846c9-dc0d-40b6-838b-cb891e709b4a" data-vars-headline="Hot homes: 5 houses for sale in Philly starting at $200k" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://dawnmccormac.myrealtyonegroup.com/" target="_blank">Dawn McCormac</a> at Realty ONE Group Unlimited</li><li>Features: Welcoming front porch, 3-car garage, third-floor flex space.</li></ul><h2 class="text-h6 !font-sans !font-normal !leading-[1.2em]"><a class="gtmContentClick" data-vars-link-text="439 W. Hansberry St. — $449,000" data-vars-click-url="https://www.compass.com/listing/439-hansberry-street-philadelphia-pa-19144/1122416840455473809/" data-vars-content-id="adc846c9-dc0d-40b6-838b-cb891e709b4a" data-vars-headline="Hot homes: 5 houses for sale in Philly starting at $200k" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.compass.com/listing/439-hansberry-street-philadelphia-pa-19144/1122416840455473809/" target="_blank">439 W. Hansberry St. — $449,000</a></h2>Why we love it: With a formal dining room, gorgeous kitchen with wine rack and fridge and a fenced-in yard, this home was made for entertaining. <ul><li>Neighborhood: Germantown</li><li>Specs: 6 bedrooms, 2.5 bathrooms, 2,631 square feet</li><li>Listed by: <a class="gtmContentClick" data-vars-link-text="Remy Pizzichini" data-vars-click-url="https://www.compass.com/agents/remy-pizzichini/" data-vars-content-id="adc846c9-dc0d-40b6-838b-cb891e709b4a" data-vars-headline="Hot homes: 5 houses for sale in Philly starting at $200k" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.compass.com/agents/remy-pizzichini/" target="_blank">Remy Pizzichini</a> at Compass Pennsylvania, LLC</li><li>Features: Built-ins, bay windows, neutral finishes throughout.</li></ul><h2 class="text-h6 !font-sans !font-normal !leading-[1.2em]"><a class="gtmContentClick" data-vars-link-text="806 S. Front St. — $659,000" data-vars-click-url="https://www.compass.com/listing/806-south-front-street-philadelphia-pa-19147/1125298129442606857/" data-vars-content-id="adc846c9-dc0d-40b6-838b-cb891e709b4a" data-vars-headline="Hot homes: 5 houses for sale in Philly starting at $200k" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.compass.com/listing/806-south-front-street-philadelphia-pa-19147/1125298129442606857/" target="_blank">806 S. Front St. — $659,000</a></h2>Why we love it: This two-bed is a cottage core dream with original wood floors, a wallpapered powder room, exposed brick and beams and a spacious patio with a garden. <ul><li>Neighborhood: Queen Village</li><li>Specs: 2 bedrooms, 1.5 bathrooms, 1,340 square feet</li></ul><ul><li>Listed by: <a class="gtmContentClick" data-vars-link-text="Reda Akbil" data-vars-click-url="https://www.compass.com/agents/reda-akbil/" data-vars-content-id="adc846c9-dc0d-40b6-838b-cb891e709b4a" data-vars-headline="Hot homes: 5 houses for sale in Philly starting at $200k" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.compass.com/agents/reda-akbil/" target="_blank">Reda Akbil</a> at Compass Pennsylvania, LLC</li><li>Features: Two original wood burning fireplaces, new kitchen with fun tile backsplash and fruit knobs, tons of storage.</li></ul><figure><img alt="806 S. Front St. kitchen" height="798" id="b921c924-4648-4a0a-b52b-059a35ae8f2f" src="https://images.axios.com/4i3YHYJrzKGPS9zZs_67x4daM9o=/2022/09/01/1662037338424.jpg" width="1200"/><figcaption>Photo courtesy of Reda Akbil</figcaption></figure><figure><img alt="806 S. Front St. bedroom" height="798" id="d7efaad8-746e-48c7-9176-14d4c0fa91fa" src="https://images.axios.com/LkONJlQ0e7wk6wiD56udePml6xI=/2022/09/01/1662037354357.jpg" width="1200"/><figcaption>Photo courtesy of Reda Akbil</figcaption></figure><figure><img alt="Photo courtesy of Reda Akbil" height="798" id="db839504-6651-4104-8121-08b7274cf4c7" src="https://images.axios.com/bNTPn-RbjCu159Yz_M0a58SB7CY=/2022/09/01/1662061977817.jpg" width="1200"/><figcaption>Photo courtesy of Reda Akbil</figcaption></figure><h2 class="text-h6 !font-sans !font-normal !leading-[1.2em]"><a class="gtmContentClick" data-vars-link-text="1102 N. 2nd St. Unit C — $845,000" data-vars-click-url="https://www.redfin.com/PA/Philadelphia/1102-N-2nd-St-19123/unit-C/home/167118614" data-vars-content-id="adc846c9-dc0d-40b6-838b-cb891e709b4a" data-vars-headline="Hot homes: 5 houses for sale in Philly starting at $200k" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.redfin.com/PA/Philadelphia/1102-N-2nd-St-19123/unit-C/home/167118614" target="_blank">1102 N. 2nd St. Unit C — $845,000</a></h2>Why we love it: Nothing says luxury like a private elevator, rooftop deck, dual bathroom vanities and floor-to-ceiling windows. <ul><li>Neighborhood: Northern Liberties</li><li>Specs: 3 bedrooms, 2 bathrooms, 1,360 square feet</li><li>Listed by: <a class="gtmContentClick" data-vars-link-text="Michael Stillwell" data-vars-click-url="https://www.redfin.com/PA/Philadelphia/1102-N-2nd-St-19123/unit-C/home/167118614" data-vars-content-id="adc846c9-dc0d-40b6-838b-cb891e709b4a" data-vars-headline="Hot homes: 5 houses for sale in Philly starting at $200k" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.redfin.com/PA/Philadelphia/1102-N-2nd-St-19123/unit-C/home/167118614" target="_blank">Michael Stillwell</a> at JBMP Group</li><li>Features: Walk-in closets, built-in storage, open living area, gourmet kitchen.</li></ul>

Brianna Crane

Featured stories

Flooding risk threatens Philadelphia insurance premiums

Small and stylish Philly Old City condo asks $215K

Philly real estate isn't poised for a 2023 crash

Hot homes: 5 houses for sale in Philly starting at $200k

Hot homes: 5 houses for sale in Philly starting at $275K