Bankers Hill is one of the most established neighborhoods in San Diego. Located uptown near the popular Balboa Park, this neighborhood has gone by other names in the past including Park West and Florence Heights.
This is primarily a residential neighborhood, especially west of Fifth Avenue and south of Laurel Street. However, there is a small commercial district. This area began booming in 2009 as new construction projects began, including condominiums located across from the park.
The area is known for the affluent, which is how it got its name Bankers Hill its name. These days, Bankers Hill is a cultured community that is hot for trends. Within its borders, there are farm-to-table restaurants, to sushi spots, small plate eateries and decadent dessert restaurants that rival those found in neighboring Little Italy.
One special element of Bankers Hill is the Spruce Street suspension bridge. This historic structure is above Maple Canyon Trail. It is wobbly but is perfect for those looking for some adventure to add to their neighborhood walk. .
Currently, the average home value for a house in Bankers Hill is $695,700. Values rose 1% last year for the area and is expected to do that again over the next year. The current home price is $1.8 million. The market has slowed a little, so there could be some good deals for those looking to buy.
For those interested in the area, there are five good reasons to look to Bankers Hill for your next home.
Here's a quick rundown of our list:
- Reason 1 - It is Centrally Located.
- Reason 2 - It is a Good Mix of Both Old and New Residences.
- Reason 3 - Area has a Lot of Walkability
- Reason 4 - The Medical Offices are Plentiful and Highly Rates.
- Reason 5 - It is Near Balboa Park.
Reason 1 - It is Centrally Located.
This area sits on a hill over the airport and San Diego Bay. Not only does this provide excellent views, but also provides access to both. There is I-5 that borders it, so there is an easy route to other parts of the city.
Reason 2 - It is a Good Mix of Both Old and New Residences.
Many of the older homes were designed by famous architects like Irving Gill. They are historical homes going back to the 1800's. Many have been restored and turned into commercial enterprises like office suites and bed-and-breakfast inns.
There are also new residences in varying price categories. New condos and courtyard apartments were built across from Balboa Park over the past 10 years. There are also some older low-rise condos to match the high-rise luxury units like those in Park Laurel. The mix of old and new, luxury and affordable provides a good feeling for those who live there.
Reason 3 - Area has a Lot of Walkability
You do not need to drive to get anywhere in the neighborhood and that makes it one of the best urban areas. Most of the residences are close enough for people to walk to cafes, bars, restaurants and Balboa Park. That makes for a cleaner environment and increased community feeling.
The added bonus of living in Bankers Hill is that almost every home has either a view of the bay or of the park, making it one of the most scenic areas of San Diego.
Blog Post Interrupt
Must Watch: 7 Tactics to Use When You Buy in San Diego - While You Live Elsewhere...
Back to the Post
Reason 4 - The Medical Offices are Plentiful and Highly Rates.
This area's primary business is medical. There are many physician and dental offices throughout the primary business district, creating the nickname of "Pill Hill." A new medical facility was built in 2014 that contains several specialties, general practitioners and an urgent care clinic.
Reason 5 - It is Near Balboa Park.
Balboa Park is recognized around the world as one of the premier attractions to visit in the United States. It includes numerous gardens, museums and restaurants so you can spend hours there. With it being so close to most residences, there is no reason why you and your family can't walk there several times a week to spend some quality time. You could probably even visit on your lunch hour to get a break during the day.
Bankers Hill is one of those places that is unique in its history, culture and feel. It is a diverse area that offers both urban fun in its cafes and bars, but also has family-friendly places like Balboa Park. It truly is a world-class area that can meet any variety of needs for all ages.
If you are interested in residences in Bankers Hill, feel free to call, email or text me for more information. I would be happy to answer all your questions as well and would love to help you find your new home!
Shoot me an email, text, or call to (760) 297-4539
Your Bankers Hill Insider,
7 "Did You Know" San Diego Loan Secrets Revealed!