The historical settlement is believed to be the source of the ghost legend of Mae Nak Phra Khanong.
Sukhumvit Road was built during the mid-twentieth century, linking Bangkok to the eastern seaboard and bringing development along with it.
The new Phra Khanong neighbourhood grew up around Sukhumvit, and became a suburban commercial centre during the late 1970s to early 1980s.
The neighbourhood soon fell into decline, but begin seeing revival as the BTS Skytrain, opened in 1999, brought new development.
The neighbourhood is served by the Phra Khanong station, and is now home to several residential condominium towers, but remains much more low-key than nearby Ekkamai and Thong Lo, located inbound along Sukhumvit Road.