It happened just after 3 a.m. Saturday on the 600 block of North 7th Street.
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Police say the 25-year-old driver of a 2011 Mercedes was traveling north on 7th Street at a high rate of speed when he lost control of the vehicle.
The vehicle struck a utility pole and then crashed into a home.
Wires from the utility pole came down and started a small fire at the residence, which officials say was quickly put out.
The driver was taken to Jefferson University Hospital, where medics pronounced him dead a short time later.
Police have identified the victim as Tyreese Clark.
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This is an active investigation with the Crash Investigation Division.
Overnight officers originally believed a shooting may have led to the deadly crash, but after further investigation, officials tell Action News that this is not the case.
The driver died as a result of his injuries sustained in the accident.
Officials also say that two adults and three dogs were displaced from the home that was crashed into.