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Cost of living in Philadelphia, PA

Compared with New York. Change city

$2,017a month less for the typical home than in New York1,2

That's $24,205 a year, enough to cover 11 months of the mortgage in Philadelphia. The average commute is 7 minutes shorter each way, about 1.2 hours a week back4.

Typical home $374,950 vs $742,000. 2-bedroom rent3 $1,723 vs $1,997. See the math

By Sol Lakein.Checked October 2026.How we compare costs

The Schuylkill River and Center City, PhiladelphiaChris Murray / Unsplash
All cities
  • Big-city lifeNFL, NBA, MLB, NHL teams
  • Walkable downtownCenter City
  • Train to New YorkAmtrak and NJ Transit to NYC

Philadelphia at a glance, next to New York

5

What the median home costs each month

1,2
New York metro$4,078/mo
$742,000 typical home
Philadelphia$2,061/mo
$374,950 typical home

If you rent: median 2-bedroom

3
New York metro$1,997/mo
Philadelphia$1,723/mo
About $274 a month less in rent
Rent by apartment size in Philadelphia

Day-to-day costs

  • Housing costs613% pricier than averageNew York: 49% above
  • Salary that matches $150,000 in New York6$136,662
  • Net move-ins from other US metros, 2024-257-9,736
Philadelphia in a paragraph

The median listed home in Philadelphia is $374,950 (Realtor.com, September 2026), 11% below the US median of $419,250. With 20% down at 7.32%, principal and interest come to about $2,061 a month. The median 2-bedroom rent is $1,723 a month, utilities included (Census, 2025). Everyday prices index at 102.6, where the US average is 100 (BEA, 2024). A $150,000 salary in New York buys the same as $136,662 here.

Weather

9
  • 26°January low
  • 87.8°July high
  • 23.1 inSnow per year

Home prices next to New York

1
Typical home for sale
New York metro$742,000
Philadelphia$374,950
49% less, a $367,050 difference
Price per square foot
New York metro$494
Philadelphia$228
2.2 times the space for the money

Your New York, in Philadelphia

The places you use now, matched to their closest counterpart.

  • Big city park
    In New YorkCentral Park
    In PhiladelphiaFairmount Park2,054 acres
  • Walking and biking trail
    In New YorkHudson River Greenway
    In PhiladelphiaSchuylkill River TrailMore than 30 miles of the trail are in Philadelphia; about 75 miles are complete in sections overall
  • Art museum
    In New YorkThe Met
    In PhiladelphiaPhiladelphia Museum of ArtChildren 18 and under are always free; admission on the first Sunday of every month is pay what you wish
  • Natural history museum
    In New YorkAmerican Museum of Natural History
    In PhiladelphiaAcademy of Natural Sciences of Drexel UniversityFounded in 1812; holds more than 19 million specimens
Show 6 more matches
  • Broadway and the symphony
    In New YorkBroadway and Lincoln Center
    In PhiladelphiaAcademy of Music (Ensemble Arts Philly)Opened in 1857; seats up to 2,600; the venue describes itself as the oldest opera house in the United States still used for its original purpose
  • Food hall
    In New YorkChelsea Market
    In PhiladelphiaReading Terminal MarketOpened for business in 1892 in a market built underneath the Reading Railroad's new train station on Market Street
  • Office and career hub
    In New YorkMidtown and the Financial District
    In PhiladelphiaCenter CityGreater Center City supports 309,000 jobs, 42% of all employment in Philadelphia; with University City, the urban core holds 53% of citywide employment
  • Neighborhood main street
    In New YorkCourt Street, Brooklyn
    In PhiladelphiaEast Passyunk AvenueA diagonal avenue across the street grid with over 150 independently owned restaurants and shops; the Singing Fountain sits on the avenue
  • Big-league ballpark
    In New YorkYankee Stadium and Citi Field
    In PhiladelphiaCitizens Bank ParkHome of the Phillies; opened April 3, 2004; capacity 42,901
  • Day trip to nature
    In New YorkHudson Valley
    In PhiladelphiaDelaware Water Gap National Recreation Area67,000 acres of river valley in Pennsylvania and New Jersey, including 40 miles of the Middle Delaware River

See how Philadelphia ranks for your household

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See how Philadelphia ranks for you

Is Philadelphia a good place to live?

Philadelphia fits families who want homes list 11% below the US median and train to New York. The main trade-off is prices 3% above the US average. Here is what you gain and what you give up.

What you gain

  • Homes list 11% below the US median$374,950 median listing against $419,250 nationally.Realtor.com via FRED, September 2026
  • Train to New YorkAmtrak and NJ Transit to NYCAmtrak and transit operator pages
  • Walkable downtownCenter CitySlower Sundays city profile

What you trade

  • Prices 3% above the US averageEveryday prices index at 102.6 against a US average of 100. Still well below New York's 112.6.BEA regional price parities, 2024
  • Real wintersJanuary lows average 26°F with 23.1 inches of snow a year.NOAA 1991-2020 normals
  • More people leave than arrive9,736 more people left for other US metros than arrived, July 2024 to July 2025.US Census Bureau, Vintage 2025

Is Philadelphia a good place to live? Read the full pros and cons

More on Philadelphia and Pennsylvania

Show 2 links

Philadelphia cost of living: questions people ask

What is the cost of living in Philadelphia, PA?

The median listed home in Philadelphia is $374,950 (Realtor.com, September 2026), 11% below the US median of $419,250. With 20% down at 7.32%, principal and interest come to about $2,061 a month. The median 2-bedroom rent is $1,723 a month, utilities included (Census, 2025). Everyday prices index at 102.6, where the US average is 100 (BEA, 2024). A $150,000 salary in New York buys the same as $136,662 here.

How much would I save moving from New York to Philadelphia?

The median listed home is $374,950 in Philadelphia against $742,000 in the New York metro, 49% less. On a mortgage for each median home, that is about $2,017 a month less in principal and interest (20% down, 7.32%, Freddie Mac, October 22, 2026).

How much is rent in Philadelphia?

The median gross rent for a 2-bedroom in the Philadelphia metro is $1,723 a month, including utilities the renter pays (Census American Community Survey, 2025). In the New York metro it is $1,997, $274 more. The US median is $1,563.

What salary in Philadelphia matches $150,000 in New York?

$136,662. That is $150,000 adjusted by the BEA regional price parities for both metros (102.6 in Philadelphia, 112.6 in New York, 2024).

Does Philadelphia pay you to move there?

None of the relocation incentive programs we track cover Philadelphia as of October 2026.

What is the weather like in Philadelphia?

January lows average 26°F and July highs 87.8°F, with 23.1 inches of snow a year (NOAA 1991-2020 normals, Philadelphia International Airport).

Notes on the numbers
  1. 1Home prices: the typical home is the median listing price, with price per square foot, from Realtor.com via FRED, September 2026. The comparison metro uses the same series and month.
  2. 2Monthly cost: Principal and interest on the median listed home with 20% down, 30-year fixed at 7.32% (Freddie Mac 30-year fixed average, week of October 22, 2026). Excludes taxes, insurance and HOA. Rate source
  3. 3Rent: Census ACS 2025 1-year, median gross rent for 2-bedroom units (rent plus utilities). Covers all renters, including long-time tenants, not only new leases. Census table
  4. 4Commute: Census ACS 2025 1-year, table S0801, mean travel time to work (one way, workers who do not work from home), 2025. Hours back assume a 5-day round trip. Census table
  5. 5At a glance: a difference within 5% counts as about the same.
  6. 6Everyday prices, housing costs and the matching salary: BEA regional price parities, 2024, US = 100.
  7. 7Net move-ins: Census Vintage 2025, via Regions Financial.
  8. 8Flights: airport route pages, October 2026.
  9. 9Weather: NOAA 1991-2020 normals, Philadelphia International Airport.
Sources for this page