What is the cost of living in Philadelphia, PA?

For a quick read on Philadelphia: homes carry a median value of $215,500, rent runs a median $1,250 monthly, and household income is a median $57,537, all from the US Census Bureau ACS 5-Year (2022).

How much do you need to earn to live comfortably in Philadelphia?

Comfortably affording rent in Philadelphia — where the median runs $1,250/month — typically means earning about $50,000 a year, per the standard 30%-of-income benchmark. See the full salary breakdown (renting and buying) for Philadelphia.

Is it better to rent or buy in Philadelphia?

Renting in Philadelphia at the median $1,250/month calls for about $50,000 a year under the standard 30% guideline; buying the median home at $215,500 takes roughly $49,305 a year in principal and interest (20% down, 30-year fixed, current rates). Timeline and down payment usually decide which makes more sense.

Is Philadelphia safe?

Per FBI Crime Data Explorer figures, Philadelphia's violent crime rate was 830.7 per 100,000 residents in 2025.

Philadelphia, PA Relocation Guide (2026)

Cost of living, housing, and income data for Philadelphia, sourced from the US Census Bureau.

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Salary needed to live in Philadelphia →

1,593,208

Population

$57,537

Median household income

-20% vs tracked median

$215,500

Median home value

-34% vs tracked median

$1,250/mo

Median rent

-10% vs tracked median

Source: US Census Bureau ACS 5-Year (2022). Last updated July 2026.

Philadelphia, Pennsylvania has a population of about 1,593,208. Typical household income is $57,537 per year, below the median across the cities in our dataset (-20%).

Philadelphia's housing market shows a median home value of $215,500, below the multi-city benchmark (-34%), alongside median rent of $1,250 per month. Both figures matter for anyone weighing a move here.

Home values run about 3.7× median income in Philadelphia, putting it squarely in the balanced range among the cities we cover. Prices in the area have gained 3.8% year over year, a moderate pace that suggests a stable market around Philadelphia. Climate and natural-hazard risk in Philadelphia runs on the higher side, per FEMA's Very High rating — insurance premiums often track this closely.

Personal Affordability Check

Your annual household income: $57,537

Comfortable

Renting at $1,250/mo in Philadelphia would take 26.1% of your income.

$188/mo under the 30% guideline.

Within Budget

Buying the median home ($215,500) would take 24.0% of your income toward principal & interest.

$192/mo under the 28% guideline.

Cost of housing in Philadelphia

Median home value is $215,500 and median gross rent is $1,250/month. For buyers, monthly costs depend heavily on current mortgage rates — worth checking before you commit.

FHFA's county-level home price index for Philadelphia rose 3.8% over the past year (as of 2025).

HUD's FY 2026 Fair Market Rent for a 2-bedroom unit in the surrounding county is $1,810/month.

Climate & home insurance

FEMA rates Philadelphia's overall natural-hazard risk as Very High. Risk level is a major driver of home insurance premiums.

Safety

Philadelphia reported a violent crime rate of 830.7 per 100,000 residents in 2025, per FBI data.

Moving to Philadelphia

Planning a move to Philadelphia? Compare licensed movers and get quotes based on your origin and move date.

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Cost estimates for moving between Philadelphia and nearby popular destinations:

Frequently asked questions

What is the cost of living in Philadelphia, PA?: For a quick read on Philadelphia: homes carry a median value of $215,500, rent runs a median $1,250 monthly, and household income is a median $57,537, all from the US Census Bureau ACS 5-Year (2022).
How much do you need to earn to live comfortably in Philadelphia?: Comfortably affording rent in Philadelphia — where the median runs $1,250/month — typically means earning about $50,000 a year, per the standard 30%-of-income benchmark. See the full salary breakdown (renting and buying) for Philadelphia.
Is it better to rent or buy in Philadelphia?: Renting in Philadelphia at the median $1,250/month calls for about $50,000 a year under the standard 30% guideline; buying the median home at $215,500 takes roughly $49,305 a year in principal and interest (20% down, 30-year fixed, current rates). Timeline and down payment usually decide which makes more sense.
Is Philadelphia safe?: Per FBI Crime Data Explorer figures, Philadelphia's violent crime rate was 830.7 per 100,000 residents in 2025.

See the full salary breakdown for Philadelphia →

Compare Philadelphia to similar cities

Cities with a similar cost of living

Matched on median rent and household income within 15% of Philadelphia's.

Baltimore, MD

Median rent $1,235/mo · Median income $58,349

Salary breakdown →

Lakeland, FL

Median rent $1,217/mo · Median income $58,290

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North Charleston, SC

Median rent $1,288/mo · Median income $58,534

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Wilmington, NC

Median rent $1,213/mo · Median income $58,908

Salary breakdown →