Cost of Living in Philadelphia, PA
Housing
The housing market plays a significant role in determining the cost of living in Philadelphia, PA.
- Housing Index: 120.0 / 100
- Median Home Price is: $285,000
- Average Rent (2 BR Apartment): $2100 per month
- Average Rent (2 BR House): $2150 per month
Considering a move to Philadelphia, PA? The housing index of 120.0 indicates that the housing market is elevated compared to the national average. A median home price of 285000 positions home buying as a significant investment, while average rents for a 2-bedroom apartment at 2100 and a house at 2150 show a competitive rental market. While the area can be attractive, potential buyers and renters should weigh these costs against local job opportunities and quality of life to make an informed decision.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Philadelphia, PA.
- Electricity Price: $17.68 USD (median by state)
- Natural Gas Price: $17.61 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $250 per month
Living in Philadelphia, PA could entail higher utility costs. Electricity costs sit at $17.68, while natural gas is priced at $17.61 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $250 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Philadelphia is a financially viable option for your relocation.