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: $285000
• 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 Bethlehem is a financially viable option for your relocation.

Cost of Living Index

The cost of living index is a widely used metric to determine the relative affordability of cities and towns.

• Index score: 110.3

Median Income

The median income is an important factor to consider when evaluating the affordability of a city or town.

• Median Income: $57537

Educational and Social Amenities

Access to quality education, healthcare, and social services can significantly impact the overall quality of life in a city or town.

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Summary

When considering a move to Philadelphia, PA, consider the following factors:

• Taxes: State income, property, and local income taxes can significantly impact your take-home pay.
• Job opportunities: The availability of jobs in your field can affect your quality of life.
• Cost of living: Housing costs, utilities, transportation, and other expenses should be considered when evaluating the affordability of a city or town.