Philadelphia, Pennsylvania, known as the city of Brotherly Love, is rich with American history, including a few important historical landmarks, such as the Liberty Bell. The Declaration of Independence was adopted here on July 4, 1776. Philadelphia is a city of firsts, such as being home to America’s first zoo, first medical school, first hospital, and the first general use computer, all the way back in 1946.
The cost of living in Philadelphia is approximately 17% higher than the national average, with housing costing around 30% more than average, utilities around 25% higher, and the cost of groceries near $16% higher.
If you’re not sure whether you can afford to live in Philadelphia, there are a few factors you should consider:
- Housing costs
- Transportation costs
- Utilities
- Food costs
- Taxes
- Other Expenses
- Income and job market
- Entertainment
Housing costs in Philadelphia
Whether you’re relocating for your career or have always wanted to live in Philadelphia, you’re sure to find plenty of housing options, from efficiency to condos and houses with varying amenities. The cost of living in Philadelphia will vary depending on the area of the city you choose, the type of housing you prefer, and the amenities you require.
A one-bedroom apartment in Philadelphia rents for around $1,445 per month, and a two-bedroom is around $1,700. Rent for one-bedroom apartments decreased by over 7% over the past year, while rent for two-bedroom apartments declined approximately 3.4%, according to Zumper’s National Rent Report. These are averages, so it’s important to note that rates can be higher or lower, but it’s possible to find great affordable apartments in the city.
Transportation costs
Philadelphia offers excellent public transportation for residents by bus or rail. The Southeastern Pennsylvania Transportation Authority (SEPTA) provides accessible transportation in the city. A one-day pass for transit is $9, but SEPTA also offers weekly passes for $25.50 and monthly passes for $96, making public transportation a convenient and affordable option for residents. The city is also accessible for pedestrians and cyclists.
Utilities
An important consideration for the cost of living in any city is the expense of utilities. In Philadelphia, you can expect to pay an average of $163 for utilities in a one-bedroom apartment. This estimate includes heat, electricity, cooling, water, and garbage service. Internet services run around $61 a month, depending on the speed and type of service you require. Several companies offer bundle packages for phone, internet, and cable, making these utilities even more affordable.
Food costs
For one adult, annual food costs in Philadelphia are around $5,424, and for a family of four food costs are estimated to be $10,806. Philadelphia has many grocery stores that offer significant cost savings, such as Aldi and Trader Joe’s, which often have prices lower than their competitors.
The restaurant, food truck, and overall food scene are vibrant. Eating out at inexpensive restaurants will cost around $15 for one person, and mid-range meals will cost around $55 per person, according to Numbeo.
Taxes
Annual income tax in Philadelphia is around $4,199 with an annual salary of $30,098, according to Living Wage. The sales tax rate is 8%, with 6% of that Pennsylvania state tax and 2% Philadelphia County tax.
Other expenses to consider in Philadelphia
Healthcare may be a cost to consider when moving to Philadelphia, but the city offers low-cost healthcare options and has city health centers with programs available based on family size and income. Philadelphia has top-rated healthcare facilities and doctors.
Winters are cold, so utilities may be higher in the colder weather, and you’ll need a warm winter wardrobe in the city. There are many options available for childcare, fitness centers, and other needs and amenities, to fit any budget.
Income and job market in Philadelphia
The average income in Philadelphia is $69,000 a year. The city has a positive job outlook, with the local job growth of 4.4% matching the national average. Some of the largest employers in the area include the University of Pennsylvania and Health System, Thomas Jefferson University and Jefferson Health, and Comcast Corp.
Entertainment
Philadelphia is a diverse city with a lot to offer its residents and newcomers. The city has an abundance of parks and trails providing free entertainment opportunities. The city also has a great collection of museums, some legendary sports teams, and excellent colleges and universities. Philadelphia is also considered the birthplace of the nation, and as such, there are a plethora of historic museums and sites for visitors and residents to enjoy, including:
- The National Constitution Center: $11-15 per ticket on average
- The Liberty Bell Center: Entry is first-come first-served, and there is no fee
- The Franklin Institute: Tickets cost $19-$23 per person
- Independence Hall: Entry is free, but you’ll be charged an administration fee of $1 per ticket for reserving your ticket
- Museum of the American Revolution: You can expect to pay between $13 and $21 per ticket, depending on the age of the ticket-holder
- Philadelphia’s Magic Gardens: A well-known spot for locals and many visitors, this mosaic gallery and sculpture garden charges $15 for adults and $8 for kids for entry
- Philadelphia Museum of Art: General admission will cost adults $25, but running up the steps to create the scene from “Rocky” is completely free
With all that the city of Philadelphia has to offer and boasting so many vibrant neighborhoods, you’re sure to find an apartment you can call home and a community you can enjoy. Congratulations on your move to Philadelphia. You’ll love it there!
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