How Expensive Is Philadelphia, PA?
Living in Philadelphia is about 3% more expensive than the U.S. average.
Based on official federal data, Philadelphia has an overall cost-of-living index of 102.6, where 100 is the national average. That places it 3% above the national average. The typical household earns $60,698 a year and pays a median rent of $1,323 a month.
Cost of Living Index in Philadelphia
The index compares local prices to the national average of 100. Here is how Philadelphia breaks down by category.
| Category | Index (U.S. = 100) | vs. average |
|---|---|---|
| Overall | 102.6 | +3% |
| Housing (rents) | 113.1 | +13% |
| Goods | 96.8 | -3% |
| Other services | 114.4 | +14% |
Housing and Rent in Philadelphia
The median gross rent in Philadelphia is $1,323 a month, and the median home value is $232,400. The table below shows HUD Fair Market Rents by apartment size for the metro area.
| Apartment size | Fair Market Rent |
|---|---|
| Studio | $1,397 |
| 1 bedroom | $1,520 |
| 2 bedrooms | $1,810 |
| 3 bedrooms | $2,170 |
| 4 bedrooms | $2,423 |
Income in Philadelphia
The median household income in Philadelphia is $60,698 a year. With a local cost-of-living index of 102.6, that income goes less far than it would in an average U.S. city.
Salary Needed to Live in Philadelphia
To cover housing and everyday costs at the local price level, a single person needs an estimated $60,800 a year, and a family of four about $86,800. These estimates keep rent at roughly 30% of gross pay and adjust other costs to local prices.
These figures are estimates based on public data (BEA, Census, HUD) and a standard budget model. Actual costs vary by lifestyle.
Compare Philadelphia With Other Cities
See how the cost of living in Philadelphia stacks up against other U.S. cities, side by side.
Frequently Asked Questions
Is Philadelphia expensive to live in?
Philadelphia has a cost-of-living index of 102.6, which is 3% above the national average. It is more expensive than a typical U.S. city, driven mainly by housing.
How much money do you need to live in Philadelphia?
A single person needs about $60,800 a year to live comfortably in Philadelphia, while a family of four needs roughly $86,800, based on local rents and prices.
What is the average rent in Philadelphia?
The median gross rent in Philadelphia is $1,323 a month. HUD Fair Market Rent for a one-bedroom in the metro area is $1,520.
Data Sources
Cost-of-living index from the U.S. Bureau of Economic Analysis (Regional Price Parities, 2024). Income, rent, and home value from the U.S. Census Bureau (American Community Survey 5-Year, 2023). Fair Market Rents from the U.S. Department of Housing and Urban Development (FY2026).