Philadelphia, PA
Philadelphia County · Pop. 1,576,251
Ranked #117 of 243 cities
40Moderate
Median Home Price
🏠$270K
4.5% YoY
Median Rent
🔑$1,450
3.0% YoY
Median Income
💰$48K
Rent Burden
📊36.0%
% of income to rent
Income to Buy
🏦$78K
annual income needed
Income to Rent
📝$58K
annual income needed
Price-to-Income
⚖️5.6x
Homeownership
🏡52.0%
Rent vs. Buy
Buy
$1,437/mo
Est. mortgage (7%, 20% down)
Need $78K/yr income
Rent
$1,450/mo
Median rent
Need $58K/yr income
How Philadelphia Compares
| Metric | Philadelphia | Pennsylvania | National |
|---|---|---|---|
| Home Price | $270K | $260K | $410K |
| Rent | $1,450 | $1,197 | $1,500 |
| Income | $48K | $74K | $75K |
| Rent Burden | 36.0% | 31.5% | 30.0% |
Key Takeaways
- • Home prices in Philadelphia are 34% lower than the national average.
- • Rent is 3% lower than the national average.
- • You need an income of $78K to comfortably buy a home here.
- • The homeownership rate is 52.0%, compared to 65.0% nationally.