Philadelphia is a contemporary, glowing, multicultural city on the east coast. This city is known to some as the cornerstone of the Northeast coast, so you might expect the cost of living to be high.
While Philadelphia is the nation's sixth largest city in population, it's surprisingly affordable to live here. Of course, living in Philadelphia requires standard expenses such as rent, utilities, and transportation costs, but you should also consider additional fees such as the Philadelphia City Tax.
Follow along for some insight into what you should expect when living in Philadelphia.
In most cases, 30 percent of the household budget goes to housing, irrespective of where you live. The cost of Philadelphia rentals is about 16.8 percent more expensive than the average across the U.S.
To put it into perspective, Philadelphia is the 46th most expensive city to live in the U.S. Apartments and rentals in Philadelphia are cheaper than places like Baltimore, Portland, Denver, and Stockton.
The cheapest Philadelphia rental is a one-bedroom unit, which costs about $1 175 per month. The areas with the lowest rent costs include:
A lone bedroom in these regions can cost over $2,300. The most expensive areas to live in are;
The average monthly utility cost is about $150.32 for apartments in Philadelphia. The bill includes garbage pickup, heating/cooling, water, and electricity. On top of this, wi-fi or internet costs around $60.99 per month, thus raising the overall price to $211.31 per month.
Many landlords might require renters insurance. Insurance in Philadelphia is around $212 per year or $18 per month. If you plan to live in apartments in Philadelphia, you can save as much as $20 per month by shopping around. USAA can give affordable options of an average rate of $ 10 per month. Other options can cost up to $30 monthly.
The prices for food and beverage in Philadelphia are reasonable but slightly higher when compared to other cities. Philadelphia is ranked number 16 among all the cities in the U.S. Its food prices are more affordable than suburban D.C., Wilmington, and Seattle. This applies to standard groceries as well as going out to eat.
Commuting in Philadelphia can be expensive if you drive your own personal car. Philadelphia has high traffic congestion rates that tend to result in lots of gas consumption. Additionally, the cost of parking your car is relatively expensive in comparison to other cities.
Fortunately, Philadelphia has a public transport system that uses trains and buses. The price for a single trip is $2.50 for one trip, regardless of distance and time. Many find public transportation to be the most affordable and effective way to get around the city.
The total sales tax rate in Philadelphia is 8 percent. The non-sales-taxed commodities include food, clothes, medicine, and drug store items. Philadelphia charges a sugary drink tax. The proceeds from the sugary drink tax go to recreation and educational programs.
Irrespective of your budget, an ideal Philadelphia apartment is waiting for you. If you're looking for a Philadelphia rental, check out our available properties!
Each of our properties features a unique design and artistic finish that professionals can appreciate. Available properties for rent include single-family homes, duplexes, lofts, apartment complexes, and mixed-use commercial properties.
