New York vs Philadelphia
New York, NY · Philadelphia, PA
Philadelphia is 46% cheaper than New York overall.
Home Price
New: $750,000
Philadelphia: $265,000
Monthly Rent
New: $3,600/mo
Philadelphia: $1,350/mo
COL Index
New: 187
Philadelphia: 101
Median Income
New: $76,607
Philadelphia: $54,800
Side-by-Side Comparison
Median Home Price
Monthly Rent (Median)
Median Household Income
Property Tax Rate
Cost of Living Index
100 = national average
Avg. Commute
Unemployment Rate
Median Age
What This Means For You
Buying Power
A $100,000 salary in New York has the same purchasing power as $54,011 in Philadelphia — based on each city's cost of living index.
Housing
Homes in Philadelphia cost 65% more (-$485,000 extra). Expect a larger mortgage and down payment.
Renting
Renting in Philadelphia saves you $2,250/month — $27,000 per year. Median rent: $3,600/mo in New York vs $1,350/mo in Philadelphia.
Property Taxes
On a median-priced home, New York owners pay roughly $12,750/year in property taxes vs $3,710/year in Philadelphia. That's a $9,040 annual difference.
Local Earnings
Median household income is $76,607 in New York and $54,800 in Philadelphia. Philadelphia residents earn 28% more — but remember to factor in cost of living.
Daily Commute
Average commute is 36 minutes in New York vs 30 minutes in Philadelphia. Over a year, that's 3000 extra minutes (50 hours) of commuting in New York.
Salary Equivalence
To maintain the same lifestyle when moving from New York to Philadelphia, here's the salary you'd need:
| Salary in New York | Equivalent in Philadelphia | Difference |
|---|---|---|
| $50,000 | $27,005 | -$22,995 |
| $75,000 | $40,508 | -$34,492 |
| $100,000 | $54,011 | -$45,989 |
| $150,000 | $81,016 | -$68,984 |
| $200,000 | $108,021 | -$91,979 |
* Calculated using cost of living indices (national average = 100). Does not account for state income tax differences.
Run the Numbers
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Cost of Living
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New York vs Philadelphia: Common Questions
Is New York or Philadelphia cheaper to live in?
Based on cost of living indices, Philadelphia is cheaper overall. New York has a COL index of 187 while Philadelphia scores 101 (national average = 100).
How do home prices compare between New York and Philadelphia?
The median home price in New York is $750,000 vs $265,000 in Philadelphia — a difference of $485,000 (65%).
What salary do I need in Philadelphia to match my New York income?
Use the salary equivalence table above. For example, a $100K salary in New York is equivalent to $54,011 in Philadelphia in terms of purchasing power.
Which city has lower property taxes?
Philadelphia has a lower property tax rate (1.4% vs 1.7%). On a median-priced home, that means paying $3,710/year vs $12,750/year.
Cost of living data sourced from Council for Community and Economic Research (C2ER) Cost of Living Index, U.S. Census Bureau American Community Survey, and Zillow Research. Tax rates from Tax Foundation and state revenue agencies. Last updated: March 2025.