The cost of living in Jersey City, NJ is 58.8% higher than in Philadelphia, PA. You would have to earn a salary of $95,257 to maintain your current standard of living. Employers in Jersey City, NJ typically pay 12.3% more than employeers in Philadelphia, PA.
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Is it cheaper to live in Pennsylvania than New Jersey?
However, most experts seem to agree that the New Jersey suburbs are generally more affordable than their PA counterparts. Movoto’s list of the top 10 most expensive Philadelphia suburbs includes eight Pennsylvania suburbs, for example, while only two are located in New Jersey.
Can I live in New Jersey and work in Philadelphia?
Yes, you claim a credit for taxes paid to Philadelphia on your NJ return.However, you should have a W2 showing NJ taxes withheld. NJ and PA have reciprocity, so residents only pay state tax to their home state.
Is it cheaper to live in Philadelphia?
Philly has it all! Here’s the deal: Philadelphia is the 12th most expensive city in North America according to a cost of living index comparison done by Expatistan.com.From the bar graph below, Philly is over 20% more expensive than Phoenix or Dallas and 40% more expensive than San Antonio.
How much money do you need to live comfortably in Philadelphia?
As a one-bedroom apartment in Philadelphia currently sits at $1,094, renters should earn a minimum of $3,282 per month before taxes to live comfortably. That translates to $39,384 before taxes.
Are taxes higher in NJ or PA?
He said New Jersey’s sales tax rate in 2020 is 6.625%. Pennsylvania’s sales tax rate is 6%.Pennsylvania has a single tax bracket of 3.07%. “In New Jersey, a single person with over $35,000 in taxable income would be at the 3.5% tax rate,” he said.
What is the richest part of Philadelphia?
The Richest Neighborhoods In Philadelphia For 2021
- Chestnut Hill.
- Riverfront.
- City Center East.
- City Center West.
- Fairmount-Spring Garden.
- Schuylkill Southwest.
- Roxborough.
- Marconi Plaza-Packer Park.
Do I have to pay Pennsylvania state tax if I live in NJ?
NJ Taxation
Compensation paid to Pennsylvania residents employed in New Jersey is not subject to New Jersey Income Tax under the terms of the Reciprocal Personal Income Tax Agreement between the states. Similarly, New Jersey residents are not subject to Pennsylvania income tax either.
Do I need to file Pennsylvania state taxes if I live in NJ?
For tax purposes, your PA wages are considered NJ income, and are fully taxable by NJ.The only reason you’d have to file a non-resident PA return is if your employer mistakenly withheld PA taxes, or if you had PA income other than W-2 wages, such as rental income from a property located in PA.
Do NJ residents pay Philadelphia taxes?
HOW DOES THIS AFFECT PA RESIDENTS WORKING IN NJ? Starting in 2018, PA residents working in NJ will file a NJ income tax return then file a PA Income Tax Return (PA- 40).The credit is the lesser of tax paid to NJ or the income subject to tax in both states times 3.07%.
Why is Philly so cheap?
During its decade of population growth, Philadelphia’s home prices essentially tracked the rate of inflation. Unlike newer cities that have the option of relatively cheap greenfield development, the Census designates nearly all of Philadelphia’s neighborhood as urban, the densest designation.
Is it worth living in Philadelphia?
With affordable housing, job opportunities in the healthcare and education industries, incredible arts and culture, highly-rated universities, and much more, Philly has become a top destination for people who want to live on the East Coast but don’t want to pay New York City or Washington, DC prices.
Is Philadelphia considered high cost of living?
Philadelphia, Pennsylvania’s cost of living is 17% higher than the national average. The cost of living in any area can vary based on factors such as your career, its average salary and the real estate market of that area.
Is Philadelphia a black city?
Non-Hispanic Black people make up 32% of Philadelphia’s population, and 44% when including Hispanic Black people. The native Black population represents the vast majority of Black Americans in the city and about 39% of the citywide population.
What jobs pay the most in Philadelphia?
Detailed List Of Highest Paying Jobs In Philadelphia
| Rank | Job Title | Average Salary |
|---|---|---|
| 1 | Obstetricians and Gynecologists | $281,390 |
| 2 | Surgeons, Except Ophthalmologists | $265,680 |
| 3 | General Internal Medicine Physicians | $255,350 |
| 4 | Oral and Maxillofacial Surgeons | $253,380 |
What is a good salary in Philly?
Average Salary in Philadelphia, PA
| Annual Salary | Hourly Wage | |
|---|---|---|
| Top Earners | $89,779 | $43 |
| 75th Percentile | $73,819 | $35 |
| Average | $61,584 | $30 |
| 25th Percentile | $49,378 | $24 |
Can I live in PA and work in NJ?
You’re correct, NJ and PA do have tax reciprocity for W-2 wages. If your only income from NJ was W-2 wages, you do not have to file a NJ tax return. That income is taxable only by your home state of PA.
What are the benefits of living in Pennsylvania?
Pros
- A low cost of living.
- Excellent health care.
- Plenty of outdoor fun.
- The cold.
- Far from the beach.
- Liquor laws.
- Taxes and traffic.
How much do you need to make to live comfortably in NJ?
Typical Expenses
| 1 ADULT | 2 ADULTS (1 WORKING) | |
|---|---|---|
| 0 Children | 3 Children | |
| Required annual income after taxes | $28,406 | $64,838 |
| Annual taxes | $5,290 | $16,535 |
| Required annual income before taxes | $33,696 | $81,373 |
What part of Philly is the nicest?
RITTENHOUSE SQUARE (Center City)
In Center City, Philadelphia’s downtown area, Rittenhouse Square is one of the most beloved and fashionable regions of Philly.
Where do millionaires hang out in Philadelphia?
bars that are cool for finding rich men in Philadelphia, PA
- Lair KTV | Sky Club. 0.7 mi. $$ Karaoke, Lounges, Chinese.
- The Ranstead Room. 0.2 mi. 479 reviews.
- Attico Rooftop Lounge. 0.5 mi. 205 reviews.
- Hop Sing Laundromat. 0.8 mi. 902 reviews.
- Talula’s Garden. 1.0 mi.
- Assembly. 0.2 mi.
- Oscar’s Tavern. 0.3 mi.
- 1 Tippling Place. 0.2 mi.
