That’s according to a new analysis by Go Banking Rate, which found that you need to make exactly $59,384 to be able to live in Philadelphia. That’s based on the budgeting rule that you spend 50 percent of your income on necessities, 30 percent for discretionary spending, and 20 percent for savings.
Contents
How much do you need to earn 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 $39,384 before taxes.
How much does a single person need to live in Philadelphia?
Summary about cost of living in Philadelphia, PA, United States: Family of four estimated monthly costs are 3,712$ without rent. A single person estimated monthly costs are 1,039$ without rent. Philadelphia is 21.76% less expensive than New York (without rent).
What is the average cost of living in Philadelphia?
Philadelphia cost of living is 101.2
| COST OF LIVING | Philadelphia | Pennsylvania |
|---|---|---|
| Grocery | 102.5 | 100.3 |
| Health | 98.4 | 97 |
| Housing | 66.3 | 75.1 |
| Median Home Cost | $221,400 | $234,800 |
Is Philadelphia expensive to live in?
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.
Is 60000 a good salary?
Is $60,000 a Year a Good Salary? If you have a salary or income of $60,000, it means you’re making 5 figures a year. While you may be an average earner with such an annual income, it’s possible to live on it comfortably. In fact, many lower earners dream to make such an amount.
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 |
Are apartments expensive in Philadelphia?
In January 2021, the average rent for an apartment in Philadelphia was $1,666 (compared to the national average of $1,465).Neighborhoods like Belmont, Saunders Park, University City, and West Powelton are among the most expensive in Philadelphia, where the monthly asking prices reach $2,519.
How is 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 cheaper than NYC?
Easier life for families. According to Numbeo, the cost of living in Philadelphia is 23% cheaper than NYC. For families, or couples hoping to start a family, this becomes a huge attraction, as larger families may find it difficult to afford life in NYC.
Is Philadelphia livable?
The livability score in Philadelphia is 59/100 and the city is ranked in the 15th percentile of all cities across America. Compared to the national average, this city has a score which ranks among the lowest in the nation, and it is not considered a very livable city.
Do you need a car in Philadelphia?
Parking Information
One of the things that makes Philadelphia great is its compact Center City. Our neighborhoods are so walkable that you really don’t need your car. After arriving, you can get around Center City and most of Philadelphia’s eclectic neighborhoods easily on foot, via cab or public transportation.
Why is rent so expensive 2021?
The cost of housing is increasing because of a historic supply deficit. New-home construction over the last two decades has lagged by 5.5 million to 6.8 million units compared to the previous 30 years, according to a report released over the summer by the National Association of Realtors.
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.
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.
Is Philadelphia a fun place to live?
Is Philadelphia a good place to live? Located close to New York, Philly has a well-established culture and friendly vibe. It’s a terrific city with a lively downtown scene, excellent restaurants, major universities, and an impressive waterfront. The cost of living is also reasonable.
What is $30 an hour annually?
Comparison Table Of $30 An Hour
| $30 An Hour | Total Income |
|---|---|
| Yearly (50 weeks) | $60,000 |
| Yearly (262 Work Days) | $62,880 |
| Monthly (175 Hours) | $5,250 |
| Weekly (40 Hours) | $1,200 |
How much is 70k a year hourly?
A salary of $70,000 equates to a monthly pay of $5,833, weekly pay of $1,346, and an hourly wage of $33.65.
What is 80k hourly?
If you make $80,000 per year, your hourly salary would be $41.03. This result is obtained by multiplying your base salary by the amount of hours, week, and months you work in a year, assuming you work 37.5 hours a week.
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 |
Is it cheaper to live in New Jersey or Philadelphia?
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.
