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These days, finding an affordable place to live in the Philadelphia area can be challenging. Home prices in Philadelphia are now at a median cost of $280,382, higher than the Indiana average of $232,932.
The average cost of rent is $1,206/mo in Philadelphia, primarily driven by the current value of real estate in the Philadelphia area. In Philadelphia, 15.34% of households rent, and 40.73% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Philadelphia is $7,421 per month. Households that rent pay about 16.25% of their income on rent here. Philadelphia’s most expensive areas are in the central regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Spring Lake, IN: equally priced homes
- Greenfield, IN: less expensive homes
- Mohawk, IN: higher priced homes
- Gem, IN: equally priced homes
- Mount Comfort, IN: less expensive homes
- Finly, IN: less expensive homes
- New Palestine, IN: higher priced homes
- Maxwell, IN: equally priced homes
- Cumberland, IN: less expensive homes
- Woodbury, IN: equally priced homes
Cities with Similar Populations
- Hopkinton, NY: less expensive homes
- Tarkio, MT: higher priced homes
- Tarboro, GA: less expensive homes
- Tar Fork, KY: less expensive homes
- Talmage, KS: less expensive homes
- Tallulah Falls, GA: higher priced homes
- Talcottville, NY: less expensive homes
- Talcott, WV: less expensive homes
- Talbott, WV: less expensive homes
- Sun, NY: less expensive homes
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