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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 $130,544, lower than the Mississippi average of $183,008.
The average cost of rent is $920/mo in Philadelphia, primarily driven by the current value of real estate in the Philadelphia area. In Philadelphia, 28.40% of households rent, and 61.83% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Philadelphia is $4,973 per month. Households that rent pay about 18.50% of their income on rent here. Philadelphia’s most expensive areas are in the eastern regions, while the cheapest areas are in the western parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Longino, MS: higher priced homes
- Deemer, MS: less expensive homes
- Ocobla, MS: higher priced homes
- Spring Creek, MS: higher priced homes
- Burnside, MS: equally priced homes
- Sandtown, MS: equally priced homes
- McDonald, MS: less expensive homes
- Trapp, MS: less expensive homes
- Linwood, MS: less expensive homes
- Pearl River, MS: less expensive homes
Cities with Similar Populations
- Highland, NY: higher priced homes
- Jackson, OH: higher priced homes
- Ipswich, MA: higher priced homes
- Inwood, WV: higher priced homes
- Hudson Falls, NY: higher priced homes
- Hopkins, SC: higher priced homes
- Homosassa Springs, FL: higher priced homes
- Holly Springs, MS: higher priced homes
- Holly Hill, FL: higher priced homes
- Holiday City-Berkeley, NJ: higher priced homes
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