Home Price Key
Affordable
Average
Expensive
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 $296,499, higher than the Pennsylvania average of $222,630.
The average cost of rent is $1,420/mo in Philadelphia, primarily driven by the current value of real estate in the Philadelphia area. While nearly 34.67% of residents own their homes outright in Philadelphia, 30.09% rent.
Housing affordability isn’t just about home prices, though. The average household income in Philadelphia is $7,831 per month. Households that rent pay about 18.13% of their income on rent here. Philadelphia's most expensive areas are in the central regions, while the cheapest areas are in the southern parts of the city.
Nearby Cities
- Cheltenham, PA: less expensive homes
- Elkins Park, PA: equally priced homes
- Camden, NJ: less expensive homes
- Pennsauken, NJ: less expensive homes
- Bala-Cynwyd, PA: higher priced homes
- Wyncote, PA: higher priced homes
- Merion Station, PA: higher priced homes
- Rockledge, PA: less expensive homes
- Merchantville, NJ: less expensive homes
- Palmyra, NJ: less expensive homes
Cities with Similar Populations
- Bremerton, WA: higher priced homes
- Bowie, MD: higher priced homes
- Buckeye, AZ: equally priced homes
- Brandon, FL: less expensive homes
- Bethesda, MD: higher priced homes
- Boca Raton, FL: higher priced homes
- Bend, OR: higher priced homes
- Bridgeport, CT: higher priced homes
- Brandon, MS: less expensive homes
- Binghamton, NY: less expensive homes
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