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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 $209,059, lower than the Tennessee average of $315,131.
The average cost of rent is $796/mo in Philadelphia, primarily driven by the current value of real estate in the Philadelphia area. In Philadelphia, 17.38% of households rent, and 52.46% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Philadelphia is $6,294 per month. Households that rent pay about 12.65% of their income on rent here. Philadelphia’s most expensive areas are in the northwestern regions, while the cheapest areas are in the northeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Northpoint, TN: higher priced homes
- Sweetwater, TN: equally priced homes
- Fochee, TN: higher priced homes
- Rockville, TN: higher priced homes
- Loudon, TN: higher priced homes
- Paint Rock, TN: higher priced homes
- Dogwood, TN: higher priced homes
- Riddles Store, TN: equally priced homes
- Hiwassee College, TN: higher priced homes
- Erie, TN: higher priced homes
Cities with Similar Populations
- Warrenton, NC: less expensive homes
- Washington, GA: less expensive homes
- Webster, FL: equally priced homes
- Watseka, IL: less expensive homes
- White Pigeon, MI: equally priced homes
- Watertown, MN: higher priced homes
- Dolores, CO: higher priced homes
- Dewey, OK: less expensive homes
- DeWitt, AR: less expensive homes
- Dexter, NM: less expensive homes
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