What is a Livable Salary in Philadelphia? A Local Realtor’s Guide to Living Comfortably in Philly
If you’re thinking about making Philadelphia your home, one of the biggest questions on your mind is likely, “What kind of salary do I need to live comfortably here?” As a local Realtor and Philly resident, I can tell you that while Philadelphia offers a lower cost of living than nearby cities like New York or Washington, D.C., it’s still important to understand what a realistic budget looks like.
Philadelphia’s diverse neighborhoods and lifestyle options mean that your expenses can vary widely based on where you live, how you get around, and what lifestyle factors matter most to you. Here’s a breakdown of what you can expect for a “livable” salary in Philly, along with some tips to make the most of your money.
What’s Considered a Livable Salary in Philadelphia?
A livable salary in Philadelphia will depend on your personal lifestyle, household size, and specific needs, but most people will find that an income of around $50,000–$70,000 annually can provide a solid middle-class lifestyle for a single person. If you’re supporting a family, you might want to aim for a household income of at least $75,000–$100,000, depending on family size and lifestyle preferences.
That said, Philly offers options for all kinds of budgets, and you can adjust your expenses significantly depending on factors like housing choices, transportation, and entertainment.
Breaking Down the Basics: Monthly Living Costs in Philadelphia
To help you get a better idea of what to expect, here’s a closer look at the core expenses in Philly and how they might impact your budget.
Housing Costs: The Biggest Piece of the Puzzle
Housing is typically the largest expense for most Philadelphians, and rental or mortgage costs vary by neighborhood. You can find affordable housing, especially in up-and-coming areas or those slightly outside the city center.
- Renting: Expect to pay between $1,300–$2,700 per month for a one-bedroom apartment, depending on the neighborhood and level of building. For a two-bedroom apartment, you’ll likely pay between $1,700–$3300 per month.
- Buying a Home: If you’re thinking of buying, the median home price in Philadelphia is around $280,000. Monthly mortgage payments, property taxes, and homeowners insurance can vary, but for a modest single-family home, expect to spend around $1,800–$2,200 per month with a 20% down payment.
When I first moved to Philly, I rented in East Passyunk – a neighborhood known for its restaurants and cozy vibe. I loved the sense of community and easy access to Center City. Eventually, I bought a home in South Philly. The cost of buying wasn’t too much more than renting, so if homeownership is on your mind, it’s worth running the numbers to see if buying might actually be affordable!
Utilities and Internet
In addition to housing, don’t forget the cost of utilities, which can vary with the season. Here’s what you might expect monthly:
- Electricity, Heating, and Cooling: Around $150–$200 in the summer or winter, when heating or AC usage is high. In milder months, this can drop closer to $100.
- Water and Trash: Philadelphia’s water bills average around $50–$70 per month.
- Internet and Cable: High-speed internet typically costs $50–$70 per month. If you add cable TV, expect to pay an additional $50–$100 monthly, depending on the package.
To save on utilities, many people choose apartments or rowhomes with good insulation, which are common in Philly. My rowhome in South Philly stays pretty warm in the winter because of the shared walls, so I’m usually able to keep heating costs down.
Transportation Costs: Public Transit vs. Driving
Philadelphia’s public transit system, SEPTA, is reliable and affordable. Many residents don’t own a car, especially if they live near a SEPTA line or close to Center City.
- Public Transit: SEPTA monthly passes cost around $96 for unlimited travel on buses, trolleys, and trains. If you’re not commuting daily, single rides are $2.50 each.
- Driving: If you have a car, consider parking and insurance. Parking permits in some neighborhoods are $35 per year, but in others, street parking can be challenging. Car insurance is typically higher in Philadelphia, averaging $1,500–$2,500 annually.
Personally, I mostly rely on walking or Uber, and I only use a car for trips outside the city. It’s both cost-effective and less stressful, especially given Philly’s notorious parking challenges!
Food and Dining: Philly’s Culinary Scene on a Budget
Philadelphia has a thriving food scene, and you can find something at every price point, from famous cheesesteaks to high-end restaurants. Here’s a rough idea of food costs:
- Groceries: For one person, groceries might cost $300–$400 per month. For a family of four, expect to spend around $600–$800 monthly.
- Dining Out: Philly has an abundance of affordable and mid-range dining options. A casual meal out might cost $10–$20, while a nicer dinner at a sit-down restaurant could be around $60–$120 for two people.
One of my favorite ways to enjoy Philly’s food scene without breaking the bank is to hit up food trucks or neighborhood markets. Reading Terminal Market is a classic – you can get an amazing roast pork sandwich for less than $15!
Lifestyle Expenses: Entertainment, Fitness, and More
Once you’ve covered housing, utilities, and food, you can budget for lifestyle expenses. Philly is a great place to have fun without spending a fortune.
Entertainment and Nightlife
Philadelphia has plenty of free or low-cost events year-round, from outdoor festivals to free museum days. For budget-friendly entertainment, check out:
- Museums: The Philadelphia Museum of Art has “Pay What You Wish” Wednesdays, and many other museums offer free days each month.
- Sports: Philly is a sports-loving city! Tickets to see the Phillies, Eagles, or Sixers can range from $20 for upper-deck seats to much more for premium seats. Pro tip: Buy them last minute on secondary market sites and you can score a great deal.
- Live Music and Theater: Catch live music or local theater shows for $10–$40 per ticket at places like The Fillmore, World Café Live, or FringeArts.
One time, a group of friends and I decided to explore First Fridays in Old City – a monthly art event where galleries open for free, and local artists display their work. We had an incredible time seeing new art, and the best part? It didn’t cost us a dime.
Fitness and Wellness
Gym memberships in Philly vary, depending on the facility. A standard gym membership will run around $30–$50 per month, while boutique studios or specialized classes might cost $100–$200 per month. Pro tip: sometimes living in a building with amenities will save you money or gym and pool memberships as they are included in the rent.
If you’re looking for free options, the city’s parks are wonderful for outdoor exercise. The Schuylkill River Trail is a favorite for runners and bikers. During the fall, it’s absolutely beautiful, and the views alone make it worth it.
Tips for Making the Most of Your Money in Philadelphia
Living comfortably in Philadelphia is all about understanding where you can save and where it’s worth splurging. Here are a few practical tips to maximize your income and enjoy the city without overspending:
1. Choose a Neighborhood That Matches Your Budget
Philly’s neighborhoods have different vibes and price points. You can save significantly by choosing a neighborhood that aligns with your budget. While Center City and Rittenhouse Square are pricier, areas like Fishtown, East Passyunk, or Roxborough can offer more affordable housing while still providing great amenities.
2. Take Advantage of Free Activities
Philadelphia has a lot of free events, especially in spring and summer. Whether it’s concerts, art fairs, or outdoor movie nights, there’s always something happening in the city. Keeping an eye on community calendars can help you make the most of these events.
3. Shop Local at Markets and Grocery Outlets
Shopping at local markets can be a great way to save on fresh produce. Places like the Italian Market and farmers’ markets around the city offer fresh ingredients at lower prices than many supermarkets. I often buy fruits and veggies from the Italian Market – not only is it affordable, but I love the community vibe.
4. Use Public Transit or Consider Biking
If you live in a walkable area, using public transit or biking can save you a ton in car-related costs. SEPTA is an efficient way to get around, and there’s even an Indego bike-share program if you prefer biking.
Is Philadelphia Affordable for You?
In general, a salary of $50,000–$70,000 can allow a single person to live comfortably, while families might aim for closer to $75,000–$100,000 to cover added expenses. Philly’s affordability compared to many major East Coast cities is a huge plus, and with a little budgeting, you can enjoy all the city has to offer.
Living in Philadelphia means being part of a vibrant, historical community with diverse culture and affordable options for all kinds of lifestyles. If you’re thinking about making Philly your home, consider what matters most in your budget – whether it’s location, dining out, or entertainment – and create a plan that lets you live well without breaking the bank.
