New York, NY vs Philadelphia, PA: Cost of Living Comparison
Updated November 2026
Philadelphia is the cheaper place to live: overall prices in New York are 11.7% higher, and housing prices differ the most (138.6 in New York vs 106.3 in Philadelphia). A single adult's modelled budget is $3,490 a month in New York and $2,782 in Philadelphia.
Side-by-side figures
| Measure | New York, NY | Philadelphia, PA |
|---|---|---|
| Local cost index (CostLiving estimate) | 113.5 | 101.5 |
| BEA index for the area | 112.6 | 102.6 |
| Housing (rents) | 138.6 | 106.3 |
| Goods | 110.3 | 96.8 |
| Utilities | 127.0 | 114.4 |
| Other services | 105.8 | 103.1 |
| Monthly budget, single adult | $3,490 | $2,782 |
| Monthly budget, couple | $5,199 | $4,477 |
| Monthly budget, family of 4 | $6,335 | $5,279 |
| Median gross rent | $1,821 | $1,397 |
| 1-bedroom rent | $1,742 | $1,242 |
| 2-bedroom rent | $1,827 | $1,471 |
| 3-bedroom rent | $2,123 | $1,492 |
| Median home value | $777,600 | $243,100 |
| Median household income | $80,483 | $61,953 |
| Rent as % of renter income | 31.3% | 31.4% |
| Home value ÷ income | 9.7× | 3.9× |
| Electricity (state, ¢/kWh) | 28.65 | 21.77 |
| Regular gasoline ($/gal) | $4.22 | $4.23 † |
| Population | 8,483,844 | 1,579,706 |
* fallback value (see notes) · † regional gasoline figure. Local index: CostLiving estimate from BEA RPP 2024 and ACS rents; housing and income: Census ACS 2020-2024; electricity: EIA August 2026; gasoline: EIA week of 2026-11-02.
Prices by category
New York, NY
New York price index by category, US average = 100: All items 113.5, Housing (rents) 138.6, Goods 110.3, Utilities 127.0, Other services 105.8
Philadelphia, PA
Philadelphia price index by category, US average = 100: All items 101.5, Housing (rents) 106.3, Goods 96.8, Utilities 114.4, Other services 103.1
Monthly budget, family of 4
| Category | New York | Philadelphia | Difference |
|---|---|---|---|
| Housing (rent) | $1,966 | $1,252 | −$714 |
| Utilities | $614 | $582 | −$32 |
| Food at home | $819 | $719 | −$100 |
| Transportation | $1,830 | $1,682 | −$148 |
| Health care | $642 | $626 | −$16 |
| Clothing, personal care & supplies | $464 | $418 | −$46 |
| Total | $6,335 | $5,279 | −$1,056 |
Modelled estimate, excluding taxes and child care. How it is calculated.
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Frequently asked questions
Is Philadelphia more expensive than New York?
No. Overall prices in Philadelphia, PA (index 101.5) are 10.5% lower than in New York, NY (index 113.5), based on our local cost index (BEA Regional Price Parities 2024 adjusted for local rents). The biggest gap is in housing (rents): 106.3 vs 138.6.
What salary do I need in Philadelphia to match $60,000 in New York?
About $53,700. Going the other way, $60,000 in Philadelphia buys about as much as $67,000 in New York. Taxes are not included.
Is rent cheaper in New York or Philadelphia?
Median gross rent is $1,821 in New York and $1,397 in Philadelphia (−23.3% in Philadelphia; Census ACS 2020-2024). Median home values are $777,600 and $243,100.
Notes
- Philadelphia: gasoline price - PADD region (EIA publishes weekly prices for only 9 states).
Not financial advice. Methodology · Sources