Philadelphia’s cost of living in early 2026 is slightly above the national average. It is estimated at between five and 14% higher overall, depending upon the particular cost-of-living factors in the calculation.
The website Rent Café puts it at 5% higher, whereas the website salary.com put that at 14% higher than the national average. Both websites have used different factors in tabulating their overall calculation. Though the cost of living is a bit higher than the overall national average. It is very affordable for the northeast United States. Compared to New York City, for example, Philadelphia is 22% less expensive in terms of cost of living in several aspects, except for rent.
What is the Cost of Living in Philadelphia in 2026?
Monthly cost of living, not including average rent
The latest calculations show that the average single person spends around $1393 for living expenses outside of paying for housing. The average couple spends around $2832. The average family of four spends about $5027these numbers, of course, can be higher or lower depending upon individual lifestyle habits and preferences.
Rent
The average apartment rent around Philadelphia is between $1600 and $1982 per month. These are numbers reported by RentCafe.
Groceries/food
The average grocery budget is about 4 to 5% above the national average.
Estimate of the cost to live comfortably in Philadelphia
For a single person, it is estimated that the average person could live comfortably with a budget of $42,844. This is lower than the comfortable budget for many surrounding suburbs and neighboring cities.
Home prices
The median home price in Philadelphia is between $227,000 and $265,000. The median estimate for the metro/greater Philly area is between $300,000 and $378,000. Home prices have risen modestly in the last year. In the last quarter of 2025, home values rose between 2 and 3% when looking at year-over-year figures. It is forecasted that some prices will continue to see a slow and steady growth between 1 and 3% through 2026.
How an area’s cost-of-living can impact a home purchase
It is important to know the cost of living in the area where you plan to purchase a home. It helps homebuyers to budget more wisely for their home purchase. It helps them to be prepared for the general costs that they need to pay for in other areas besides housing, to know an approximate amount they need to have available after purchasing their home.
Budgeting with a fine-tooth comb and knowing all of the potential numbers and how they fit into your take-home income will help you to make a sound and solid investment in a Philadelphia home. It will help you to make more sound and informed decisions, which will give you more peace of mind and help you to more comfortably afford everyday life. It can be easy to get tangled up in purchasing a home that might be just above a comfortable affordability, when factoring in other costs. Factoring all of the costs together as you are contemplating a Philadelphia home purchase is a great starting point.
If you are ready to begin searching for homes in Philadelphia, I am happy to help. I am the team at Victory Real Estateis highly experienced. We are a boutique Philadelphia real estate agency dedicated to the specific needs of every client.
“Leron is very helpful with answering my questions and is very patient with addressing my concerns. It was nice to have someone who cares very much of his customers.”-review of Victory Real Estate verified by a realtor.com