New York vs Philadelphia: cost of living compared
Philadelphia is 40% cheaper than New York overall. State income tax tops out around 3.07% in PA vs 6.5% in NY.
Indexes use a US average of 100: below 100 is cheaper than the national average. Housing and transportation are derived from median home prices, rents and commute times; figures come from BLS, Census ACS, Numbeo and the MIT Living Wage Calculator.
The big picture
New York is a substantially more expensive place to live overall compared to Philadelphia. The most significant factor driving this difference is housing, which is considerably higher in New York. Transportation costs also contribute to New York's elevated expenses, making daily life noticeably pricier in the larger metro. Other categories like food, healthcare, and utilities, while still higher in New York, show a smaller gap in comparison.
Housing
Both buying and renting are dramatically more expensive in New York than in Philadelphia. Median home prices in New York are many times higher, and median rents for a one-bedroom apartment show a similar, substantial difference. New York's housing stock often includes high-rise apartments and historic brownstones, while Philadelphia offers a broader mix of row houses, townhouses, and some detached homes, generally at a much lower price point.
Taxes and everyday costs
Daily spending on essentials varies significantly. New York has a higher state income tax rate compared to Philadelphia. Transportation costs are noticeably higher in New York, though both cities offer extensive public transit. Food, healthcare, and utilities are also more expensive in New York, meaning that groceries, medical visits, and monthly bills will all require a larger portion of a household budget there.
Lifestyle trade-offs
New York offers a faster-paced, denser urban experience with extensive public transit and a longer average commute time. Philadelphia, while still a major city, generally presents a slightly more relaxed pace and a shorter average commute. Both cities experience distinct four seasons, but New York's sheer scale and density contribute to its unique character, while Philadelphia maintains a strong sense of neighborhood and historical charm.
Bottom line
Moving from Philadelphia to New York would mean a substantial increase in overall living expenses, primarily driven by housing and transportation. Conversely, a move from New York to Philadelphia would free up a significant portion of a household's budget. The decision hinges on whether the higher costs in New York are justified by its unique opportunities and lifestyle, or if Philadelphia's affordability and distinct character are more appealing.
| Measure | New York, NY | Philadelphia, PA |
|---|---|---|
| Overall cost of living (US avg = 100) | 187 | 112 |
| Housing index | 200 | 91 |
| Transportation index | 171 | 120 |
| Food index | 118 | 105 |
| Healthcare index | 122 | 108 |
| Utilities index | 115 | 105 |
| Misc index | 125 | 102 |
| Median home price | $685,000 | $298,000 |
| Median 1-bedroom rent | $3,200/mo | $1,550/mo |
| Average commute | 47 min | 34 min |
Compare any two metros with the free cost of living tool, or see the true monthly cost of a specific Philadelphia home with the True Cost Calculator.