Is it Cheaper to Live in Philadelphia Compared to New York?

Home | Blog | Is it Cheaper to Live in Philadelphia Compared to New York?
Is it Cheaper to Live in Philadelphia Compared to New York? | Philadelphia Skyline |

Reading Time: ( Word Count: )

Yes, Philadelphia is about 40% cheaper compared to New York City.

“Affordability, walkability, more space and easy access to city life is attracting people from more expensive markets to resettle in the Philadelphia area – particularly since the start of the Covid-19 pandemic and shift to remote work. New York transplants are leading the way….” Philadelphia Business Journal.

Philadelphia vs New York: What’s the Difference?

While Philadelphia and New York are both major cities, there are several cost-of-living differences.

We’ll compare two upscale neighborhoods to give you an idea of the cost differences between the two cities.

A one-bedroom apartment in Chelsea in Manhattan, New York costs $4,921 on average while a one-bedroom apartment in Rittenhouse neighborhood of Philadelphia costs $2,086 per month. Chelsea costs 135% more.

fox chase train

Beautiful Fox Chase in Northeast Philadelphia Hshuvaeva, CC BY-SA 3.0, via Wikimedia Commons

You can save even more by going to more affordable and desirable neighborhoods in the Northeast and Northwest of Philly like Chestnut Hill, Manayunk, Bustleton and Fox Chase.

How Much Can You Save By Living in Philadelphia?

In the example above, you’re saving close to $35,000 a year if you live in Philadelphia. If you live in a more affordable neighborhood, you can save another $8,000 plus a year. Not to mention more affordable food, parking, and the advantages of having substantially more green space, and less congestion.

The choice of which city to live in also depends to a large extent on your job, however, people do commute from Philadelphia to New York on a daily basis.

Since Covid19, the work-world has changed, as more and more employers are flexible, allow, and in many cases remote work. So if you have one of these flexible employers (and still want easy access to NYC), then renting in Philly might be a no-brainer considering how much more affordable the overall cost of living is.


* indicates required

Don't Forget to Share this post! If you like it!

Fidelity Management – Our content has been featured or mentioned nationally by some of the industry’s best websites including:
ApartmentGuide | | MyFirstAmartment | RENTCafe | The Balance …and many more



Editor’s Picks

Ben Franklin Bridge leading into Philadelphia at sunset


Stay a Smart Renter. Join the Group!

* indicates required

Related Articles

Is Rent Expensive in Philadelphia?

Is Rent Expensive in Philadelphia?

Rent in Philadelphia is surprisingly reasonable compared to other large major metropolitan cities like New York, Boston, Los Angeles, and Washington D.C. In fact, New York City is more than twice as expensive as Philadelphia. Average rent for 1 bedroom in Philadelphia...

read more
1 Share
Skip to main content
Share via
Copy link
Powered by Social Snap