2022 Updated Price List on the Cost of Living in Philadelphia

The cost of living in Philadelphia is something that can be tough to negotiate on your own. While the prices of necessities in Philadelphia may not be as high as they are in New York City, they still make up a significant chunk of your spending each month. The good news is there are things to consider before to Philadelphia.

Things to Consider Before Living in Philadelphia

  • High Cost of Living:

While the city has a lower cost of living than some other large cities, it is still more expensive than many smaller cities and towns. Make sure you are prepared for the higher costs before making the move.

  • High Population:

The population of the city is over 1.5 million people. That can make things feel very crowded at times. If you are looking for a more laid-back lifestyle, Philadelphia may not be the right fit for you.

  • Traffic Congestion:

With so many people living in such a small area, the roads can get very congested during peak times. If you are someone who hates being stuck in traffic, you may want to reconsider moving to Philadelphia.

  • Extreme Weather Condition:

The summers are hot and humid, while the winters are cold and snowy. If you are not used to dealing with extreme weather conditions, you may want to think twice about living in Philadelphia.

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Different Costs of Living in Philadelphia

  • Cost of Food

The cost of food in Philadelphia can be expensive, depending on where you shop and what you buy. For example, a trip to the grocery store could cost you anywhere from $50 to $100, depending on how much you need to buy. Eating out at a restaurant can also be costly, with the average meal costing around $30. If you’re on a budget, there are plenty of ways to save money on food in Philadelphia. For example, you could cook at home more often or take advantage of discounts and deals at local restaurants.

  • Cost of Accommodation

The cost of accommodation in Philadelphia is quite reasonable, especially when compared to other large cities in the United States. There are a variety of options available, from apartments and houses to dormitories and hotels. The average cost of rent for a one-bedroom apartment in Philadelphia is $1,200 per month.

his number can vary depending on the specific location, amenities, and size of the apartment. For those looking for a more affordable option, there are many apartments and houses available for rent in the city for less than $1,000 per month. Dormitories and hotels are also available for those who are only looking for temporary accommodation. The average cost of a hotel room in Philadelphia is $120 per night.

  • Cost of Utilities

According to the most recent cost of living report from the Council for Community and Economic Research, utilities in Philadelphia cost an average of $159 per month. This includes electricity, gas, water, and trash service. This is slightly higher than the national average of $147 per month. However, it is important to note that utility costs can vary greatly depending on your specific usage and situation.

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  • Cost of Healthcare

The cost of healthcare in Philadelphia is relatively high when compared to other cities in the United States. However, some factors contribute to this cost. First, the city has a large population and a high density, which means that more people are using medical services. Additionally, the city has several hospitals and medical facilities, which drives up the cost of healthcare.

There are some ways to reduce the cost of healthcare in Philadelphia. One way is to use public transportation to get to medical appointments. This can help to save on gas and parking costs. Additionally, many hospitals and medical facilities offer discounts for cash payments. Finally, it is important to shop around for healthcare services to compare prices and find the best deal.

  • Cost of Insurance

When it comes to the cost of insurance, Philadelphia is a bit on the expensive side. For example, car insurance in the city will cost you an average of $1,200 per year. This is about $200 more than the national average. Home insurance will also cost you more in Philadelphia than in most other parts of the country. The average premium for home insurance in Philadelphia is $1,445 per year. This is about $350 more than the national average.

  • Cost of Transportation

The cost of transportation in Philadelphia is relatively affordable compared to other major cities. Public transportation is operated by the Southeastern Pennsylvania Transportation Authority (SEPTA) and provides service to all major areas of the city and its suburbs. A one-way fare on SEPTA costs $2.50, with discounted rates available for seniors, students, and disabled riders.

If you choose to drive, parking can be a challenge, and costs can vary widely depending on the neighborhood and time of day. Street parking is limited and often requires a permit, while garage parking can range from $50 to $150 per month

  • Cost of Entertainment

Whether you’re into the arts and nightlife, or just enjoy exploring your city, Philadelphia has plenty to offer in terms of entertainment. And best of all, many of these activities won’t cost you an arm and a leg.

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Here are some affordable ways to have fun in Philadelphia:

Visit a museum: Philadelphia is home to world-renowned museums like the Barnes Foundation and the Philadelphia Museum of Art. And while these institutions do charge admission, there are often days or times when admission is free. For example, the first Sunday of every month is “Pay What You Wish” day at the Philadelphia Museum of Art.

Explore a neighborhood: One of the best things about Philadelphia is its diverse neighborhoods. From Chinatown to Fishtown, each area has its unique character. Spend an afternoon walking around and checking out the different shops and restaurants.

Attend a show: Philadelphia has a thriving theater scene, and there are often shows that are free or discounted for students and seniors. Check out resources like PhillyFunGuide.com for listings of current shows and discount codes.

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Conclusion

Overall, the cost of living in Philadelphia is relatively affordable compared to other major cities in the US. With a little bit of planning and budgeting, you can easily find ways to save money and still enjoy all that this vibrant city has to offer.

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