Question: What Salary Do You Need To Live In Philadelphia?

What is a good salary in Philadelphia?

If you follow the 50-30-20 budgeting rule to the T, listen closely: You need to earn just under $60,000 a year to live comfortably in Philadelphia.

That’s according to a new analysis by Go Banking Rate, which found that you need to make exactly $59,384 to be able to live in Philadelphia..

How much do you need to make to live comfortably in PA?

Living Wage Calculation for Allegheny County, Pennsylvania1 ADULT2 ADULTS (BOTH WORKING)0 Children3 ChildrenLiving Wage$11.18$19.05Poverty Wage$6.00$7.25Minimum Wage$7.25$7.25

What is the average income in Philadelphia?

TablePopulationMean travel time to work (minutes), workers age 16 years+, 2015-201933.6Income & PovertyMedian household income (in 2019 dollars), 2015-2019$45,927Per capita income in past 12 months (in 2019 dollars), 2015-2019$27,92454 more rows

Is 100k a good salary in Philadelphia?

If you earn a $100,000 salary, then you’re well ahead of the median worker in the U.S. And if you live in Greater Philadelphia, that money goes a long way – longer than any of our eastern U.S. rivals. … Philadelphia ranks in the top 15, according to the report.

What is middle class income in Pennsylvania?

Range of household incomes needed to be considered middle class, by family sizeStateSingleCouplePennsylvania$25,676 – $77,028$36,311 – $108,934Rhode Island$25,989 – $77,967$36,754 – $110,262South Carolina$23,562 – $70,687$33,322 – $99,966South Dakota$23,040 – $69,121$32,584 – $97,75248 more rows•Dec 12, 2020

What is the cheapest place to live in Pennsylvania?

The 5 Most Affordable Places to Live In PennsylvaniaWest Mifflin. This Pittsburgh suburb of just over 20,000 is arguably the most affordable place to live in the state of Pennsylvania. … Oil City. As you might imagine from the name, Oil City was founded as an oil boomtown. … Brentwood. This town of just over 9,500 is a handful of miles southeast of Pittsburgh. … Pottsville.

What is considered low income in Pennsylvania?

2020 POVERTY INCOME GUIDELINES CONTIGUOUS STATES U.S. GRANTEES EFFECTIVE January 15, 2020House Hold/Family Size100%150%1$12,760$19,1402$17,240$25,8603$21,720$32,5804$26,200$39,3005 more rows

What is a livable salary in PA?

Living Wage Calculation for Pennsylvania1 ADULT2 ADULTS (BOTH WORKING)0 Children0 ChildrenLiving Wage$11.53$9.30Poverty Wage$6.00$4.06Minimum Wage$7.25$7.25

Why is Philadelphia so poor?

The more families headed by a single mother, the higher the poverty rate. … Philadelphia is different from most other places in that most of its poor live within the city limits. It is much more expensive to live in the suburbs than in many of the city’s neighborhoods.

Should I buy a house in Philadelphia?

Philly presents affordable living, and buying there is a good investment, too. With an appreciation rate of 141.16% from 2000 to 2018, Philadelphia homes offer a great return on your money. … The Philadelphia Real Estate Tax should also be taken into account — be sure to factor taxes into your overall budget, too.

Is Philadelphia expensive to live in?

As far as cost of living goes, Philadelphia isn’t as expensive as bigger cities like New York or San Francisco. There are also relative bargains to be had in the housing market for both renters and home buyers. You’ll also enjoy the low income taxes of the state of Pennsylvania.

Why is Philadelphia so cheap?

The other reason housing is so “affordable” is because of basic economics. The demand isn’t really there, and that’s because compared to San Fransisco or Boston, the city is seriously lagging in job growth or market diversity. Around here, it’s all about eds and meds.

What is considered low income in Philadelphia?

The Joint Center for Housing Studies report defines extremely low-income renters as those making less than 30 percent of the area median income, which is about $26,000 a year in Philadelphia, slightly above the federal poverty line (which is just under $20,000 a year for a family of four).

What are the bad areas in Philadelphia?

What Are The “Bad” Areas Of Philadelphia#1 Fairhill. With a population of just over 17 thousand, Fairhill is known as “El Centro de Oro” or “Center of God” and is located in the Northeast section of Philadelphia. … #2 North Philadelphia/East. … #3 Alleghany West. … #4 Parkland. … #5 Hunting Park. … #6 Tioga-Nicetown. … #7 Mantua.

Is Philadelphia a black city?

Non-Hispanic Black people make up 42% of Philadelphia’s population, and 44% when including Hispanic Black people. The native Black population represents the vast majority of Black Americans in the city and about 39% of the citywide population.