Monthly rent
$424 reported gap
Exceeds combined MOESum of reported MOEs: $21.
City housing comparison
New York vs Philadelphia: Housing Costs Compared
Compare New York, NY and Philadelphia, PA using 2020-2024 ACS 5-Year housing and income estimates.
Quick answer
Philadelphia has lower reported median rent
Median gross rent is $424 lower per month in Philadelphia. The income associated with a 30% rent target is $16,900 lower per year there.
This is a housing baseline, not an overall winner or a complete cost-of-living comparison.
Evidence, before conclusions
How much does the gap tell us?
Point estimates show the reported difference. Margins of error help put it in context.
Annual household income
$18,530 reported gap
Exceeds combined MOESum of reported MOEs: $1,520.
Home value
$534,500 reported gap
Exceeds combined MOESum of reported MOEs: $7,530.
This is a conservative screen using the sum of two 90% MOEs, not a formal significance test. An inconclusive result does not mean the cities are equal. Read the comparison rule ↗
Side-by-side data
Housing and income benchmarks
| Metric | New York | Philadelphia |
|---|---|---|
| Median gross rent | $1,821/mo±$7 MOE | $1,397/mo±$14 MOE |
| Income for 30% rent target | $72,800±$300 derived MOE | $55,900±$600 derived MOE |
| Median household income | $80,483±$601 MOE | $61,953±$919 MOE |
| Median home value | $777,600±$4,889 MOE | $243,100±$2,641 MOE |
| Home value-to-income | 9.7x | 3.9x |
| Owner-occupied homes | 33% | 52% |
Decision signals
What the differences mean
01
Renting baseline
Philadelphia has $424 lower reported monthly median gross rent. Keeping that rent near 30% of gross income corresponds to $16,900 less annual household income than in New York.
02
Household income context
New York reports $18,530 higher median household income. Citywide medians do not show an individual household's job offer, debt or family size.
03
Buying pressure
Philadelphia reports a $534,500 lower median home value. Philadelphia has the lower home value-to-income baseline by 5.7x. This does not include mortgage rates, taxes, insurance, maintenance or down payment requirements.
04
Ownership mix
Philadelphia has an owner-occupied share 19.0 percentage points higher. Ownership share describes occupied housing, not homes currently available for sale.
City guide
New York, NY
Review state rankings, annual rent and the personal income calculator.
Open New York guideCity guide
Philadelphia, PA
Review state rankings, annual rent and the personal income calculator.
Open Philadelphia guideCity comparison tool
Two cities.
One clear comparison.
The same 2020-2024 ACS 5-Year source, definitions and calculations.
Comparison questions
Which city has lower median rent?
Philadelphia has lower reported median gross rent by $424 per month in the 2020-2024 ACS 5-Year estimates.
Which city needs less income for the 30% rent benchmark?
Philadelphia has the lower reported annual income target by $16,900.
Does this compare total cost of living?
No. It compares housing, household income and ownership measures. Food, transportation, taxes, health care and live listings are outside the current scope.
Good research deserves a source.
MoveCostCompare. “New York, New York vs Philadelphia, Pennsylvania: housing costs.” U.S. Census Bureau, 2020-2024 ACS 5-Year Estimates. Reported monthly median gross rent: New York $1,821 (90% MOE ±$7); Philadelphia $1,397 (90% MOE ±$14). https://movecostcompare.com/compare/new-york-vs-philadelphia. Survey estimates, not live asking rents.
Source: U.S. Census Bureau, 2020-2024 ACS 5-Year Estimates. Latest release checked Oct 01, 2026 at 03:00 UTC. Review the definitions and methodology.