Living in Philadelphia, PA on $83,725 Per Year

An income of $83,725 in Philadelphia, PA provides a reasonable quality of life that fairly reflects the city’s cost of living and housing market. Below is an overview of key factors affecting lifestyle for individuals earning this salary compared to the broader United States.

Cost of Living

• General Expenses: Philadelphia's cost of living is slightly above the national average, impacting groceries, entertainment, and transportation.
• Utilities: Utility costs in Philadelphia are moderate; they can be slightly higher due to seasonal variations.
• Public Transportation: SEPTA provides reliable public transit options, which can help offset higher car-related expenses and contribute to reduced living costs.

Housing Market

• Home Prices:
  • Median home prices in Philadelphia are generally lower than the U.S. average, making homeownership more accessible.
  • Renting can be relatively expensive in central areas, but more affordable options exist in outlying neighborhoods.
• Real Estate Trends: The market remains competitive, with potential for property value appreciation over time.

Quality of Life

• Cultural and Recreational Opportunities:

  • Philadelphia offers a rich history, museums, and vibrant arts scene.
  • Ample green spaces and recreational facilities enhance overall quality of life.

• Community Life: Diverse neighborhoods provide a sense of belonging, with various community events and activities.

Access to Healthcare

• Healthcare Facilities:

  • Philadelphia boasts several top-rated hospitals and specialized medical facilities.
  • Access to healthcare is convenient, with numerous clinics and health service providers.

• Health Insurance: Employer-provided insurance or ACA marketplaces offer viable choices to residents.

Quality of K-12 Schools

• Public Education:

  • The quality of public K-12 schools in Philadelphia varies greatly by area.
  • Magnet and charter schools present strong alternatives to traditional public schools.

• Private Schools: Several prestigious private schools offer enhanced educational opportunities, although they come at a higher cost.

Summary

Living in Philadelphia with an annual income of $83,725 provides a comfortable lifestyle, with favorable home prices offsetting a slightly above-average cost of living. Access to cultural amenities, dependable healthcare services, and a strong sense of community contribute positively to the overall quality of life. Although challenges such as varied school quality and certain higher living costs exist, Philadelphia presents a vibrant and diverse environment