Philadelphia, PA
Population 1,582,432 · Pennsylvania
About Philadelphia, PA
Philadelphia is a major city located in Pennsylvania with a population of 1,582,432 residents according to the latest US Census Bureau American Community Survey data. The median household income is $60,698 per year, which is 19% below the national median of $75,149. The median age of 35.1 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Philadelphia features a median home value of $232,400, which is 5% below the national median of $244,900. This positions Philadelphia in a moderately priced market relative to the rest of the country. Median monthly rent is $1,323, 14% above the national average of $1,163/month. Of the 739,725 total housing units, 52% are owner-occupied (350,141 units) and 48% are renter-occupied (319,081 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Philadelphia shows an unemployment rate of 8.4%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 22.0%, above the national average of 12.4%. Workers in Philadelphia have an average one-way commute time of 32 minutes.
Education & Demographics
34.6% of Philadelphia residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 1.4% White, 1.6% Hispanic or Latino, 8.4% Black or African American, and 5.2% Asian residents, with 14.6% of the population being foreign-born.
How Philadelphia Ranks in Pennsylvania
Cost of Living in Philadelphia, PA
Compared to national averages, Philadelphia has a median household income of $60,698 (19% below the national median of $75,149). Home values average $232,400, which is 5% below the national median. Monthly rent at $1,323 is 14% above the US average of $1,163. Within Pennsylvania, Philadelphia's income is 17% below the state average of $73,376, and home values are 22% above the state median of $190,903.
Why Live in Philadelphia, PA?
Philadelphia offers affordable housing with a median home value of $232,400, below the US average of $244,900, and a well-educated community where 34.6% of residents hold a bachelor’s degree or higher.
Potential considerations include median household income ($60,698) that falls below the national average. However, as a major city, Philadelphia provides access to a wide range of amenities and services.
Philadelphia has a population of 1,582,432 with a median age of 35.1 years. Compare Philadelphia with other cities to see how it stacks up, or explore all cities in Pennsylvania.
Similar Cities Near Philadelphia
Cities in Pennsylvania with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Pittsburgh | 303,620 | $64,137 | $193,200 | Compare |
| Allentown | 125,320 | $53,403 | $188,900 | Compare |
| Reading | 94,836 | $45,599 | $109,800 | Compare |
| Erie | 94,156 | $43,397 | $108,200 | Compare |
| Bethlehem | 77,069 | $66,443 | $236,500 | Compare |
| Scranton | 76,074 | $49,531 | $141,700 | Compare |
| Lancaster | 57,683 | $63,421 | $203,700 | Compare |
| Levittown | 50,930 | $101,619 | $311,000 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Pennsylvania
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Philadelphia With Other Cities
Frequently Asked Questions about Philadelphia
What is the population of Philadelphia, PA?
The population of Philadelphia, PA is 1,582,432 according to the latest US Census Bureau American Community Survey estimates. This makes it a major city in Pennsylvania.
What is the median household income in Philadelphia?
The median household income in Philadelphia, PA is $60,698 per year, which is 19% below the national median of $75,149.
What is the median home value in Philadelphia?
The median home value in Philadelphia, PA is $232,400, which is 5% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Philadelphia?
The median monthly rent in Philadelphia, PA is $1,323, which is 14% above the national average of $1,163/month.
What is the unemployment rate in Philadelphia?
The unemployment rate in Philadelphia, PA is 8.4%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Philadelphia, PA a good place to live?
Philadelphia offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 1,582,432 and a median age of 35.1, the city appeals to a broad range of residents.
How educated is Philadelphia, PA?
34.6% of residents in Philadelphia aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Philadelphia?
Key cost-of-living indicators for Philadelphia, PA: median home value is $232,400 (5% below national), median rent is $1,323/month, and median household income is $60,698. The home-value-to-income ratio is 3.8x, a moderate figure by national standards.
What is the poverty rate in Philadelphia?
The poverty rate in Philadelphia, PA is 22.0%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Philadelphia, PA?
Philadelphia's population is 1.4% White, 1.6% Hispanic or Latino, 8.4% Black or African American, 5.2% Asian, and 38.9% two or more races. 14.6% of residents are foreign-born.