Salary & Cost of Living in Philadelphia, PA
Philadelphia, PA: $60,000 median salary, cost of living index 102, $7.25/hr minimum wage. Calculate your take-home pay with our free paycheck calculator.
Median Salary
$60,000
$29/hr
Cost of Living
102
US avg = 100
Minimum Wage
$7.25
per hour
Unemployment
4.5%
rate
Philadelphia, PA Overview
Population
1,603,797
Median Salary
$60,000
Average Salary
$67,500
Avg Commute
33 min
Median Home Price
$230,000
Median Rent
$1,400/mo
Job Growth
+1.5%
Sales Tax
8%
Philadelphia is located in Pennsylvania with a population of 1,603,797. The median household salary is $60,000 per year ($29/hour), which is $616 above the national median of $59,384. The average commute time is 33 minutes, and the city has a job growth rate of +1.5%.
Philadelphia Paycheck Calculator
Enter your annual salary to see your estimated take-home pay in Philadelphia, PA, after federal, state, and local taxes.
Estimated Annual Take-Home Pay
$46,133
$3,844.38/month · $1,774.33/biweekly · Effective Rate: 23.1%
Gross Pay
$60,000
Federal Tax
-$5,162
State Tax
-$1,842
Local Tax
-$2,274
FICA
-$4,590
Net Pay
$46,133
Pay Breakdown
| Item | Monthly | Annual |
|---|---|---|
| Gross Salary | $5,000.00 | $60,000.00 |
| Federal Income Tax | -$430.13 | -$5,161.50 |
| Pennsylvania State Tax (3.07%) | -$153.50 | -$1,842.00 |
| Local Tax (3.79%) | -$189.50 | -$2,274.00 |
| Social Security (6.2%) | -$310.00 | -$3,720.00 |
| Medicare (1.45%) | -$72.50 | -$870.00 |
| Net Take-Home Pay | $3,844.38 | $46,132.50 |
Salary Comparison: Philadelphia vs Other Cities
See how Philadelphia's median salary and cost of living compare to the national average and similar cities.
| City | Median Salary | COL Index | Adj. Salary |
|---|---|---|---|
| Philadelphia, PA | $60,000 | 102 | $58,824 |
| National Average | $59,384 | 100 | $59,384 |
| Tampa, FL | $60,000 | 102 | $58,824 |
| Idaho Falls, ID | $60,000 | 93 | $64,516 |
| Joliet, IL | $60,000 | 90 | $66,667 |
| Kansas City, MO | $60,000 | 90 | $66,667 |
Adjusted salary reflects purchasing power when cost of living is factored in. A higher adjusted salary means your money goes further.
Cost of Living in Philadelphia
Philadelphia's cost of living index is 102 (national average = 100). Living in Philadelphia is 2% more expensive than the national average.
Median Home Price
$230,000
Median Monthly Rent
$1,400
Annual Rent Cost
$16,800
Your Salary's Purchasing Power
Your $46,133 annual take-home pay in Philadelphia has the purchasing power of approximately $45,228 in an average-cost US area. You would need to earn $61,200 in Philadelphia to match a $60,000 salary in an average-cost city.
Top Industries in Philadelphia
Philadelphia's economy is driven by these key industries. Workers in top industries often earn significantly above the median salary of $60,000.
Salary Tips for Philadelphia Workers
- Research top industries. Philadelphia's top industries include Healthcare, Education, Finance. Targeting roles in these sectors can help you earn above the $60,000 median salary.
- Review your W-4 withholding. If you regularly receive large tax refunds, adjust your W-4 to increase your per-paycheck take-home pay instead of giving the government an interest-free loan.
Explore Salaries Across the US
Compare salary data and cost of living for hundreds of US cities. Find out where your paycheck goes the furthest.
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Frequently Asked Questions
What is the median salary in Philadelphia, PA?
The median salary in Philadelphia, PA is $60,000 per year, or $29 per hour. The average salary is $67,500. This is $616 above the national median of $59,384.
What is the cost of living in Philadelphia, PA?
Philadelphia's cost of living index is 102 (national average = 100), meaning it is 2% more expensive compared to the national average. The median home price is $230,000 and the median monthly rent is $1,400.
What are the best industries in Philadelphia?
The top industries in Philadelphia, PA include Healthcare, Education, Finance. The city has a job growth rate of 1.5% and an unemployment rate of 4.5%. Workers in these industries often earn above the city's median salary of $60,000.
How does Philadelphia's salary compare to other cities?
Philadelphia's median salary of $60,000 is 1.0% above the national median of $59,384. However, when adjusted for cost of living (index: 102), the real purchasing power is approximately $58,824.
What is the minimum wage in Philadelphia, PA?
The minimum wage in Philadelphia, PA is $7.25 per hour. This equals approximately $15,080 per year for a full-time worker (40 hours/week). This matches the federal minimum wage of $7.25/hour.