Philadelphia-Camden-Wilmington, PA Metro Area is an economically diverse area with a wide range of costs of living. Rent for a two bedroom is slightly higher than the national average at $1,470 per month compared to the US average of $1,430. Grocery costs are also slightly higher in this region with a Grocery Cost Index of 106 versus 100 in the US. This metro area has some major companies like Comcast and software giant SAP America who have their headquarters here as well as local favorites such as the iconic cheesesteak chain Geno’s Steaks and Reading Terminal Market which is Philadelphia's premier public market featuring over fifty merchants and restaurants.
Philadelphia-Camden-Wilmington Metro Area has an unemployment rate of 7.3%. The US average is 6.0%.
Philadelphia-Camden-Wilmington Metro Area has seen the job market increase by 0.8% over the last year. Future job growth over the next ten years is predicted to be 29.0%, which is lower than the US average of 33.5%.
Tax Rates for Philadelphia-Camden-Wilmington Metro Area
- The Sales Tax Rate for Philadelphia-Camden-Wilmington Metro Area is 6.1%. The US average is 7.3%.
- The Income Tax Rate for Philadelphia-Camden-Wilmington Metro Area is 7.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Philadelphia-Camden-Wilmington Metro Area
- The average income of a Philadelphia-Camden-Wilmington Metro Area resident is $32,850 a year. The US average is $28,555 a year.
- The Median household income of a Philadelphia-Camden-Wilmington Metro Area resident is $79,070 a year. The US average is $69,021 a year.