Philadelphia, PA Economy


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Philadelphia, PA is a vibrant city that offers its residents an exciting and enriching lifestyle. It has a diverse population and is home to numerous local companies such as the insurance giant Cigna, Comcast Cable Communications, and the financial services provider FIS Global Solutions. Rent for two bedrooms in Philadelphia is slightly lower than the national average of $1,430 per month. Additionally, the Grocery Cost Index in Philadelphia is 103 versus 100 in the US - meaning that groceries are slightly more expensive here than other areas. Despite this, Philadelphia remains an attractive city for individuals seeking employment opportunities or looking to enjoy the many cultural attractions it has to offer.

Philadelphia has an unemployment rate of 10.6%. The US average is 6.0%.

Philadelphia has seen the job market increase by 1.2% over the last year. Future job growth over the next ten years is predicted to be 28.4%, which is lower than the US average of 33.5%.

Tax Rates for Philadelphia
- The Sales Tax Rate for Philadelphia is 8.0%. The US average is 7.3%.
- The Income Tax Rate for Philadelphia 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
- The average income of a Philadelphia resident is $22,542 a year. The US average is $28,555 a year.
- The Median household income of a Philadelphia resident is $52,649 a year. The US average is $69,021 a year.

Income by Population Percent

  EconomyPhiladelphia, PennsylvaniaUnited States
  10.66
  -7.2%-6.2%
  28.4%33.5%
  8.0%6.2%
  7.0%4.6%
  $32,344$37,638
  $52,649$69,021
  $61,655$85,028
  Population by Occupation
  0.1%1.2%
  0.0%0.5%
  4.0%6.8%
  6.4%10.0%
  2.0%2.5%
  9.3%11.0%
  5.8%4.8%
  0.6%0.8%
  2.0%1.9%
  4.6%4.7%
  1.6%1.9%
  7.8%7.6%
  0.1%0.1%
  4.6%4.2%
  10.7%9.3%
  21.2%14.0%
  2.1%2.1%
  6.4%7.0%
  4.8%4.8%
  5.6%4.7%
Reviews for Philadelphia
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Now the only reason some people disagree is because MONEY. If you live in “manayunk” (which I lived for 2 years) you can’t compare … you can’t compare your out skirt  More

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Over 3 years ago

do not go. do not travel to. Will charge you fees, anything - to pay for the mess that they made. Life long resident, born here as well. I'm Very sorry to say. Go  More

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Over 3 years ago

I'm actually grateful for the bad reviews because I purchased an amazing home here 3 years ago and couldn't be happier! I feel like if everyone was giving it 5 stars the  More

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