Mortgage payment estimates, closing cost breakdowns, and homebuying data for Philadelphia, Pennsylvania.
Pre-filled with Philadelphia median home price and Pennsylvania tax/insurance rates. Adjust for your property.
Estimated closing costs based on Pennsylvania rates and fees applied to Philadelphia prices.
The median home price in Philadelphia is $265,000, 5% below the Pennsylvania state median of $280,000. With a population of 1,603,797, Philadelphia is a major metro area where home prices tend to be more accessible than in many parts of Pennsylvania.
Property taxes in Pennsylvania average 1.36% annually. This moderate property tax rate means a $265,000 home in Philadelphia would carry roughly $300/month in property taxes. Homeowners insurance in Pennsylvania runs approximately $1,400 per year. This is within the normal range nationally.
Average rent in Philadelphia is $1,550/month. With a price-to-rent ratio under 15, buying may be more cost-effective than renting in Philadelphia over the long term.
Philadelphia presents moderate affordability. The $265K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.