New York vs Philadelphia
Side-by-side rent vs buy analysis comparing these two markets
Overall Comparison
Philadelphia has an edge
Philadelphia shows stronger fundamentals for buying with a 3-year break-even point.
Median Home Price
$760,000
Median Rent
$3,450/mo
Price-to-Rent Ratio
18.4
Property Tax Rate
1.72%
Price Change (1Y)
+3.3%
Price Change (5Y)
+21.0%
Break-Even Years
8 years
10-Year Wealth Difference
+$20,000
Median Home PriceBETTER
$310,000
Median RentBETTER
$1,900/mo
Price-to-Rent RatioBETTER
13.6
Property Tax RateBETTER
1.54%
Price Change (1Y)BETTER
+3.9%
Price Change (5Y)BETTER
+22.0%
Break-Even YearsBETTER
3 years
10-Year Wealth DifferenceBETTER
+$30,000
Key Differences
Home Prices
New York's median home price of $760,000 is higher than Philadelphia's $310,000 by 145%.
Monthly Rent
Renting in New York costs $3,450/mo compared to $1,900/mo in Philadelphia—a difference of $1,550/mo.
Buy vs Rent Verdict
New York favors either option, while Philadelphia favors buying.
Break-Even Timeline
Buying breaks even in 8 years in New York vs 3 years in Philadelphia.
Run Your Own Numbers
This comparison uses median values. Your income, savings, and goals matter. Use our Buy vs Rent calculator to get a personalized analysis.