The Northeast Megalopolis is one of the most urbanized parts of the United States and accounts for around 17% of the nation’s total population. It’s ironic to think about crunching the sheer vastness of these numbers, however, when they ultimately boil down to five cities and 2% of the country’s land, in DC, Boston, New York, Baltimore, and of course, Philadelphia.
Each of these cities has a unique history, culture, upsides, downsides, and iconic staples which give them character. Given its status as America’s most important and densely populated city, many buyers and renters aspire to make the Big Apple their home (if they can afford it).
While New York has the bright lights and a larger than life feel, let’s halt the hype for a second and give some love to the City Of Brotherly Love.
Often overlooked in the landscape of the Northeast, Philadelphia is an exciting, affordable, historic, and hip city that has seen exponential growth in recent years.
We’re not forcing you to come here, but before you put down that initial payment on your next house or apartment lease, here are a few factors to consider.
Cost Of Living
New York and Philly both offer plenty of destinations, sightseeing opportunities, and cuisine that everyone should experience.
That being said, NYC carries one major drawback: cost of living. According to a Kiplinger survey, the Big Apple will cost Americans 138.6% more than their average cost of living, a figure which can be astronomical for the average working/middle-class person who wants to live on a comfortable budget.
Estimates vary based on market trends or the specific neighborhood you’re looking to rent from, but figures put Philly’s average monthly rent around just over $1,500 for a single bedroom near Center City. This is nearly three times cheaper than a $3,757 single in Manhattan.
Numbeo has a comprehensive cost of living chart comparing the two cities. Philadelphia consumer prices are 17% less expensive than New York, restaurant prices are 25% cheaper, monthly gym fees are 63% cheaper, and average rent is an astounding 52% cheaper than in New York.
New York is one of the world’s predominant media capitals and carries on an undeniably storied legacy as a hub for history, entertainment, culture.
However, it might be a little costly if you’re looking to experience those attractions beyond the occasional day trip.
As the nation’s original capital and the birthplace of America, Philly is an incredible hub for history, sightseeing, die-hard sports culture, entertainment, museums, diverse culinary selections, and annual events 365 days a year.
In a survey examining the twenty qualities that millennials find most appealing in a city (such as affordability, a good job market, a good transit system, or LGBTQ inclusivity to name a few), Philadelphia lead with a strong 95% of those qualities.
Philadelphia scored far better than most cities, edging New York in cheaper rent costs, and only lacking a highly rated public school system.
What New York has in bagels, cheesecake, and thin crust pizza, Philly has in cheesesteaks, water ice, soft pretzels, Tastykakes, hoagies, Peanut Chews, and crab fries.
On top of the local fare, Philly is becoming an epicenter of a diverse, thriving, and incredible multicultural food community with authentic eats and tastes from around the globe.
If we haven’t convinced you yet, Duane Reade doesn’t hold a candle to the convenience store empire that is Wawa and their annual HoagieFest.
If you’re interested in moving to Philadelphia or have any questions about our city, hit us up and we’d be happy to give you some advice on finding your next home!