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Home Affordability Calculator Philadelphia, PA — 2026
Median home price in Philadelphia: $250,000. At 6.5% on a 30-year loan with 20% down, the estimated total monthly payment (PITI) is $1,633 — requiring $69,986/year in gross income. Enter your income below for a personalised estimate.
Reviewed for accuracy June 2026 by Gary Sing
Median home price
$250,000
Income needed (annual)
$69,986
Est. monthly PITI
$1,633
Property tax/month
$275
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How much house can you afford in Philadelphia at your salary?
Maximum home price at each income level: 6.5% rate, 30-year term, 20% down payment, no existing debt. Property tax (1.32%) and insurance (0.45%) included in the 28% front-end DTI budget.
| Annual income | Max home price | Max monthly budget | Affords Philadelphia median? |
|---|---|---|---|
| $50,000 | $178,613 | $1,167/mo | ✗ No |
| $75,000 | $267,920 | $1,750/mo | ✓ Yes |
| $100,000 | $357,227 | $2,333/mo | ✓ Yes |
| $125,000 | $446,533 | $2,917/mo | ✓ Yes |
| $150,000 | $535,840 | $3,500/mo | ✓ Yes |
| $175,000 | $625,147 | $4,083/mo | ✓ Yes |
| $200,000 | $714,453 | $4,667/mo | ✓ Yes |
Assumes 20% down, 6.5% rate, 30-year term, zero existing monthly debt. Property tax at 1.32% effective rate; insurance estimated at 0.45% annually. PMI required below 20% down — not included here.
Monthly payment breakdown on the median Philadelphia home
$250,000 purchase price with 20% down ($50,000) at 6.5% on a 30-year loan.
Principal & interest (30yr)
$1,264/month on a $200,000 loan at 6.5% over 30 years. Total interest paid over the life of the loan: $255,040.
Property tax (1.32% effective rate)
$275/month ($3,300/year). Pennsylvania's effective property tax rate of approximately 1.32% is above the national average and varies significantly by school district — the school district component is the largest driver of local rate differences. Always verify the specific municipality rate for any property you are evaluating in the Philadelphia area.
Homeowners insurance (est.)
$94/month estimated at 0.45% of home value annually. Rates vary significantly by coverage level, age of home, and local risk factors — always get quotes before closing.
Total PITI (monthly)
$1,633/month estimated. Income needed to keep this under 28% of gross monthly income: $69,986/year.
Philadelphia housing market 2026
Philadelphia is one of the most affordable large US cities to buy in, with median prices well below comparable East Coast metros. The city offers diverse neighborhoods from premium Rittenhouse Square and Society Hill to accessible Northeast and Southwest Philadelphia. SEPTA rail access extends the practical market into Delaware, Montgomery, Bucks, and Chester counties at varying price points.
Key numbers for Philadelphia buyers
- Median home price: $250,000 (2026 estimate)
- 20% down payment: $50,000
- Loan amount (80% LTV): $200,000
- Monthly P&I at 6.5% / 30yr: $1,264
- Monthly P&I at 6.5% / 15yr: $1,742
- Est. PITI (P&I + tax + insurance): $1,633/month
- Income needed (28% front-end DTI): $69,986/year
Compare home affordability by city
📍 Los Angeles, CA
Median $900,000 · income needed $244,543/yr · 1.09% tax
📍 Chicago, IL
Median $330,000 · income needed $101,614/yr · 2.1% tax
📍 Houston, TX
Median $290,000 · income needed $89,143/yr · 2.09% tax
📍 Phoenix, AZ
Median $400,000 · income needed $102,429/yr · 0.65% tax
📍 Miami, FL
Median $580,000 · income needed $155,143/yr · 0.97% tax
📍 Seattle, WA
Median $740,000 · income needed $195,257/yr · 0.87% tax
📍 Denver, CO
Median $560,000 · income needed $141,171/yr · 0.54% tax
📍 Austin, TX
Median $525,000 · income needed $161,614/yr · 2.1% tax
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Home affordability Philadelphia — frequently asked questions
How much house can I afford in Philadelphia?
On a $100,000 annual income with no other debt, 20% down, and a 6.5% 30-year mortgage, you can afford approximately $357,227 in Philadelphia. The median home price in Philadelphia is $250,000, which requires approximately $69,986/year in gross income using the 28% front-end DTI rule (principal, interest, property tax, and insurance all within 28% of gross monthly income).
What income do I need to buy a home in Philadelphia?
To afford Philadelphia's median home price of $250,000 at 6.5% on a 30-year loan with 20% down, you need approximately $69,986/year in gross income. This assumes the full PITI payment of $1,633/month (P&I $1,264 + property tax $275 + insurance $94) stays within 28% of gross monthly income. Existing debts reduce this buying power further.
What is the median home price in Philadelphia in 2026?
The estimated median home price in Philadelphia in 2026 is approximately $250,000. This varies significantly by neighbourhood — enter the specific purchase price you are evaluating in the calculator above for a personalised estimate.
What are property taxes in Philadelphia?
Philadelphia, PA's effective property tax rate is approximately 1.32%. On a $250,000 home, that is roughly $275/month or $3,300/year in property taxes. Pennsylvania's effective property tax rate of approximately 1.32% is above the national average and varies significantly by school district — the school district component is the largest driver of local rate differences. Always verify the specific municipality rate for any property you are evaluating in the Philadelphia area.
Is Philadelphia affordable to buy in 2026?
Philadelphia's median home price of $250,000 requires an annual gross income of approximately $69,986 to qualify under the 28% front-end DTI rule at 6.5% with 20% down. The estimated total monthly payment (PITI) is $1,633/month. Philadelphia is one of the most affordable large US cities to buy in, with median prices well below comparable East Coast metros.