Quality of Life for a Philadelphia Resident Earning $117,470 Annually

Income Context

• Philadelphia Salary: $117,470 per year
• Median US Household Income: Around $70,000 (2023 data)
• The Philadelphia income under consideration is significantly above the national median, suggesting a comfortable financial standing relative to average American households.

Cost of Living in Philadelphia

• Cost of Living Index: Slightly above the national average.
• Key Expenses:
  • Groceries and utilities align closely with national averages.
  • Transportation costs can be moderately higher due to urban infrastructure and reliance on public transit or commuting costs.

Housing Market

• Median Home Price in Philadelphia: Approximately $250,000 to $300,000.
• National Median Home Price: Around $400,000.
  • Philadelphia's housing market offers relatively affordable options compared to national figures, although prices can vary significantly based on neighborhood.
• Renting: Average rent higher than some parts of the US due to urban demand but still lower than major cities like New York City or San Francisco.

Quality of Life Considerations

• Urban Lifestyle: Vibrant cultural scene with museums, history, and entertainment options.
• Public Transportation: Decent infrastructure but can be improved; offers cost-effective commuting options.
• Green Spaces: Access to parks and recreational areas within and surrounding the city contributes positively.

Healthcare Access

• Availability: Philadelphia hosts numerous hospitals and healthcare facilities, ensuring good access.
• Insurance Costs: Healthcare insurance costs are in line with urban national averages.
• Quality: Benefitting from renowned institutions for specialized treatments.

Education: K-12 Schools

• Public Schools: Offer varied quality; some areas have highly-rated schools, while others lag behind due to disparities in resources.
• Private Schools: Widely available, providing families with alternative educational choices; however, higher tuition fees.
• Overall: Options for quality K-12 education exist but can be dependent on residential location within the city.

Summary of Living Conditions

The annual income of $117,470 in Philadelphia, PA, affords a resident a comfortable lifestyle, given the relative affordability of housing compared to national averages and competitive cost of living. Philadelphia's urban amenities, combined with accessible healthcare and diverse educational opportunities, provide a strong quality of life. Nevertheless, potential homebuyers