Living Wage Calculation for Philadelphia County, Pennsylvania
| 1 ADULT | 2 ADULTS (1 WORKING) | |
|---|---|---|
| 0 Children | 2 Children | |
| Living Wage | $17.87 | $38.08 |
| Poverty Wage | $6.19 | $12.74 |
| Minimum Wage | $7.25 | $7.25 |
What salary do I need to live comfortably in Philadelphia?
What is a good salary in Philadelphia? The recommended salary in Philadelphia is $3,696 per month or $44,355 annually. This total reflects a salary that would allow a renter to live comfortably and afford to cover the median rent for a one-bedroom apartment which sits at $1,110.
What salary do you need to live comfortably in PA?
Typical Expenses
| 1 ADULT | 2 ADULTS (1 WORKING) | |
|---|---|---|
| 0 Children | 1 Child | |
| Required annual income after taxes | $28,778 | $52,850 |
| Annual taxes | $5,903 | $10,840 |
| Required annual income before taxes | $34,680 | $63,690 |
Is 100k a good salary in Philadelphia?
Philadelphia scores much better than its eastern U.S. rivals – Boston, New York, Washington, Atlanta and Baltimore. If you earn a $100,000 salary, then you’re well ahead of the median worker in the U.S. And if you live in Greater Philadelphia, that money goes a long way – longer than any of our eastern U.S. rivals.
What is a high salary in Philadelphia?
As of Nov 5, 2022, the average annual pay for the Highest jobs category in Philadelphia is $102,678 a year.
What is middle class income in Philadelphia?
For the purposes of this report, adult Philadelphians are considered middle class if they are part of a household with an income between 67 and 200 percent of regional median household income. Since the median income was $61,579 in 2010, the range for that year was $41,258 to $123,157.
What salary is considered middle class in PA?
Range of household incomes needed to be considered middle class, by family size
| State | Single | Family of four |
|---|---|---|
| Pennsylvania | $25,676 – $77,028 | $51,352 – $154,055 |
| Rhode Island | $25,989 – $77,967 | $51,978 – $155,934 |
| South Carolina | $23,562 – $70,687 | $47,125 – $141,374 |
| South Dakota | $23,040 – $69,121 | $46,081 – $138,243 |
What is considered poor in PA?
In 2018, the federal poverty income threshold was $25,465 for a family of four with two children, and $17,308 for a single parent of one child. If a family’s total income is less than the corresponding threshold, then that family and every individual in it is considered in poverty.
What is the cost of living in Philadelphia 2022?
The cost of living in Philadelphia, PA is 10% higher than the state average and 10% higher than the national average. Philadelphia, PA housing is 10% more expensive than the U.S average, while utilities are about 12% pricier.
What is the cost of living in PA for 2022?
Average Cost of Living in Pennsylvania: $44,650 per year.
Is 100k considered upper middle class?
The bottom line is: $100,000 is on the middle-class spectrum, but barely: 75 percent of U.S. households make less than that. Others prefer to define middle class by the lifestyle you can afford.
How much is wealthy in Philadelphia?
The Center Square
| State | City | Combined Net Worth of Billionaires in City |
|---|---|---|
| Pennsylvania | Philadelphia | $10.6 billion |
| Rhode Island | Providence | $2 billion |
| South Carolina | Charleston | $1.9 billion |
| South Dakota | Sioux Falls | $1.6 billion |
What is considered low income in Philadelphia?
How much do you need to make to qualify? Low income means you make 50% of Philly’s median income or less. Moderate income means you make 80% of Philly’s median income or less.
What job pays the most in PA?
Highest paying jobs in Pennsylvania
- Anesthesiologist. National average salary: $456,833 per year.
- Cardiology physician. National average salary: $323,801 per year.
- Gastroenterologist. National average salary: $272,558 per year.
- Surgeons.
- Periodontist.
- Physicians.
- Psychiatrist.
- Pediatric hospitalist.
What is the average household income in Philadelphia?
$49,127
Table
| Population | |
|---|---|
| Mean travel time to work (minutes), workers age 16 years+, 2016-2020 | 33.4 |
| Income & Poverty | |
| Median household income (in 2020 dollars), 2016-2020 | $49,127 |
| Per capita income in past 12 months (in 2020 dollars), 2016-2020 | $29,644 |
Is Philadelphia high cost of living?
Philadelphia, Pennsylvania’s cost of living is 10% higher than the national average. The cost of living in any area can vary based on factors such as your career, its average salary and the real estate market of that area.
Is Philadelphia a low income city?
Yes, but: Philly’s poverty rate, at 23.1%, is double the U.S average. Meanwhile, Philly’s median income, $49,127, is only about three-quarters of the national average.
What is considered upper class in PA?
Pew defines the upper class as adults whose annual household income is more than double the national median. In 2022, the national median household income is around $75,000, up from $68,000 in 2021.
What salary is upper class?
Based on Pew’s analysis, a household of three would need an income of $156,600 to meet the definition of upper class, which it defines as household incomes more than double the national median.
What is considered high income 2022?
For high earners, a three-person family needed an income between $106,827 and $373,894 to be considered upper-middle class, Rose says. Those who earn more than $373,894 are rich.
How much does top 1% make in us?
$597,815
According to a recent study by personal finance website SmartAsset, an American family needed to earn $597,815 in 2021 to be in the top 1% nationally.