For most New Yorkers, the Philadelphia suburbs cost less in two big ways: housing and income taxes. A home costs roughly half as much, often in a highly ranked school district, and a household that lives and works in Pennsylvania pays a much lower income tax. Other costs, from groceries to a car you may now need, narrow the gap but do not close it.
This guide compares the costs that matter most, with the most recent numbers available.
The big picture
The Bureau of Economic Analysis measures how prices in each metro area compare with the national average. In 2024, the most recent year:
| New York metro | Philadelphia metro | |
|---|---|---|
| All prices | 12.6% above average | 2.6% above average |
| Housing (rents) | 48.6% above average | 13.1% above average |
Housing is where the difference lives. Everyday costs are closer than many New Yorkers expect.
Home values
| Area | Typical home value (Zillow, Sept 2026) |
|---|---|
| Manhattan | About $1.25 million |
| Brooklyn | About $963,000 |
| Queens | About $745,000 |
| Chester County, PA | About $579,000 |
| Bucks County, PA | About $524,000 |
| Montgomery County, PA | About $493,000 |
| Delaware County, PA | About $363,000 |
New York’s figures are mostly condos and co-ops, while the suburbs’ are mostly single-family houses. Comparing neighborhoods New Yorkers actually weigh against each other makes the trade clearer:
| In New York | Typical condo value | In the Philadelphia suburbs | Typical single-family value |
|---|---|---|---|
| Park Slope (11215) | About $1.32 million | Narberth (19072) | About $1.02 million |
| Upper West Side (10023) | About $1.43 million | Bryn Mawr (19010) | About $1.05 million |
| Brooklyn Heights (11201) | About $1.31 million | Wayne (19087) | About $921,000 |
| Forest Hills (11375) | About $405,000 | Glenside (19038) | About $474,000 |
In other words, the price of a typical condo in brownstone Brooklyn or on the Upper West Side buys a single-family house in a walkable Main Line town with a train station and a top-ranked school district.
Rent against a mortgage
Zillow’s typical asking rent in September 2026 was about $4,779 a month in Manhattan and $3,858 in Brooklyn.
For comparison, a $700,000 house, close to the typical single-family value in Blue Bell or Ambler, bought with 20 percent down at Freddie Mac’s average 30-year rate of 7.18 percent (November 5, 2026), carries a principal and interest payment of about $3,794 a month. Property taxes and insurance come on top; the median property tax paid in Montgomery County is about $5,875 a year, or about $490 a month. You also need the down payment, $140,000 in this example, and closing costs.
So a monthly housing cost near a Manhattan rent buys a house you own. The affordability guide shows how lenders size the loan.
Income taxes
| Tax | New York City resident | Philadelphia suburbs resident |
|---|---|---|
| State income tax (2026) | 3.9% to 10.9%; 5.9% for a single filer earning about $80,650 to $215,400 | Flat 3.07% |
| City or local income tax | 3.078% to 3.876% | 0% in Lower Merion and Radnor; often 1% elsewhere |
| If you work in Philadelphia | Not applicable | City wage tax of 3.425% for nonresidents, from July 1, 2026 |
The savings depend on where you work. If you live and work in Pennsylvania, you pay Pennsylvania’s rates. If you keep a New York job, New York State still taxes wages for work done there, and Pennsylvania credits that tax, so your total stays closer to New York State’s rate. New York City’s tax ends either way. The guide to living in Pennsylvania or New Jersey and working in New York walks through it.
Property taxes
Suburban homeowners pay property taxes to the county, the township, and the school district. The median paid in 2020 to 2024, according to the Census Bureau:
- Montgomery County: about $5,875
- Delaware County: about $6,124
- Chester County: about $6,308
- Bucks County: about $5,826
Bills vary widely from house to house because assessments differ: Delaware County reassessed for 2021, while Montgomery and Chester Counties still assess on older base years. Always ask for the actual tax bill.
Transfer taxes when you sell and buy
| Who usually pays | Rate | |
|---|---|---|
| NYC transfer tax (selling) | Seller | 1%, or 1.425% above $500,000 |
| New York State transfer tax (selling) | Seller | 0.4%, or 0.65% on NYC homes of $3 million or more |
| New York mansion tax (buying) | Buyer | 1% at $1 million or more |
| Pennsylvania realty transfer tax (buying) | Split by custom | Usually 2%; 2.5% in Radnor |
The cost to buy a home in Pennsylvania covers the other closing costs.
Costs that go up
- A car. Even the walkable suburbs need one for some errands, and many households need two.
- Upkeep. A house brings a roof, a furnace, and a yard, where a condo’s maintenance came through a monthly fee.
- New York trips. If you still go in, budget for the train. The commute guide lists fares.
Working with Karen
Karen Langsfeld is a REALTOR® with Berkshire Hathaway HomeServices Fox & Roach, licensed in Pennsylvania and New Jersey. She helps New York buyers compare towns by real costs, including the actual tax bill on each home, and coordinates the purchase with the sale of a New York home. Learn more about moving from New York, or start with the guide to moving from NYC to the Philadelphia suburbs.
Contact Karen at (215) 495-2914 or through the contact page.
Sources: U.S. Bureau of Economic Analysis, Regional Price Parities 2024 (released February 2026); Zillow Home Value Index and Observed Rent Index, September 2026; Freddie Mac Primary Mortgage Market Survey, November 5, 2026; New York State Department of Taxation and Finance, 2026 withholding tables; Pennsylvania Department of Revenue; Pennsylvania DCED local tax register (June 2026); City of Philadelphia; U.S. Census Bureau, American Community Survey 2020-2024; NYC Department of Finance; Delaware County Recorder of Deeds. This guide is general information, not tax or legal advice.