Is Philadelphia, PA or New York, NY cheaper to buy a home?

Philadelphia, PA is cheaper to buy in, with a median home price of $374,293 vs $703,126 in New York, NY.

Where is rent cheaper — Philadelphia, PA or New York, NY?

Philadelphia, PA has lower median rent at $1,849/mo/month, compared to $3,232/mo in the other metro.

Which is a better real estate investment — Philadelphia, PA or New York, NY?

Based on rental yield and price forecast, Philadelphia, PA scores higher for investors (5.9% rental yield, +1.7% 12-mo forecast). Philadelphia, PA yields 5.9% vs 5.5% for New York, NY. Always verify with local market conditions before investing.

What is the price-to-rent ratio in Philadelphia, PA vs New York, NY?

Philadelphia, PA has a price-to-rent ratio of 16.9 and New York, NY has 18.1. A ratio below 15 favors buying; above 21 favors renting. Philadelphia, PA is relatively more favorable for buyers.

How have home prices changed in Philadelphia, PA and New York, NY over 5 years?

Over the past 5 years, Philadelphia, PA home values changed +36.0% while New York, NY saw +32.4% appreciation. Philadelphia, PA had stronger long-term price growth.