Salary Needed to Live in Philadelphia as a Retiree
A retired individual (65+) needs approximately $22,424/year to live comfortably in Philadelphia, PA — including 5% savings.
Comfortable Salary
$22,424
with 5% savings
Bare Minimum
$20,867
no savings buffer
Monthly Expenses
$1,252
2% above national avg
Detailed Monthly Budget for a Retiree in Philadelphia
| Expense | Philadelphia | Nat'l Avg | Diff |
|---|---|---|---|
| 🏠 1-2BR Senior-Friendly Rent | $146 | $121 | +21% |
| 🛒 Groceries | $21 | $16 | +31% |
| ⚡ Utilities | $11 | $15 | -27% |
| 🚗 Transportation | $15 | $18 | -17% |
| 🛡️ Car Insurance | $212 | $229 | -7% |
| 🏥 Health Insurance | $62 | $58 | +7% |
| Medicare Supplement | $204 | $200 | +2% |
| Prescription Drugs | $153 | $150 | +2% |
| Internet + Phone | $122 | $120 | +2% |
| Recreation & Social | $204 | $200 | +2% |
| Home Maintenance | $102 | $100 | +2% |
| Total Monthly | $1,252 | $1,227 | +2% |
How We Calculated the Salary
Monthly expenses:$1,252
Target savings (5%):$71/mo
Monthly after-tax needed:$1,323
Effective tax rate:28%
Gross annual salary needed:$22,424
Other Household Types in Philadelphia
Related Pages
FAQ
What salary does a retiree need in Philadelphia?
A retiree needs approximately $22,424/year ($1,869/month gross) to live comfortably in Philadelphia with a 5% savings rate.
How much is rent for a retiree in Philadelphia?
A 1-2br senior-friendly in Philadelphia costs approximately $146/month, which is the largest single expense at 12% of the total budget.
Is Philadelphia affordable for a retiree?
Philadelphia is roughly average for retiree costs, requiring a salary close to the national median.