26 Ways Philadelphia Homeowners Can Save Money in 2026

Jim Armstrong Market Education January 9, 2026January 19, 2026checklists, home affordability, homestead exemption philadelphia

With costs rising and budgets feeling tighter, many homeowners are looking for ways to save money in 2026—without making drastic changes or sacrificing quality of life.

The good news? Saving money as a homeowner is about stacking small, smart decisions involving:

Tax and insurance reviews most people overlook
Mortgage strategies that can lower monthly payments
Simple energy and utility savings
Maintenance habits that prevent expensive repairs

Here are 26 practical ways Philadelphia homeowners can reduce costs this year, organized into four categories:

Housing & Taxes

1. File for the Homestead Exemption (if you haven’t).
This can significantly reduce your taxable assessed value. Learn more here >

2. Appeal your property tax assessment if it feels high.
Many homeowners never challenge assessments—even when they’re inaccurate.

3. Track when your tax abatement ends and plan ahead.
Knowing when costs increase helps avoid budget shock.

How to Reduce Property Taxes in Philadelphia

Jim Armstrong Market Education September 30, 2021January 5, 2026homestead exemption philadelphia, Philadelphia real estate, property taxes

If you don’t have a residential tax abatement on the primary residence you own, the Homestead Exemption can reduce the taxable portion of your assessed value by $100,000. With this program, Philadelphians can save around $1400 on their annual tax bill, and once accepted, you don’t have to reapply each year. You will receive the benefit as long as you continue to own and live in the property.

Those with a current residential tax abatement are not eligible, but you can apply after the abatement is expired or removed. If you move out of your property to a new primary residence–keeping your former residence as an investment property, you have to remove the exemption from that property and reapply with your new primary residence.

Early tax filers should apply by September 13 while all others can apply by the deadline of December 1 to see the exemption reflected on the next year’s tax bill.

For those considering buying a home in Philadelphia or moving to Philadelphia, this is a huge benefit. Questions? Feel free to reach out to me.

Ready to save money on your tax bill?

Apply here