Philadelphia has the 5th largest population in the United States. The population grew by 2.7% from 2010 to 2015, which was faster than the national average. Unemployment in the Philadelphia area is 5.1%, which is higher than the national average, and is getting better. Philadelphia has the 8th largest local economy in the US, and a low cost of living. The average pay for jobs in Philadelphia is above average at $52,550, and the median cost of a home in Philadelphia is $143,200, which is below the national average. 24% of workers in Philadelphia hold a bachelors degree or higher (above average), and 81% of workers have a high school degree (above average). Driving to work is especially common in Philadelphia. 50% of Philadelphia workers drive to work alone, 26% take public transit, 8% carpool, and 14% walk. People in Philadelphia spend an average of 32 minutes commuting to work, which is longer than the national average of 26 minutes.