Pennsylvania Cost Of Living Statistics


Steve Goldstein
Steve Goldstein
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Pennsylvania Cost Of Living Statistics 2023: Facts about Cost Of Living in Pennsylvania reflect the current socio-economic condition of the state.

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LLCBuddy editorial team did hours of research, collected all important statistics on Pennsylvania Cost Of Living, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

Are you planning to start a Pennsylvania LLC business in 2023? Maybe for educational purposes, business research, or personal curiosity, whatever it is – it’s always a good idea to gather more information.

How much of an impact will Pennsylvania Cost Of Living Statistics have on your day-to-day? or the day-to-day of your LLC Business? How much does it matter directly or indirectly? You should get answers to all your questions here.

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Top Pennsylvania Cost Of Living Statistics 2023

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Pennsylvania Cost Of Living “Latest” Statistics

  • According to the Bureau of Economic Analysis from 2020, Pennsylvania’s average total personal expenditure is $44,650, split out as follows.[1]
  • Medicaid is a combined state-federal program that covers 66% of resident days of care in nursing homes in Pennsylvania.[2]
  • Zillow’s most current statistics show that the average house value in Pennsylvania was close to $243,000.[1]
  • According to the Tax Foundation’s State Individual Income Tax Rates and Brackets for 2021, the rate in Pennsylvania is 3.07%, which is rather low on a national scale.[1]
  • According to the Bureau of Economic Analysis 2020 Personal Expenditures by State data, Pennsylvanians are actually more likely to spend approximately $7,894 per person per year on health care than housing.[1]

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How Useful is Pennsylvania Cost of Living

Pennsylvania is a diverse state with a range of urban, suburban, and rural areas, each with its own unique cost of living. In general, Pennsylvania tends to have a lower cost of living compared to many other states on the East Coast. This is especially true when compared to neighboring states like New York and New Jersey, where expenses for housing, transportation, and food can be significantly higher.

One of the major expenses for residents in Pennsylvania is housing. While the cost of housing can vary depending on the area, overall, Pennsylvania offers a wide range of options for affordable housing. Whether you’re looking to rent or buy, there are plenty of choices available to fit different budgets and preferences.

Another key component of the cost of living in Pennsylvania is transportation. With a well-developed highway system and public transportation options in major cities like Philadelphia and Pittsburgh, getting around the state is relatively affordable and convenient. Gas prices in Pennsylvania tend to be lower than in other states, which can be a significant saving for those who commute or enjoy road trips.

When it comes to food, Pennsylvania is known for its rich agricultural heritage and local food production. Residents have access to fresh, locally grown produce, dairy products, and meats, which can help lower grocery costs compared to states that rely heavily on imported goods. Additionally, Pennsylvania is home to a wide variety of dining options, from affordable diners to upscale restaurants, catering to different budgets and preferences.

Overall, the cost of living in Pennsylvania is relatively manageable for residents, offering a good balance between affordability and quality of life. While expenses like housing, transportation, and food may vary depending on the area, overall, Pennsylvania provides residents with a comfortable standard of living without breaking the bank.

In conclusion, understanding the cost of living in Pennsylvania is crucial for residents looking to make informed decisions about their finances and lifestyle choices. With its relatively affordable housing options, reliable transportation infrastructure, and access to fresh local food, Pennsylvania offers residents a good quality of life at a reasonable cost. By considering the state’s cost of living in their financial planning, residents can make the most of what Pennsylvania has to offer and enjoy a comfortable and fulfilling life in the Keystone State.

Reference

  1. sofi – https://www.sofi.com/cost-of-living-in-pennsylvania/
  2. phca – https://www.phca.org/for-consumers/research-data/long-term-and-post-acute-care-trends-and-statistics

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