Economy cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
Cost of living index99102100
Goods & Services index97103100
Groceries index100105100
Health care index9597100
Housing index9293100
Transportation index120112100
Utilities index108112100
A general summary of the cost of living index in Economy, PA is shown above. Compared to the state average of Pennsylvania the cost of living index in Economy, PA is 99, which is 3% lower than the average in Pennsylvania and compared to the national average it is 1% lower than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Economy, PA goods and services come in at 6% lower than the average in Pennsylvania and are 3% lower than compared to the nationwide average.

Did you know?

  • The cost of living in Economy is 3% lower than the Pennsylvania average.
  • The cost of living in Economy is 1% lower than the national average.
  • The cost of housing in Economy is 8% lower than the national average.
  • Pennsylvania general sales tax is 18% higher than the national average.
  • Pennsylvania state income tax is 38% higher than the national average.

Find Real Estate Listings In Economy


New Real Estate Listings In Economy

Compare Economy, PA Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
Price difference in compared to
Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
The salary calculator is meant to help you compare your salary in Economy, PA to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Economy, PA, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Economy, PA salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
If you want to find a good determining factor for the cost of living and the general affordability of housing in Economy, PA, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Economy, PA, the median monthly income is $78,396 for those who own their own homes. Under the standard rule, that income level would allow for $1,829 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $36,719, per the median income in the area. That would allow for renters to spend up to $857 on monthly rental expenses.

Pennsylvania Sales Tax

StateGeneral Sales TaxWith Max Surtax

Pennsylvania Income Tax

StateIncome Tax (Low)Income Tax (High)
The Pennsylvania sales tax and Pennsylvania income tax rates should definitely be considered when determining the overall cost of living in Economy, PA. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Pennsylvania sales tax is 6% and the maximum surtax is 8%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The Pennsylvania income tax rates range from 3.07% to 3.07%.

Goods & Services

ItemEconomyNational avg.Difference
Haircut $13.25$14.599.2%
Beauty Salon $37.49$34.688.1%
Toothpaste $1.74$2.4729.6%
Shampoo $0.99$1.023.1%
Movie $8.65$9.8712.3%
Bowling $3.95$4.3910.1%


ItemEconomyNational avg.Difference
Ground Beef $4.89$4.489.2%
Fried Chicken $1.72$1.4617.5%
Milk $2.04$2.3613.4%
Potatoes $3.49$3.0614.0%
Pizza $8.70$9.245.9%
Beer $9.99$8.6315.7%

Health Care

ItemEconomyNational avg.Difference
Optometrist $87.00$99.7812.8%
Doctor $89.83$105.0314.5%
Dentist $82.00$88.707.6%
Ibuprofen $9.92$9.415.4%
Lipitor $325.87$298.509.2%


ItemEconomyNational avg.Difference
Home Price $162,300.00$175,700.007.6%
Avg. Mortgage Payment $963.99$1,081.0310.8%
Apartment Rent $829.00$920.009.9%


ItemEconomyNational avg.Difference
Gasoline $2.56$2.0922.4%
Tire Balancing $51.54$45.2913.8%


ItemEconomyNational avg.Difference
All Electricity$200.47$170.8017.4%
Phone $26.50$28.266.2%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Enlow, PA1,04082-18%
McKees Rocks, PA6,08883-17%
Midland, PA2,60884-16%
Beaver Falls, PA8,84284-16%
Freedom, PA1,63485-15%
Economy, PA9,13399-1%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Scotchtown, NY9,13212727%
Laurens, SC9,13688-12%
Grinnell, IA9,13687-13%
Red Bank, SC9,12894-6%
Washington Terrace, UT9,14092-8%
Economy, PA9,13399-1%
Source: The Economy, PA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.