Franklin Park 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.
IndexFranklin ParkPennsylvaniaNational
Cost of living index122102100
IndexFranklin ParkPennsylvaniaNational
Goods & Services index97103100
Groceries index100105100
Health care index9597100
Housing index16993100
Transportation index120112100
Utilities index108112100
An overview of the general cost of living index for Franklin Park, PA is displayed above for your reference. Residents in Franklin Park, PA enjoy a cost of living index of 122. This index is 20% higher than the Pennsylvania average, and 22% higher than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Franklin Park, PA, the average cost of goods and services is 6% lower than it is in Pennsylvania, and it is 3% lower than the national average.

Did you know?

  • The cost of living in Franklin Park is 20% higher than the Pennsylvania average.
  • The cost of living in Franklin Park is 22% higher than the national average.
  • The cost of housing in Franklin Park is 69% higher 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.

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Compare Franklin Park, PA Cost of living To Other Cities

Salary Calculator

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Groceries index
Health care index
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The salary calculator is used in order to provide a comparison of your current salary in Franklin Park, PA to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Franklin Park, PA, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Franklin Park, PA salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$121,339$10,112$2,831$3,641
Renters$40,855$3,405$953$1,226
A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in Franklin Park, PA, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Franklin Park, PA has a median income of about $121,339 for people who own homes. Based on that number, a person should spend a maximum of $2,831 on expenses related to housing. Renters have a slightly different median income, which is $40,855. Based on this average, renters should spend no more than $953 on all of their rental costs if they want to maintain a non-impoverished standard of living.

Pennsylvania Sales Tax

StateGeneral Sales TaxWith Max Surtax
Pennsylvania6%8%

Pennsylvania Income Tax

StateIncome Tax (Low)Income Tax (High)
Pennsylvania3.07%3.07%
One thing to keep in mind when considering the cost of living in Franklin Park, PA is the Pennsylvania sales tax and Pennsylvania income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The Pennsylvania sales tax rate is 6% and the maximum surtax that can be charged is 8%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The Pennsylvania income tax rates range from 3.07% to 3.07%.

Goods & Services

ItemFranklin ParkNational 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%

Groceries

ItemFranklin ParkNational 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

ItemFranklin ParkNational 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%

Housing

ItemFranklin ParkNational avg.Difference
Home Price $295,500.00$175,700.0068.2%
Avg. Mortgage Payment $963.99$1,081.0310.8%
Apartment Rent $1,583.00$920.0072.1%

Transportation

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

Utilities

ItemFranklin ParkNational 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.
Rankin, PA2,14279-21%
Braddock, PA2,03080-20%
North Braddock, PA4,84781-19%
Enlow, PA1,04082-18%
East Pittsburgh, PA1,91082-18%
Franklin Park, PA13,88212222%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Canyon, TX13,88289-11%
Wood Dale, IL13,88211313%
Pierre, SD13,88592-8%
Sun Lakes, AZ13,8851077%
Mountain Home, ID13,87188-12%
Franklin Park, PA13,88212222%
Source: The Franklin Park, PA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.