Lorane 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.
IndexLoranePennsylvaniaNational
Cost of living index108100100
IndexLoranePennsylvaniaNational
Goods & Services index11099100
Groceries index108102100
Health care index10190100
Housing index10993100
Transportation index99109100
Utilities index109115100
Displayed above is a general overview of the Lorane, PA cost of living index. The overall cost of living index in Lorane, PA is 108, which is 8% higher than the Pennsylvania average and 8% higher than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Lorane, PA are 11% higher than the Pennsylvania average and 10% higher than the national average.

Did you know?

  • The cost of living in Lorane is 8% higher than the Pennsylvania average.
  • The cost of living in Lorane is 8% higher than the national average.
  • The cost of housing in Lorane is 9% 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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Salary Calculator

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The salary calculator is used in order to provide a comparison of your current salary in Lorane, 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 Lorane, PA, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Lorane, 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$63,029$5,252$1,471$1,891
Renters$59,811$4,984$1,395$1,795
The affordability of the housing market in Lorane, PA as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Lorane, PA homeowners, the median income is $63,029. This indicates that a monthly maximum of $1,471 should be spent by homeowners on all housing related costs. Renters have a median income of $59,811. This indicates that renters should have a maximum of $1,395 used for their rent related monthly costs.

Pennsylvania Sales Tax

StateGeneral Sales TaxWith Max Surtax
Pennsylvania6%8%

Pennsylvania Income Tax

StateIncome Tax (Low)Income Tax (High)
Pennsylvania3.07%3.07%
For those who live in Lorane, PA and want to know what the true cost of living is, they ought to look at both the Pennsylvania income tax rate and the Pennsylvania sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In Pennsylvania, the sales tax is 6%, while the most you'll pay in surtax is 8%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in Pennsylvania, the income tax rate ranges between 3.07% to 3.07%.

Goods & Services

ItemLoraneNational avg.Difference
Haircut $12.58$15.5619.2%
Beauty Salon $39.00$36.118.0%
Toothpaste $2.96$2.4719.6%
Shampoo $1.03$0.966.7%
Movie $11.70$10.1315.5%
Bowling $4.67$4.741.4%

Groceries

ItemLoraneNational avg.Difference
Ground Beef $4.88$3.9822.4%
Fried Chicken $1.78$1.4126.3%
Milk $2.03$2.061.6%
Potatoes $3.77$2.9826.5%
Pizza $9.61$9.471.4%
Beer $9.66$8.799.8%

Health Care

ItemLoraneNational avg.Difference
Optometrist $127.50$101.0426.2%
Doctor $83.94$107.4421.9%
Dentist $98.50$90.428.9%
Ibuprofen $9.59$9.283.3%
Lipitor $442.05$426.503.6%

Housing

ItemLoraneNational avg.Difference
Home Price $173,600.00$175,700.001.2%
Avg. Mortgage Payment $1,226.29$1,133.238.2%
Apartment Rent $1,210.00$920.0031.5%

Transportation

ItemLoraneNational avg.Difference
Gasoline $1.93$1.993.1%
Tire Balancing $47.78$45.764.4%

Utilities

ItemLoraneNational avg.Difference
All Electricity$184.77$163.8112.8%
Phone $29.95$28.395.5%
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.
Reading, PA88,05190-10%
Walnuttown, PA37097-3%
Baumstown, PA46595-5%
Alsace Manor, PA28599-1%
Mount Penn, PA3,15096-4%
Lorane, PA3,8681088%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Day Valley, CA3,86919191%
Salton City, CA3,86794-6%
Pennsburg, PA3,87011313%
Cresco, IA3,87183-17%
Newcomerstown, OH3,87179-21%
Lorane, PA3,8681088%
Source: The Lorane, PA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.