Park Forest Village 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.
IndexPark Forest VillagePennsylvaniaNational
Cost of living index112102100
IndexPark Forest VillagePennsylvaniaNational
Goods & Services index99103100
Groceries index104105100
Health care index9897100
Housing index13393100
Transportation index111112100
Utilities index107112100
Here we can see a simple outline of the cost of living in Park Forest Village, PA. As you can see, with the average cost of living in Park Forest Village, PA being 112, that puts it 10% higher than the average of Pennsylvania and 12% higher than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Park Forest Village, PA, the price of goods and services are 4% lower than the average of Pennsylvania as well as 1% lower than the nation's average.

Did you know?

  • The cost of living in Park Forest Village is 10% higher than the Pennsylvania average.
  • The cost of living in Park Forest Village is 12% higher than the national average.
  • The cost of housing in Park Forest Village is 33% 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.

Find Real Estate Listings In Park Forest Village

Location
Price
Bedrooms
Bathrooms
 

New Real Estate Listings In Park Forest Village

Compare Park Forest Village, 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
Use the salary calculator to compare your current salary in Park Forest Village, PA to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Park Forest Village, PA, then you would need to earn more income in order to maintain the same standard of living. To use the Park Forest Village, PA salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$92,652$7,721$2,162$2,780
Renters$20,640$1,720$482$619
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Park Forest Village, PA, as well as what the average cost of living is. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payment and not more than 36 percent of income on all expenses and debts. In Park Forest Village, PA homeowners have a median income of $92,652. Using that number, you will come up with a maximum of $2,162 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $20,640, which means there is a maximum of $482 to be spent on the costs of renting a home or apartment.

Pennsylvania Sales Tax

StateGeneral Sales TaxWith Max Surtax
Pennsylvania6%8%

Pennsylvania Income Tax

StateIncome Tax (Low)Income Tax (High)
Pennsylvania3.07%3.07%
When you are determining the total cost of living in Park Forest Village, PA you will want to make sure you consider both the Pennsylvania sales tax and the Pennsylvania income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in Pennsylvania is 6%, with the highest surtax being 8%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in Pennsylvania have a range from 3.07% to 3.07%.

Goods & Services

ItemPark Forest VillageNational avg.Difference
Haircut $13.03$14.5910.7%
Beauty Salon $34.66$34.680.1%
Toothpaste $2.99$2.4720.9%
Shampoo $0.99$1.023.1%
Movie $8.75$9.8711.3%
Bowling $3.75$4.3914.6%

Groceries

ItemPark Forest VillageNational avg.Difference
Ground Beef $5.99$4.4833.8%
Fried Chicken $1.89$1.4629.1%
Milk $3.87$2.3664.2%
Potatoes $3.99$3.0630.3%
Pizza $7.85$9.2415.1%
Beer $10.47$8.6321.3%

Health Care

ItemPark Forest VillageNational avg.Difference
Optometrist $79.30$99.7820.5%
Doctor $80.00$105.0323.8%
Dentist $98.38$88.7010.9%
Ibuprofen $9.79$9.414.0%
Lipitor $320.18$298.507.3%

Housing

ItemPark Forest VillageNational avg.Difference
Home Price $252,900.00$175,700.0043.9%
Avg. Mortgage Payment $825.80$1,081.0323.6%
Apartment Rent $982.00$920.006.7%

Transportation

ItemPark Forest VillageNational avg.Difference
Gasoline $2.39$2.0914.2%
Tire Balancing $45.80$45.291.1%

Utilities

ItemPark Forest VillageNational avg.Difference
All Electricity$165.62$170.803.0%
Phone $34.18$28.2621.0%
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.
Kylertown, PA40683-17%
Grassflat, PA47784-16%
Belleville, PA1,91389-11%
Barrville, PA19290-10%
Port Matilda, PA70990-10%
Park Forest Village, PA9,27611212%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Rincon, GA9,273100-0%
Roxborough Park, CO9,27312323%
Little River, SC9,27399-1%
Tomah, WI9,28187-13%
Clinton, OK9,28181-19%
Park Forest Village, PA9,27611212%
Source: The Park Forest Village, PA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.