An Overview of Cost of Living in Scranton, PA
Are you thinking about relocating, but curious about the potential cost of living in Scranton? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Scranton stands at 89, making it 11% lower than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.
What Do Locals Say About the Cost of Living in Scranton?
When it comes to knowing a city, its residents are the experts. We conducted a survey with 14 locals to understand their opinions on the cost of living in Scranton. The results indicated that 64% found it reasonably priced with decreasing prices of goods and services, while 36% viewed it as quite expensive, with increasing prices.
Is Scranton Affordable?
Is Scranton affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Scranton, for instance, where the median home price falls 42.2% lower than the national average, and monthly rent rates are 16.2% lower than usual. Additionally, median income levels contribute to the equation, with Scranton flaunting a median household income of $41,687, 24.6% lower than the national norm.
What Factors can Influence the Cost of Living in Scranton?
Healthcare: The costs associated with healthcare and insurance premiums can exhibit notable disparities based on the city or state of residence. Access to healthcare facilities, out-of-pocket expenses for medical appointments, dental care charges, prescription medication costs and specialized medical care expenses all contribute to variations in the cost of living. In Scranton, healthcare costs are 13.6% lower than the national average.
Transportation: In cities with limited or no public transportation, residents may find it necessary to own and maintain vehicles, thereby elevating the cost of living. Monthly expenditures include fuel, insurance, routine maintenance and potential lease or financing commitments. In Scranton, the transportation index stands at 1.5% higher than the national average.
Groceries: The costs associated with groceries have witnessed substantial increases over the past 2-3 years. In select markets, food prices have escalated by more than 20% during this timeframe, whereas others have seen more restrained upticks. The variances in food expenses can exert a considerable influence on the overall cost of living in a given locale. In Scranton, the groceries index is 1.2% lower than the national average.
Where is the Data From?
The Scranton cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.
Here are the best places to live in Pennsylvania
Top 10 cities in Pennsylvania with the best education system
Top 10 best public schools in Scranton
Check out the 10 safest cities in Pennsylvania