A+
12%
Overall NAT. AVG.
7%
Goods & Services NAT. AVG.
43%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Altoona Pennsylvania National
Cost of living8898100
Goods & Services9399100
Groceries10099100
Health care9194100
Housing5791100
Transportation107106100
Utilities125107100

An Overview of Cost of Living in Altoona, PA

Understanding the cost of living in Altoona can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Altoona cost of living index is 88, which is 12% lower than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.

Housing expenses can absorb a substantial portion of your net income, sometimes exceeding 30%. Thankfully, Altoona stands out by reporting housing costs that are 42.6% lower than the national average. This signifies that both homeownership and rental expenses in this region are considerably more budget-friendly compared to the rest of the country. With such favorable housing affordability, residents of Altoona can allocate a more reasonable portion of their income to housing, allowing for greater financial flexibility.

Is Altoona Affordable?

Is Altoona affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Altoona, the median home price is 49.7% lower than the national average and monthly rent prices are 26.1% lower than the typical rates. Additionally, the median income levels play a role in affordability, with Altoona boasting a median household income of $42,244, 23.6% lower than the national average.

What Factors can Influence the Cost of Living in Altoona?

Urbanization: Larger, urban areas boasting abundant amenities and robust employment prospects often exhibit a heightened cost of living, driven by the increased demand for services and residential relocation. Consequently, this leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural locales or regions marked by diminished demand typically offer a more limited range of amenities and experience slower job market expansion. This translates into a more affordable cost of living.

Subsidies: Certain cities or states may implement government subsidies or assistance programs with the goal of alleviating the cost of living pressures on their residents. These programs encompass a broad spectrum of support mechanisms, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farming subsidies. Areas offering fewer subsidies may experience a rise in their cost of living.

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 Altoona, the groceries index is 0.3% lower than the national average.

Where is the Data From?

The Altoona cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Altoona is 10% lower than the Pennsylvania average
  • The cost of living in Altoona is 12% lower than the national average
  • Altoona housing is 43% lower than the national average
  • Pennsylvania general sales tax is 18% higher than the national average
  • Pennsylvania state income tax is 18% higher than the national average

Most Affordable Places to Live in and Around Altoona

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Compare Altoona, PA Cost of Living

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      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

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$58,801$4,900$1,372$1,764
      Renters$21,320$1,777$497$640
      A good indicator of the general affordability of housing in Altoona, PA, 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 Altoona, the median monthly income is $58,801 for those who own their own homes. Under the standard rule, that income level would allow for $1,372 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $21,320, per the median income in the area. That would allow for renters to spend up to $497 on monthly rental expenses.

      Pennsylvania Sales Tax

      State General Sales Tax With Max Surtax
      Pennsylvania 6% 8%

      Pennsylvania Income Tax

      State Income Tax (Low) Income Tax (High)
      Pennsylvania 3.07% 3.07%

      Goods & Services

      Item Altoona National avg. Difference
      Haircut $23.73$24.262.2%
      Beauty Salon $40.40$45.5611.3%
      Toothpaste $3.72$3.700.6%
      Shampoo $1.39$1.288.5%
      Movie $11.77$12.133.0%
      Bowling $16.24$18.009.8%

      Groceries

      Item Altoona National avg. Difference
      Ground Beef $5.70$5.842.3%
      Fried Chicken $1.41$1.5710.6%
      Milk $4.52$4.673.2%
      Potatoes $5.47$4.9310.8%
      Pizza $12.83$12.096.2%
      Beer $10.58$10.411.6%

      Health Care

      Item Altoona National avg. Difference
      Optometrist $109.26$125.6813.1%
      Doctor $100.92$135.7825.7%
      Dentist $110.50$113.292.5%
      Ibuprofen $10.45$10.651.9%
      Lipitor $502.54$468.607.2%

      Housing

      Item Altoona National avg. Difference
      Home Price $92,900.00$184,700.0049.7%
      Avg. Mortgage Payment $2,225.61$2,346.695.2%
      Apartment Rent $701.00$949.0026.1%

      Transportation

      Item Altoona National avg. Difference
      Gasoline $3.73$3.467.6%
      Tire Balancing $64.05$59.926.9%

      Utilities

      Item Altoona National avg. Difference
      All Electricity $270.68$193.9939.5%
      Phone $196.77$192.252.4%
      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 Population Cost of Living Index National Avg.
      Northwood, PA1248217.6%
      Ashville, PA1638317.3%
      Patton, PA1,6788317.2%
      Portage, PA2,4668416.2%
      Birmingham, PA1208415.8%
      Altoona, PA43,6698812.2%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Lombard, IL43,75511716.8%
      Sierra Vista, AZ43,7561033.2%
      The Colony, TX43,79112019.5%
      Riverton, UT43,79312928.7%
      Peachtree Corners, GA43,51612120.8%
      Altoona, PA43,6698812.2%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.