An Overview of Cost of Living in Carlisle, PA
Are you thinking about relocating, but curious about the potential cost of living in Carlisle? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Carlisle stands at 102, making it 2% higher 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.
In Carlisle, daily expenses such as food, housing, goods and services, transportation and health care are in line with comparable areas and about average when compared to all cities across the nation. This ensures that the cost of living in Carlisle will resemble that of an average city, contributing to a manageable cost of living.
Is Carlisle Affordable?
Is Carlisle an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Carlisle is 1% higher than the national average, while the average monthly rent prices are 7.5% lower than average. The affordability of any location can also be influenced by median income levels. Carlisle has a median household income of $49,557, which is 10.4% lower than the national average.
What Factors can Influence the Cost of Living in Carlisle?
Taxes: Locations with elevated tax rates, encompassing both sales and income taxes, can be a factor in driving up the cost of living. When you're paying more in taxes for everyday goods and services, it naturally translates into higher expenses. Similarly, a higher income tax rate can also contribute to an overall higher cost of living. In Carlisle, the standard sales tax rate starts at 6%, and the income tax rates commence at 3.07%.
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 Carlisle, the transportation index stands at 8.4% higher than the national average.
Housing: Elevated demand for housing within coveted locales has the propensity to escalate both property values and rental rates, thereby serving as a primary catalyst for an augmented cost of living. Conversely, areas witnessing diminished housing demand, particularly within less desirable environs, often experience an inversely proportional effect, leading to price reductions and subsequently contributing to a more modest cost of living. In Carlisle, the housing index is 1.6% lower than the national average.
Where is the Data From?
The Carlisle 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.