Reading cost of living index

Here we can see a simple outline of the cost of living in Reading, PA. As you can see, with the average cost of living in Reading, PA being 86, that puts it 13% lower than the average of Pennsylvania and 14% lower 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 Reading, PA, the price of goods and services are 1% higher than the average of Pennsylvania as well as 2% higher than the nation's average.

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Salary Calculator

The salary calculator allows you to compare how much your current salary in Reading, PA would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Reading, PA, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Reading, PA salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Reading, PA as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Reading, PA homeowners, is $43,499. This would allow for a maximum of $1,015 per month to be spent on housing costs. For renters, the median monthly income is $19,807 which would result in a maximum of $462 to be spent on rental costs.

Pennsylvania Sales Tax

Pennsylvania Income Tax

When you are determining the total cost of living in Reading, 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

Groceries

Health Care

Housing

Transportation

Utilities

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.

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Source: The Reading, PA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.