An Overview of Cost of Living in Johnstown, PA
Are you thinking about relocating, but curious about the potential cost of living in Johnstown? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Johnstown stands at 80, making it 20% 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.
As per the most recent annual cost of living index, Johnstown stands out as one of the most economical places to call home in the entire country. A mere few cities can claim a cost of living index that is at least 20% less than the national average, and Johnstown proudly belongs to this select category. This emphasizes the extraordinary affordability of this locality when compared with other areas.
Housing expenses often consume a significant portion of your net income, occasionally surpassing 30%. Fortunately, housing costs in Johnstown are 69% below the national average. This highlights the region's exceptional affordability for both homeownership and rentals in comparison to the rest of the country. This favorable housing situation allows residents to allocate a more reasonable fraction of their income to housing, resulting in enhanced financial flexibility and improved overall financial well-being.
Is Johnstown Affordable?
Is Johnstown 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 Johnstown is 80% lower than the national average, while the average monthly rent prices are 43.3% lower than average. The affordability of any location can also be influenced by median income levels. Johnstown has a median household income of $29,171, which is 47.3% lower than the national average.
What Factors can Influence the Cost of Living in Johnstown?
Transportation: When public transportation options are limited or non-existent, residents frequently resort to vehicle ownership, which can significantly contribute to the overall cost of living. Monthly financial obligations encompass fuel, insurance, regular maintenance and potentially lease or financing expenses. In Johnstown, the transportation index is 7.4% higher than the national average.
Urbanization: Urban areas with extensive amenities and job opportunities tend to have a higher cost of living due to increased demand for services and relocation, resulting in higher home prices and higher rents. Less densely populated rural areas, or areas with less demand tend to have fewer amenities and slower job growth, which results in a lower cost of living.
Groceries: Grocery expenditures have undergone notable escalation over the last 2-3 years. In some markets, the cost of food products has surged by more than 20%, while others have experienced only modest increments. These fluctuations in food costs can have a significant impact on the overall cost of living in any region. In Johnstown, the groceries index registers 0.3% lower than the national average.
Where is the Data From?
The Johnstown 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.
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