A-
1%
Overall NAT. AVG.
7%
Goods & Services NAT. AVG.
6%
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 Colonial Park Pennsylvania National
Cost of living10198100
Goods & Services10799100
Groceries9999100
Health care11094100
Housing9491100
Transportation108106100
Utilities93107100

An Overview of Cost of Living in Colonial Park, PA

Knowing the cost of living in Colonial Park allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Colonial Park stands at 101, marking it 1% higher than the national average.

The cost of living in Colonial Park closely mirrors the national average in comparison to other cities nationwide. Essential items such as groceries, goods and services, health care and utilities are priced at a level consistent with similar urban areas. This means that residents of Colonial Park can anticipate that their daily expenses will remain reasonably in line with those of an average city, contributing to a manageable cost of living.

Is Colonial Park Affordable?

Is Colonial Park an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Colonial Park, the median home price is 13.8% lower than what most folks pay across the country, and monthly rent prices are 12.6% higher than the usual rates. Income levels in Colonial Park come in at $54,628, which is 1.3% lower than the national average.

What Factors can Influence the Cost of Living in Colonial Park?

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.

Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In Colonial Park, the transportation index is 8.4% higher than the national average.

Utilities: As with the prices of anything else, utility costs can exhibit significant variations, contingent on factors like climate, energy source availability, geographic location and state regulations. The expenses associated with electricity, water, heating, and waste disposal can fluctuate, either upward or downward, depending on the particular city or state. In Colonial Park, the utilities index registers 6.9% lower than the national average.

Where is the Data From?

The Colonial Park 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 Colonial Park is 3% higher than the Pennsylvania average
  • The cost of living in Colonial Park is 1% higher than the national average
  • Colonial Park housing is 6% 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 Colonial Park

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Compare Colonial Park, 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$75,901$6,325$1,771$2,277
      Renters$39,486$3,291$921$1,185
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Colonial Park, PA, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In Colonial Park, homeowners have a median income of $75,901. Using that number, a maximum of $1,771 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $39,486, which means there is a maximum of $921 to be spent on the costs of renting a home or apartment.

      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 Colonial Park National avg. Difference
      Haircut $26.17$24.267.9%
      Beauty Salon $40.39$45.5611.4%
      Toothpaste $3.77$3.701.9%
      Shampoo $1.43$1.2811.4%
      Movie $12.52$12.133.2%
      Bowling $15.56$18.0013.6%

      Groceries

      Item Colonial Park National avg. Difference
      Ground Beef $5.65$5.843.2%
      Fried Chicken $1.45$1.578.0%
      Milk $4.49$4.673.8%
      Potatoes $5.37$4.938.8%
      Pizza $11.67$12.093.4%
      Beer $11.13$10.416.9%

      Health Care

      Item Colonial Park National avg. Difference
      Optometrist $123.25$125.681.9%
      Doctor $177.40$135.7830.7%
      Dentist $118.44$113.294.6%
      Ibuprofen $10.64$10.650.2%
      Lipitor $469.00$468.600.1%

      Housing

      Item Colonial Park National avg. Difference
      Home Price $159,200.00$184,700.0013.8%
      Avg. Mortgage Payment $2,026.41$2,346.6913.6%
      Apartment Rent $1,069.00$949.0012.6%

      Transportation

      Item Colonial Park National avg. Difference
      Gasoline $3.66$3.465.7%
      Tire Balancing $68.88$59.9215.0%

      Utilities

      Item Colonial Park National avg. Difference
      All Electricity $169.62$193.9912.6%
      Phone $195.81$192.251.9%
      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.
      Fort Indiantown Gap, PA641043.7%
      Messiah College, PA2,0521043.7%
      Harrisburg, PA49,247909.7%
      New Buffalo, PA140919.0%
      Duncannon, PA1,305928.2%
      Colonial Park, PA15,4571010.8%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Riverdale, GA15,455909.6%
      Hueytown, AL15,446909.5%
      Tanque Verde, AZ15,44613736.6%
      Seymour, TN15,444937.0%
      Pacific Grove, CA15,471202102.2%
      Colonial Park, PA15,4571010.8%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.