Cost of Living in Cheltenham Village, PA

With a cost of living index of 93, Cheltenham Village, PA is slightly more affordable than average. Living here is 7% cheaper than the national average and 10% above the Pennsylvania state average of 83. Cheltenham Village is a small community of 2,033 residents.

Housing costs are the biggest factor in Cheltenham Village's cost of living. The median monthly rent is $1,120 (15% below the US median of $1,319), and the median home value sits at $278,400 (9% below the national median of $304,900). At current prices, the median home costs roughly 3.1x the median household income — a moderately affordable ratio by today's standards.

The median household income in Cheltenham Village is $89,018, which is 18% higher than the national median of $75,149. Residents spend roughly 15% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Climate is another factor for anyone considering a move to Cheltenham Village. The area sees an average annual temperature of 56.4°F, with summers averaging 76°F and winters around 37°F. Annual rainfall totals 45 inches spread over roughly 130 days.

Everyday prices in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 5 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.