Cost of Living in Collegeville, PA

With a cost of living index of 116, Collegeville, PA is a notably expensive place to live. Living here is 16% more expensive than the national average and 33% above the Pennsylvania state average of 83. Collegeville is a smaller community of 5,226 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Collegeville's cost of living. The median monthly rent is $1,468 (11% above the US median of $1,319), and the median home value sits at $431,200 (41% above the national median of $304,900). At current prices, the median home costs roughly 4.8x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Collegeville is $88,992, which is 18% higher than the national median of $75,149. Residents spend roughly 20% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. While incomes are above average, they more than offset the higher cost of living.

Climate is another factor for anyone considering a move to Collegeville. The area sees an average annual temperature of 51.9°F, with summers averaging 72°F and winters around 32°F. Annual rainfall totals 45.3 inches spread over roughly 137 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.