Cost of Living in Colony Park, PA

With a cost of living index of 105, Colony Park, PA is somewhat more expensive than average. Living here is 5% more expensive than the national average and 22% above the Pennsylvania state average of 83. Colony Park is a small community of 1,125 residents.

Housing costs are the biggest factor in Colony Park's cost of living. The median monthly rent is $1,527 (16% above the US median of $1,319), and the median home value sits at $302,700 (1% below the national median of $304,900). At current prices, the median home costs roughly 3.6x the median household income — a moderately affordable ratio by today's standards.

The median household income in Colony Park is $83,229, which is 11% higher than the national median of $75,149. Residents spend roughly 22% 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 Colony Park. The area sees an average annual temperature of 53.7°F, with summers averaging 74°F and winters around 33°F. Annual rainfall totals 45.2 inches spread over roughly 129 days.

Everyday prices in the Reading, PA (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.