Cost of Living in Honesdale, PA

With a cost of living index of 81, Honesdale, PA is a very affordable place to live. Living here is 19% cheaper than the national average and in line with the Pennsylvania state average. Honesdale is a small community of 4,465 residents.

Housing costs are the biggest factor in Honesdale's cost of living. The median monthly rent is $1,094 (17% below the US median of $1,319), and the median home value sits at $180,600 (41% below the national median of $304,900). At current prices, the median home costs roughly 4.7x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Honesdale is $38,469, which is 49% lower than the national median of $75,149. Residents spend roughly 34% of household income on rent. This exceeds the recommended 30% threshold, meaning many renters here are cost-burdened. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

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.