Cost of Living in Lima, PA

With a cost of living index of 137, Lima, PA is a notably expensive place to live. Living here is 37% more expensive than the national average and 54% above the Pennsylvania state average of 83. Lima is a small community of 2,834 residents.

Housing costs are the biggest factor in Lima's cost of living. The median monthly rent is $2,343 (78% above the US median of $1,319), and the median home value sits at $372,300 (22% 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 Lima is $76,953, which is 2% higher than the national median of $75,149. Residents spend roughly 37% of household income on rent. This exceeds the recommended 30% threshold, meaning many renters here are cost-burdened.

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.