Cost of Living in Penn Estates, PA

With a cost of living index of 119, Penn Estates, PA is a notably expensive place to live. Living here is 19% more expensive than the national average and 36% above the Pennsylvania state average of 83. Penn Estates is a small community of 3,691 residents.

Housing costs are the biggest factor in Penn Estates's cost of living. The median monthly rent is $2,188 (66% above the US median of $1,319), and the median home value sits at $233,200 (24% below the national median of $304,900). At current prices, the median home costs roughly 2.6x the median household income — well within traditional affordability guidelines.

The median household income in Penn Estates is $91,080, which is 21% higher than the national median of $75,149. Residents spend roughly 29% of household income on rent. This is near the 30% threshold that financial experts generally consider the upper limit of affordability. While incomes are above average, they more than offset the higher cost of living.

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.