Cost of Living in Towanda, PA

With a cost of living index of 78, Towanda, PA is a very affordable place to live. Living here is 22% cheaper than the national average and 5% below the Pennsylvania state average of 83. Towanda is a small community of 2,796 residents.

Housing costs are the biggest factor in Towanda's cost of living. The median monthly rent is $1,008 (24% below the US median of $1,319), and the median home value sits at $166,100 (46% below the national median of $304,900). At current prices, the median home costs roughly 2.9x the median household income — well within traditional affordability guidelines.

The median household income in Towanda is $57,185, which is 24% lower than the national median of $75,149. Residents spend roughly 21% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Climate is another factor for anyone considering a move to Towanda. The area sees an average annual temperature of 48°F, with summers averaging 68°F and winters around 28°F. Annual rainfall totals 32.4 inches spread over roughly 153 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

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.