Prospect Park, PA Cost Of Living
Cost Of Living In Prospect Park, PA Summary
Cost of living in Prospect Park research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Prospect Park is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Pennsylvania, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Prospect Park is 105, with 100 being the average.
The cost of living index in Prospect Park is 1.1x higher than the national average.
Prospect Park ranks as the #179 cheapest in Pennsylvania out of 255.
Prospect Park ranks as the #3,177 cheapest out of 6,489 in the US.
The median home value in Prospect Park is $290,667.
The median income in Prospect Park is $65,774.
Table Of Contents
Prospect Park's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Prospect Park, PA?
According to the most recent data on the cost of living, Prospect Park has an overall cost of living index of 105, which is 1.1x higher than the national index of 100.
Compared to Pennsylvania, Prospect Park has a cost of living index that's 1.1x higher than Pennsylvania's index of 100.
The standard of living in Prospect Park ranks as #179 most affordable out of the 255 places we measured in Pennsylvania. By definition, that implies Prospect Park ranks as the #76 most expensive place in the Keystone State.
For more reading on life in Prospect Park, check out:
In Pennsylvania
In America
Prospect Park Cost Of Living Vs. Pennsylvania
Six factors go into calculating the cost of living index in Prospect Park. Here is how it fairs on each of the criteria:
The Services index in Prospect Park is 105.
The Groceries index in Prospect Park is 101.
The Health index in Prospect Park is 93.
The Housing index in Prospect Park is 107.
The Transportation index in Prospect Park is 106.
The Utilities index in Prospect Park is 109.
| Living Expense | Prospect Park | Pennsylvania | National Average | |
|---|---|---|---|---|
| Overall | 105 | 100 | 100 | |
| Services | 105 | 101 | 100 | |
| Groceries | 101 | 101 | 100 | |
| Health | 93 | 95 | 100 | |
| Housing | 107 | 93 | 100 | |
| Transportation | 106 | 108 | 100 | |
| Utilities | 109 | 108 | 100 | |
Prospect Park, PA Housing Cost Breakdown
Housing swings affordability the most between places in Pennsylvania, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in Prospect Park is $290,667.
The Median Rent in Prospect Park is $1,154.
The Median Income in Prospect Park is $65,774.
The Home Value To Income in Prospect Park is 4.4x.
The Rent To Monthly Income in Prospect Park is 0.21x.
| Statistic | Prospect Park | Pennsylvania | United States |
|---|---|---|---|
| Median Home Value | $290,667 | $281,782 | $303,400 |
| Median Rent | $1,154 | $1,162 | $1,348 |
| Median Income | $65,774 | $76,081 | $78,538 |
| Home Value To Income | 4.4x | 3.7x | 3.9x |
| Rent To Monthly Income | 0.21x | 0.18x | 0.21x |
Median Home Value
Median Rent
Median Income
Prospect Park, PA Costs By Category
Detailed Prospect Park Services Costs Vs. Pennsylvania
| Item | Prospect Park | Pennsylvania |
|---|---|---|
| Shampoo | $1.52 | $1.28 |
| Movie | $13.75 | $12.13 |
| Bowling | $19.47 | $18 |
| Haircut | $23.54 | $24.26 |
| Beauty Salon | $66.27 | $45.56 |
Detailed Prospect Park Groceries Costs Vs. Pennsylvania
| Item | Prospect Park | Pennsylvania |
|---|---|---|
| Ground Beef | $5.76 | $5.84 |
| Fried Chicken | $1.46 | $1.57 |
| Milk | $4.67 | $4.67 |
| Potatoes | $5.37 | $4.93 |
| Pizza | $11.73 | $12.09 |
| Beer | $11.99 | $10.41 |
| Toothpaste | $3.65 | $3.7 |
Detailed Prospect Park Health Costs Vs. Pennsylvania
| Item | Prospect Park | Pennsylvania |
|---|---|---|
| Optometrist | $123.5 | $125.68 |
| Doctor | $132.56 | $135.78 |
| Dentist | $103.31 | $113.29 |
Detailed Prospect Park Transportation Costs Vs. Pennsylvania
| Item | Prospect Park | Pennsylvania |
|---|---|---|
| Gasoline | $3.53 | $3.46 |
| Tire Balancing | $70.89 | $59.92 |
Detailed Prospect Park Utilities Costs Vs. Pennsylvania
| Item | Prospect Park | Pennsylvania |
|---|---|---|
| All Electricity | $222.45 | $193.99 |
| Phone | $198.27 | $192.25 |
Prospect Park SnackAbility
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