The average electricity rate in Phoenixville in October was 14.53 cents per kWh. The average monthly electricity usage for a home was 670 kWh, resulting in a bill of roughly $97.
Average Cost of Living in Pennsylvania: $44,650 per year
Pennsylvania is in the middle of the pack when it comes to cost of living. Pennsylvania is ranked 29th in the MERIC cost of living index for the third quarter of 2021, which means it is somewhat more costly than Minnesota and slightly less expensive than Montana.
However, if you’re hoping to live in the tri-state area, Pennsylvania might be the best option: According to the same data, neighboring New York is ranked 48th, and New Jersey, at 42nd, isn’t far behind.
According to Bureau of Economic Analysis data from 2020, the average total personal expenditure in Pennsylvania is $44,650, which is split down as follows:
Housing Costs in Pennsylvania
On a national level, Pennsylvania is doing very well when it comes to the expense of having a roof over your head. The average home worth in the commonwealth was over $243,000, according to Zillow’s most current data.
According to the National Association of Realtors, the median sale price of an existing home in the United States in late 2021 was $359,700. According to the Census Bureau and the Department of Housing and Urban Development, the median price of new residences was $408,800.
Of course, how much you spend for housing on a monthly basis is determined on the type of housing you require and where it is located.
Here are the median monthly rent and mortgage costs in Pennsylvania (U.S. Census, 2019), as well as the average property price by major metro (Zillow, September 2021, or August 2021 when marked with an asterisk).
Utility Costs in Pennsylvania
After you’ve taken care of the roof, you’ll need to provide it with power, water, maybe natural gas, and, most importantly, cable and internet. (You don’t want to be late for the Eagles game!)
Groceries & Food
Cheesesteak alone will not sustain a man (or a woman, or a child), no matter how enticing it may be.
Remember how we talked about the Bureau of Economic Analysis’ estimate of $3,334 for yearly per-capita food and beverage spending? When you split that number by 12 months, you get $278 per individual, $556 per couple, or $1,111 for a family of four. (Of course, these figures aren’t exact, and they don’t account for the fact that, for example, children consume less than adults.)
We now have more information about the cost of food in Pennsylvania thanks to the Council for Community and Economic Research’s second-quarter 2021 Cost of Living Index. (Surprise, surprise: your location in the state is important.)
The grocery items index in Pennsylvania is broken down as follows in different Pennsylvania metros.
Even while more of us work from home, many more still go to work every day not to mention schlepping the kids to and from school, music classes, or football practice if only because of the plague.
While the cost of transportation in each state, including Pennsylvania, will vary substantially based on your family and situation, MIT’s Living Wage Calculator provides some useful information on the cost of transportation in each state:
Health care is not free in Pennsylvania, nor in any other state in the United States. According to the Bureau of Economic Analysis’ 2020 Personal Expenditures by State data, Pennsylvanians spend slightly more on health care than they do on housing each year, around $7,894 per person.
This sum, however, will fluctuate greatly depending on your health insurance coverage and how frequently you require medical attention. Your prices could be significantly cheaper or very higher.
Pennsylvania’s average monthly child care costs range from $1,028 to $1,437 per child.
Keeping the kids entertained is always a key line item in a parent’s monthly budget, and parents in Pennsylvania will need to budget carefully to cover those charges.
Do you need assistance in locating the best child care program for your family? The Pennsylvania Department of Education has an online directory of child care providers that can be searched.
We all have to pay federal income taxes, but the rate at which you pay state income taxes varies greatly depending on where you live in the country.
Unlike many other states, Pennsylvania has a single-rate tax, meaning that everyone pays the same rate as long as they earn taxable income. The rate is 3.07 percent, according to the Tax Foundation’s State Individual Income Tax Rates and Brackets for 2021, which is relatively low on a national basis.
Keep in mind that the sales tax rate in Pennsylvania is 6%, with additional percentages imposed in Allegheny County and Philadelphia.
Let’s speak about the enjoyable things now that we’ve covered all of the essentials. According to the Bureau of Economic Analysis’ 2020 Personal Expenditures by State, Pennsylvanians spend $24,789 per year on expenses other than housing, health care, groceries, and petrol. Here’s where some of those funds could end up (prices correct as of November 2021):
- $74.95 per person for a one-day ticket to Hersheypark, the candy-themed amusement park that brings thousands of visitors to Hershey, Pennsylvania (though discounts are regularly available).
- The Philadelphia Museum of Art, which was founded in 1876 and houses over 240,000 works of art, charges $25 per person for two days of admission to both the Philadelphia Museum of Art and the Rodin Museum.
- A tour of Frank Lloyd Wright’s famous and beautiful Fallingwater, a residential structure situated in the forested countryside southeast of Pittsburgh: $30 per person for a guided tour, or $18 for a self-guided experience (though other, more expensive options are available, some of which include meals).
- In September 2021, Eater ranked a cheesesteak at Steve’s Prince of Steaks as the best in Philadelphia: $11.11. (which includes one type of cheese, though you may want to load up on extras for additional charges).
The good news is that Pennsylvania offers a plethora of free or nearly free diversions: The Liberty Bell, a must-see for any American, is open to the public daily from 9 a.m. to 5 p.m. and does not require a ticket, and the Edgar Allen Poe National Historic Site is the same. If you’re searching for a challenging experience, head west to Pine Creek Gorge, sometimes known as Pennsylvania’s Grand Canyon. Outdoor enthusiasts of all hues adore this magnificent natural scenery, which may be enjoyed for free on its bike routes and hiking trails.
In Pennsylvania, how much do utilities cost each month?
Pennsylvania has greater utility and transportation costs than the national average, although not by a large margin. Utility expenditures for a two-person family will cost roughly $181 per month. The average cost of utilities for one person is around $115.
How much does a typical energy bill in Pennsylvania cost?
The amount of electricity you consume every month and the rate you pay for electricity determine your monthly electricity bills. The average home power bill in Pennsylvania is $160 per month, which is obtained by multiplying the average monthly consumption by the average electricity rate: 1,144 kWh * 14/kWh.
Electricity bills are intended to cover all of the costs of generating the electricity you use, as well as the costs of operating and maintaining the electrical grid and any public benefit programs that promote clean energy and energy efficiency. These expenses are integrated into both fixed and variable charges (i.e., monthly customer prices and /kWh used). While fixed prices will remain constant month to month, the amount of variable charges on your statement will fluctuate depending on how much electricity you use. As a result, there are two options for lowering your bills: consuming less electricity or lowering the cost of electricity, such as by installing solar panels.
How much does it cost to live in Pennsylvania for a month?
The following is a summary of the cost of living in Philadelphia, Pennsylvania, United States: Without rent, a family of four will spend $3,704 per month. Without rent, a single person’s projected monthly costs are $1,033. The cost of living in Philadelphia is 24.70 percent cheaper than in New York (without rent).
How much does a typical water bill in Pennsylvania cost?
Over the next two years, the rate hikes will yield $138.6 million in income, with $92.4 million in 2021 and $46.2 million in 2022.
If authorized, a monthly water bill for an average residential customer using 3,458 gallons would rise from $57.85 to $65.91, a 13.9 percent increase in the first year.
In the first year, the average monthly household sewer payment would rise from $60.42 to $71.97, a 19.1 percent increase. The average monthly sewage payment would rise to $76.85 after a 6.8% increase in the second year.
A monthly water and sewer bill of $118.27 is currently received by the average Pennsylvania American customer. The payment will rise to $146.58 per month after the second wave of rate hikes takes effect, a 23.9 percent increase.
State regulators could take up to nine months to study and approve the rate hikes, which would take effect in 2021.
How much does a typical water bill cost?
The average American family uses 300 gallons of water per day, according to the Environmental Protection Agency (EPA).
16 That’s enough water to fill a six-person hot tub, to put it in context.
Water costs are also on the rise. In fact, between 2010 and 2015, it increased by 41%, with sewage charges and taxes increasing even more substantially. 17 Since 2015, the rate of increase has moderated, although prices have continued to rise.
What are your monthly expenses?
In 2020, one consumer unit’s average monthly expenses were $5,111. That works out to $61,334 each year on average.
Keep in mind that the cost of living varies by area, with some cities being relatively reasonable and others being highly expensive. The statistics shown below are national averages.
Consumer expenditure in the United States had been consistently rising, but in 2020, the trend reversed, because to the COVID-19 epidemic. Between 2019 and 2020, average expenses fell by 2.7 percent.
You might be unsure what constitutes a consumer unit. A consumer unit, according to the BLS, is any of the following:
Single people who share a home with others yet are financially self-sufficient
Two parents and a child, for example, would be one consumer unit. There would be three consumer units if there were three housemates. 2.5 persons make up the typical consumer unit.
Average annual income per household: $74,949
The average American household earns $74,949 per year after taxes. The average pre-tax income in the United States is $84,352.
According to income and spending data, Americans spend 82 percent of their income after taxes and save 18 percent of their income. That’s close to the minimum suggested savings rate of 20%.
While the amount you save is crucial, where you invest that money is equally significant. To maximize your interest earnings, the best alternative is to open a high-yield savings account.
How much does a single person’s monthly budget look like?
In 2018, one consumer unit spent an average of $5,102 per month. This means that the average American household budget is $61,224, up 1.9 percent over the previous year.
Families, a single individual living alone or sharing a home with others but not financially dependent on one another, or two or more persons living in the same place and sharing major expenses are all examples of consumer units, according to the BLS.
Three housemates, for example, would be equivalent to three consumer units. Dad, Mom, and their 14-year-old son would be one consumer unit. 2.5 persons make up the median consumer unit. People who agreed to provide specific information or useful purposes to the BLS provide data.
Census Bureau employees frequently conduct confidential phone conversations with people regarding their substantial and regular expenses. This can take several hours, or they can ask participants to fill out a dairy survey, in which each purchase they make over two 1-week periods is documented.
How much does an average electric bill cost?
According to the US Energy Information Administration, the average U.S. household spent $115.49 per month on energy in 2019, with the average U.S. person utilizing 877 kilowatt-hours each month.