F
26%
Overall NAT. AVG.
3%
Goods & Services NAT. AVG.
79%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Broomall Pennsylvania National
Cost of living12698100
Goods & Services10399100
Groceries10299100
Health care9494100
Housing17991100
Transportation107106100
Utilities110107100

An Overview of Cost of Living in Broomall, PA

Are you thinking about relocating, but curious about the potential cost of living in Broomall? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Broomall stands at 126, making it 26% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

If you're in pursuit of an economical living environment, Broomall may not fit the bill, as it ranks among the most expensive places to reside in the United States. Just a minority of regions exhibit a cost of living that is more than 20% higher than the national average, and, unfortunately, Broomall falls within this bracket.

Housing costs are a major factor in the Broomall cost of living index, and they often eat up a big chunk of your take-home pay. Unfortunately, in this area, housing expenses for both homeownership and rentals were 79% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.

Is Broomall Affordable?

Is Broomall an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Broomall is 91.5% higher than the national average, while the average monthly rent prices are 49.7% higher than average. The affordability of any location can also be influenced by median income levels. Broomall has a median household income of $95,992, which is 73.5% higher than the national average.

What Factors can Influence the Cost of Living in Broomall?

Housing: Elevated demand for housing within coveted locales has the propensity to escalate both property values and rental rates, thereby serving as a primary catalyst for an augmented cost of living. Conversely, areas witnessing diminished housing demand, particularly within less desirable environs, often experience an inversely proportional effect, leading to price reductions and subsequently contributing to a more modest cost of living. In Broomall, the housing index is 79% higher than the national average.

Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Broomall, the groceries index is 2% higher than the national average.

Transportation: In cities with limited or no public transportation, residents may find it necessary to own and maintain vehicles, thereby elevating the cost of living. Monthly expenditures include fuel, insurance, routine maintenance and potential lease or financing commitments. In Broomall, the transportation index stands at 6.7% higher than the national average.

Where is the Data From?

The cost of living in Broomall, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Broomall is 29% higher than the Pennsylvania average
  • The cost of living in Broomall is 26% higher than the national average
  • Broomall housing is 79% higher than the national average
  • Pennsylvania general sales tax is 18% higher than the national average
  • Pennsylvania state income tax is 18% higher than the national average

Most Affordable Places to Live in and Around Broomall

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Compare Broomall, PA Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$106,083$8,840$2,475$3,183
      Renters$64,292$5,358$1,500$1,929
      A good indicator of the general affordability of housing in Broomall, PA, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Broomall, the median monthly income is $106,083 for those who own their own homes. Under the standard rule, that income level would allow for $2,475 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $64,292, per the median income in the area. That would allow for renters to spend up to $1,500 on monthly rental expenses.

      Pennsylvania Sales Tax

      State General Sales Tax With Max Surtax
      Pennsylvania 6% 8%

      Pennsylvania Income Tax

      State Income Tax (Low) Income Tax (High)
      Pennsylvania 3.07% 3.07%

      Goods & Services

      Item Broomall National avg. Difference
      Haircut $23.54$24.263.0%
      Beauty Salon $66.27$45.5645.4%
      Toothpaste $3.65$3.701.5%
      Shampoo $1.52$1.2818.4%
      Movie $13.75$12.1313.3%
      Bowling $19.47$18.008.1%

      Groceries

      Item Broomall National avg. Difference
      Ground Beef $5.76$5.841.3%
      Fried Chicken $1.46$1.577.4%
      Milk $4.67$4.670.0%
      Potatoes $5.37$4.938.8%
      Pizza $11.73$12.092.9%
      Beer $11.99$10.4115.2%

      Health Care

      Item Broomall National avg. Difference
      Optometrist $123.50$125.681.7%
      Doctor $132.56$135.782.4%
      Dentist $103.31$113.298.8%
      Ibuprofen $11.22$10.655.3%
      Lipitor $398.10$468.6015.0%

      Housing

      Item Broomall National avg. Difference
      Home Price $353,700.00$184,700.0091.5%
      Avg. Mortgage Payment $2,169.88$2,346.697.5%
      Apartment Rent $1,421.00$949.0049.7%

      Transportation

      Item Broomall National avg. Difference
      Gasoline $3.53$3.462.0%
      Tire Balancing $70.89$59.9218.3%

      Utilities

      Item Broomall National avg. Difference
      All Electricity $222.45$193.9914.7%
      Phone $198.27$192.253.1%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Cheyney University, PA1941044.4%
      Arcadia University, PA5951043.8%
      Prospect Park CDP, PA2248217.9%
      Audubon Park, NJ9698712.8%
      Chester, PA33,8558910.6%
      Broomall, PA10,60812626.3%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Lake Barcroft, VA10,60416968.6%
      Sweetwater, TX10,6018118.7%
      Cordele, GA10,6008118.6%
      South Yarmouth, MA10,59813030.2%
      Greentree, NJ10,59712828.2%
      Broomall, PA10,60812626.3%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.