F
25%
Overall NAT. AVG.
3%
Goods & Services NAT. AVG.
74%
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 King of Prussia Pennsylvania National
Cost of living12598100
Goods & Services10399100
Groceries10299100
Health care9494100
Housing17491100
Transportation107106100
Utilities110107100

An Overview of Cost of Living in King of Prussia, PA

Getting a feel for the cost of living in King of Prussia is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in King of Prussia is 125, which is 25% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

If affordability is among your top priorities when searching for a new place to live, this area may not be the ideal fit, as the cost of living in King of Prussia is among the most expensive in the United States. Just a minority of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, King of Prussia falls into this category, which may not align with your goal of finding a budget-friendly living environment.

Housing costs are a very significant part of the King of Prussia cost of living index and generally encompass a large percentage of take-home income. Unfortunately, in this area, the housing costs for both homes and rentals were 74.3% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.

Is King of Prussia Affordable?

Is King of Prussia an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in King of Prussia, the median home price is 77% higher than what most folks pay across the country, and monthly rent prices are 67.9% higher than the usual rates. Income levels in King of Prussia come in at $97,349, which is 76% higher than the national average.

What Factors can Influence the Cost of Living in King of Prussia?

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 King of Prussia, the groceries index is 2% higher than the national average.

Housing: A sought-after location with high housing demand often leads to increased property values and rental rates, which can significantly inflate the overall cost of living. Conversely, areas with low housing demand, particularly in less desirable locales, tend to experience the opposite effect, causing prices to drop and contributing to a more affordable cost of living. In King of Prussia, the housing index stands at 74.3% higher than the national average.

Subsidies: Certain cities or states may institute government subsidies or assistance programs designed to alleviate the financial burdens associated with the cost of living for their residents. These programs encompass a variety of support mechanisms, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farm subsidies. Areas that provide fewer subsidies may see an uptick in their overall cost of living.

Where is the Data From?

The cost of living data in King of Prussia displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.

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Cost Of Living Quick Facts

  • The cost of living in King of Prussia is 28% higher than the Pennsylvania average
  • The cost of living in King of Prussia is 25% higher than the national average
  • King of Prussia housing is 74% 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 King of Prussia

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Compare King of Prussia, 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$110,069$9,172$2,568$3,302
      Renters$84,121$7,010$1,963$2,524
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in King of Prussia, PA, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In King of Prussia, homeowners have a median income of $110,069. Using that number, a maximum of $2,568 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $84,121, which means there is a maximum of $1,963 to be spent on the costs of renting a home or apartment.

      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 King of Prussia 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 King of Prussia 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 King of Prussia 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 King of Prussia National avg. Difference
      Home Price $327,000.00$184,700.0077.0%
      Avg. Mortgage Payment $2,169.88$2,346.697.5%
      Apartment Rent $1,593.00$949.0067.9%

      Transportation

      Item King of Prussia National avg. Difference
      Gasoline $3.53$3.462.0%
      Tire Balancing $70.89$59.9218.3%

      Utilities

      Item King of Prussia 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.
      Arcadia University, PA5951043.8%
      Cheyney University, PA1941044.4%
      Prospect Park CDP, PA2248217.9%
      Camden, NJ73,742919.1%
      Colwyn, PA2,541918.7%
      King of Prussia, PA22,02812524.9%

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      Happy Valley, OR22,04915252.0%
      King of Prussia, PA22,02812524.9%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.