Study: Venango County Third in Pa. in Lowest Cost of Living
FRANKLIN, Pa. (EYT) – One website’s attempt to rank Pennsylvania’s counties by cost of living confirms what many already know – it’s cheap to live in this region.
Venango County ranked third in the state in relative cost of living and it is just one of several in the region that made the top 25.
Forest ranked second, Warren ranked sixth and Clarion ranked 14th.
Venango’s other neighboring counties, Mercer (No. 22), Crawford (No. 24) and Butler (No. 39) also ranked reasonably well.
The rankings compiled from information gathered by niche.com, attempted to measure the overall affordability and relative cost of living of an area by taking into account key factors such as a location’s housing, food, and fuel costs, as well as the median tax rates.
Data was gathered from the U.S. Census (2010) and Bureau of Labor Statistics.
Venango County Commissioner Vince Witherup said the rankings indicate some of the advantages of living in a more rural area.
“Venango County is a wonderful place to live in my opinion,” Witherup said. “In the rural areas, the quality of life is higher. We don’t have much crime, compared to other places, our infrastructure is fairly good and our educational system is better than what you’d find in Pittsburgh.
“I can be in Pittsburgh in an hour and 15 minutes, too,” Witherup said. “It’s not for everyone, but we do have a lot to offer here.”
Venango’s population is 53,460, with a median home value of $82,700, median rent of $622 per month and a median household income of $43,885.
While Elk County ranks first in Pa. in terms of lowest cost of living, it’s no surprise that counties comprised mostly of urban areas – such as Allegheny, Bucks, and Delaware – rank among the highest.
Across the U.S., Shannon County in South Dakota is the cheapest place to live. Its population is just 14,005 with a median home value of $20,000.00 and median rent at $431 per month. Its median household income is $26,383.
The most expensive place to live, according to the Motley Fool, is Nassau County, N.Y. With a population of 1.3 million, mainly those who work in New York City, its median home value is $517,000. Its median rent is $3,100 per month. The median household income is $95,395.
Here’s a look at how neighboring counties measure up with Venango:
2. Forest County
Population: 7,493
Median home value: $85,600
Median rent: $538
Median household income: $36,594
6. Warren County
Population: 40,649
Median home value: $90,900
Median rent: $571
Median household income: $44,977
14. Clarion County
Population: 38,939
Median home value: $108,100
Median rent: $610
Median household income: $42,890
22. Mercer County
Population: 114,598
Median home value: $111,000
Median rent: $657
Median household income: $45,831
24. Crawford County
Population: 87,027
Median home value: $106,700
Median rent: $633
Median household income: $45,637
39. Butler County
Population: 185,974
Median home value: $183,200
Median rent: $771
Median household income: 63,345
Copyright © 2024 EYT Media Group, Inc. All rights reserved. Any copying, redistribution or retransmission of the contents of this service without the express written consent of EYT Media Group, Inc. is expressly prohibited.
Category: Local News, News