Cost of Living in Elk County, Pennsylvania
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
These figures are county medians, not a personal budget. Use them to frame rent, ownership, and income tradeoffs, then account for household size, commute, financing, insurance, taxes, debt, and local availability before making a decision.
How Elk County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Elk County ranks #522 of 3,144 counties for affordability (top 17%)
Data Story
About Cost of Living in Elk County, Pennsylvania
Elk County offers best affordability nationwide
At 13.5%, Elk County's rent-to-income ratio ranks among the most affordable in the nation, well below both the national average and Pennsylvania's state average of 16.5%. With median rent of just $720 per month and household income at $64,103, renters here enjoy exceptional breathing room in their budgets.
Pennsylvania's most affordable rental market
Elk County's rent-to-income ratio of 13.5% stands markedly below Pennsylvania's state average of 16.5%, making it the most affordable county in the state for renters. The $720 median rent is Pennsylvania's lowest among the counties analyzed, providing substantial savings for renters across income levels.
Unbeaten affordability in the region
Elk's $720 rent undercuts all regional peers by $50–184 monthly: Clearfield ($788), Crawford ($800), Clinton ($815), and Columbia ($904). The county's 13.5% rent-to-income ratio stands alone—second-best in the entire dataset after comparing eight counties—reflecting Elk's exceptional position as the region's affordability leader.
Housing remains minimal budget burden
Renters allocate merely 13.5% of the $64,103 median household income to $720 monthly rent, while homeowners spend about 12% on mortgages averaging $643 on homes valued at $128,600. Both groups enjoy Pennsylvania's lightest housing-cost burden by a substantial margin.
Elk County: Pennsylvania's affordability champion
If budget is your priority, Elk County delivers unmatched Pennsylvania affordability: rents at $720 and homes near $128,600 cost 20–40% less than comparable rural alternatives. Weigh this exceptional value against job market opportunities and amenities in competing regions before choosing.
Cost of Living Advisory: Elk County
Affordability Verdict
Elk County offers affordable rental housing at a median of $720/month — about 13.5% of the typical household income here.
Rent vs. Own
Renters in Elk County pay $720/month on average, compared to $643/month for homeowners. This market favors buyers by about 11%.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $28,800/year. For owner costs at the 28% rule, the required income is roughly $27,557/year. With a median household income of $64,103, most households can comfortably afford rent here. Notably, 27.0% of renter households in Elk County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Elk County sits 7% less expensive than Bedford County ($771/month) in terms of median gross rent.
Affordability Calculator
See how your income compares to housing costs in Elk County
Rent Burden
13.5%
of gross income
Max Housing (28% Rule)
$1,496
per month
Owner Cost Burden
12.0%
of gross income
You can likely afford the median home in Elk County
Median home value is $128,600. Estimated monthly cost: $1,027 vs. your max of $1,496.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023). Data is informational only and is not personalized financial advice.
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