PA Residents Spend This Much Of Their Income On Bills, Data Shows
Original Source: Patch
By Michelle Rotuno-Johnson
How does Pennsylvania compare with other states, when it comes to the cost of living and paying bills? Take a look at this recent data:
PENNSYLVANIA — Pennsylvania residents fork over more than one-third of their income to pay the bills every month, according to an analysis of household expenses by state.
The recent report by payment network doxoINSIGHTS shows that the average American household pays 35 percent of its income on the most important bills. These include mortgage and rent payments, utility bills, insurance costs, car payments, phone bills, and other monthly costs.
This averages out to $24,557 per year nationally, Doxo’s analysis found – but analysts say the percentage of household income “provides a more proportional look at bill spending in a particular location.”
Residents of Louisiana, Hawaii, and Florida use the highest percentage of their income for household bills – 44 percent, 43 percent, and 42 percent, respectively, as Doxo reported.
Doxo found that Pennsylvania residents spend just under the national average (34 percent) when it comes to the percentage share of how much money goes to bills.
In fact, Pennsylvania is almost the end of the list, if you rank states based on that metric – coming in at No. 46. Only Virginia, Minnesota, Nebraska, and Utah had lower percentages of income going towards household bills.
Doxo reported that each year, Keystone State residents spend $23,061 on bills, with an average household income of $66,974.
Explore more of Doxo data on household bills here.