Loretto, PA Economy


Reviews



Download our custom City Report to see exclusive
data on cost of living, crime, climate, and more.
Loretto, PA is a small city located in Cambria County that offers affordable living for residents. The average rent for a two bedroom apartment is $1110 compared to $1430 in the US. This makes Loretto an attractive option for those looking for quality housing at a lower cost. Additionally, the grocery cost index is 101 compared to 100 in the US, ensuring residents are getting good value for their money. Local businesses and attractions make this small city worthwhile, with companies such as Bittner's Furniture Store and Quaint Oak Bank providing services to locals. Attractions like the Prince Gallitzin State Park offer outdoor activities such as hiking and fishing that all ages can enjoy.

Loretto has an unemployment rate of 8.1%. The US average is 6.0%.

Loretto has seen the job market increase by 0.0% over the last year. Future job growth over the next ten years is predicted to be 15.0%, which is lower than the US average of 33.5%.

Tax Rates for Loretto
- The Sales Tax Rate for Loretto is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Loretto is 4.1%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.

Income and Salaries for Loretto
- The average income of a Loretto resident is $5,436 a year. The US average is $28,555 a year.
- The Median household income of a Loretto resident is $51,250 a year. The US average is $69,021 a year.

Income by Population Percent

  EconomyLoretto, PennsylvaniaUnited States
  8.16
  -7.2%-6.2%
  15.0%33.5%
  6.0%6.2%
  4.1%4.6%
  $7,579$37,638
  $51,250$69,021
  $94,375$85,028
  Population by Occupation
  0.4%1.2%
  0.0%0.5%
  2.2%6.8%
  4.8%10.0%
  0.0%2.5%
  11.9%11.0%
  1.9%4.8%
  0.0%0.8%
  0.0%1.9%
  0.0%4.7%
  0.0%1.9%
  7.8%7.6%
  0.0%0.1%
  3.3%4.2%
  33.8%9.3%
  14.1%14.0%
  8.6%2.1%
  8.6%7.0%
  1.9%4.8%
  0.7%4.7%
Health
Compare Loretto, PA
cost of living
Compare food, housing, utilities, and more in Loretto, Pennsylvania to any other city in the US.