Retirement Planning in Lackawanna County, PA

What does it take to retire comfortably in Lackawanna County? Here are the numbers.

Median Income

$63,739

Retirement Income (80%)

$50,991

Est. Nest Egg Needed

$717,050

Cost of Living Index

98

Retirement Income Analysis

Income Needs (Annual)

Target Income (80% rule)$50,991
Est. Social Security$22,309

Annual Income Gap$28,682

Housing Costs

Median Rent$917/mo
Annual Housing$11,004
Property Tax Rate1.6%

Median Home Value$175,700

About Lackawanna County, Pennsylvania

Lackawanna County in Pennsylvania has a median household income of $63,739 and a homeownership rate of 65.4%. Using the 4% rule, retirees in this county would need approximately $717,050 in savings to cover the gap between Social Security and their target retirement income.

These are estimates based on county-level medians. Your actual retirement needs depend on your specific income, expenses, healthcare costs, Social Security benefits, and investment portfolio. Use our calculator for a personalized Monte Carlo analysis.

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Other Counties in Pennsylvania

County-level data from U.S. Census Bureau American Community Survey (ACS) 2022 5-Year Estimates. Additional sources: SSA, BLS. Estimates based on county-level medians and the 4% withdrawal rule. This is not financial advice.