Get & compare mortgage quotes anonymously Start in My Home

Safe Rate Local

Cost of Living in Drexel

Is it better to rent or buy in Drexel? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

← Back to Drexel Hub

Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$33,058
$1,244/mo

Median in area: $1,244

$101,506

Median in area: $101,506

$20,301

If you Rent

$1,418 /mo
Base Rent$1,244
Est. Utilities$174
% of Income51.5%
Pre-tax Residual$1,337

If you Buy

$912 /mo
P&I (7.059%)$543
Taxes & Ins$195
Est. Utilities$174
% of Income33.1%
Pre-tax Residual$1,842

Cost of Living FAQs

Is it cheaper to rent or buy in Drexel?›

Based on median housing data, buying is currently more affordable on a monthly basis in Drexel. The estimated all-in monthly cost for renting is $1,418, while owning a median-priced home with a 20% down payment is roughly $912 per month (a difference of $506).

How much do utilities cost in Drexel?›

The average monthly utility cost (electricity and natural gas) for a typical home in Drexel is approximately $174. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Drexel?›

To comfortably afford the median rent and utilities in Drexel without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $56,720 per year.