Cost of Living Comparison Between Seattle, WA, United States - Numbeo Households spent an average of $10,961or $913 per monthon transportation expenses. of Prepaid Mobile Tariff Local (No Discounts or Plans), Internet (60 Mbps or More, Unlimited Data, Cable/ADSL), Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child, International Primary School, Yearly for 1 Child, 1 Summer Dress in a Chain Store (Zara, H&M, ), Price per Square Meter to Buy Apartment in City Centre, Price per Square Meter to Buy Apartment Outside of Centre, Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate. In Seattle,WA, my friend pays $1646 for a large 2 bedroom apartment. This price can vary a lot if the distance is greater and depending on how much is being moved. Privacy Policy. Utilities tend to cost 21.92% Your use of this service is subject to our, Meal for 2 People, Mid-range Restaurant, Three-course, McMeal at McDonalds (or Equivalent Combo Meal), Beef Round (1 lb) (or Equivalent Back Leg Red Meat), Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car), Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car), Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment, 1 min. Looks for areas of Seattle, Washington where there is a large student population. Groceries index. Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis. Find a personal loan in 2 minutes or less. Health related expenses are 22.1% more in Sunnyvale. Whether you use a cost of living index or a cost of living calculator, each will help you feel more confident in deciding where to live. Transportation index. Make sure you budget for these types of expenses and include them in the first years. This can vary depending on the time of day, day of week, and the weather and road conditions. However, if buying a home is in your plan, use this time to save by taking on a roommate, renting a cheaper apartment or moving in with family. NerdWallets cost of living calculator is powered by data from The Council for Community and Economic Research (C2ER). Sign up or log in to compare your personalized match scores. How much should you contribute to your 401(k)? A low rate can save you hundreds each year. Private school data was obtained from the Department of Education, and average private tuition was compiled by averaging tuition across randomly selected schools in each city. I can barely keep up with the increasing prices. Entertainment: A movie ticket, a pint of beer, box seats at a baseball game they can all come with a different price tag depending upon where you live. Aside from your personal expenses and lifestyle habits, youll also need to be mindful of macroeconomic items that arent within your control such as inflation, interest rate hikes, and mortgage rate fluctuations. Seattle. Similarly, Floridas cost of living is just 1 percent lower than the country as a whole, according to RentCafe. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. The 28/36 rule is a common sense guideline that states you should not spend more than 28% of your monthly gross income on housingeither your mortgage payment or rentand 36% of your monthly gross income on your total debt. Discretionary spending could also include luxury goods and travel. Unless youre lucky enough to work from home, you will need to factor in transportation costs when deciding where to live. Before you get the keys to your new home, you'll have to pay closing costs. Typically, the index is based on expenses such as food, housing, utilities, transportation, health care and other goods. Seattle, Washington's cost of living is 50% higher than the national average. Expenses can vary dramatically from place to place, especially as inflation continues to impact the economy and housing market. Monthly bus pass costs were obtained from the individual websites of the public transit system for each city. Cost of living calculators are useful in comparing the expenses associated with different cities or regions. But even then, the price of groceries is going to significantly influence your cost of living. Walkability and public transit scores were obtained fromWalk Score. Which certificate of deposit account is best? I know that the west coast has a ton of high-paying startups, so that might edge up their numbers a bit. The largest increases were found in Transportation, Food, and Housing. Housing, food and lifestyle expenses are merely the tip of the iceberg when it comes to the true cost of living. Goods, services and housing are all very affordable. Although theres no federally reported cost of living index, organizations such as the Economic Policy Institute and Council for Community and Economic Research provide tools to calculate and compare costs. higher. Relocating to Seattle from the Bay Area - Cost Of Living Comparisons It may be less expensive than San Francisco, but it still requires sound financial management before deciding to live there. There are ways to trim that down. Proximity to employment is an important consideration because it can drastically impact your cost of living. Cost of living calculations are based on various key necessities and expenses. Consumers spend about 13 percent of their annual budget on this necessity, which amounts to about $10,961, according to the Consumer Expenditure Survey. We believe everyone should be able to make financial decisions with confidence. Do not sell or share my personal information. This index measures changes in prices for goods and services purchased by urban households. For others, it involves driving your car, and that means factoring in car repairs, gas, tolls and parking. Just like with food costs, you can curb how much you spend on entertainment by altering your behavior. Go to company page What are index funds and how do they work? Air quality in SF is among the top 10 worst in the USA. Price collection by city is conducted in strict conformance with standard specifications at specified times. NerdWallets cost of living calculator is powered by data from The Council for Community and Economic Research (C2ER). How does income impact cost-of-living decisions? Price collection by city is conducted in strict conformance with standard specifications at specified times. higher. Health related expenses are 2.0% more in Los Angeles. For example, the cost of an unlimited MetroCard in New York was obtained from the. While Seattle and San Francisco are both coastal cities, they have different climates. A cost of living index allows you to directly compare what it costs to live in one area against another, helping you understand how far your money can go in each place. 2023 Compare Cities Cost of Living: Seattle, WA vs Sunnyvale, CA So, housing costs fall into that 50% category. For instance, if you need to stay in one location for an office job, plan to settle down and start a family or decide you prefer the stability and equity benefits owning a home offers, buying could be the right move if you have enough money to invest in homeownership. Familiarize yourself with the places where students hang out, and take advantage of discounted or bargain prices, you are sure to be able to keep your. Entertainment: A movie ticket, a pint of beer, box seats at a baseball game they can all come with a different price tag depending upon where you live. The estimated average annual cost for child care in Seattle, Washington (based on state average), is $12733. Regarding how much of your income you should apply to what costs, theres a general principle known as the 50/30/20 budget rule. To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. While other resources provide basic cost comparisons. Cost Of Living Comparison Calculator - Bankrate The federal minimum wage is $7.25 per hour while Washington's state law sets the minimum wage rate at $15.74 per hour in 2023. This information may be different than what you see when you visit a financial institution, service provider or specific products site. The CPI does not, however, include costs associated with income taxes or money consumers spend on investments like stocks, bonds or life insurance. The miscellaneous goods and services that factor into a household budget will vary. Get free guidance on changes you can make to afford more home, without spending more. Some examples include: These types of costs may not always be top of mind when putting together a monthly budget, but theyll inevitably have some impact on your cost of living, so dont forget to include them. Costs of goods and services are declining. Find your market worth with a report tailored to you. Our partners cannot pay us to guarantee favorable reviews of their products or services. Health care, childcare, education, transportation and utilities are additional necessities that combine to create the overall cost of living for the average individual or family. Proximity to employment is an important consideration because it can drastically impact your cost of living. Cost of Living Calculator | undefined, undefined vs - NerdWallet Your lifestyle and what you prioritize will also play into whether a particular destination is suitable for your salary and ideal cost of living. Cost of living information can be helpful to make comparisons between two or more cities and determine how much money would be required to make ends meet. One of most important determinations you need to make before moving to a new city or town is how much it will cost to live there. How well do these numbers hold up in reality? 4 Reply vonfuckingneumann 1 yr. ago Chicago and Seattle's weather is worse compared to NYC When's the last time it snowed in Seattle? Sin products are alcohol, cigarettes, and weed which wa taxes heavily. Depends on your lifestyle. Step-By-Step Pay Equity Analysis Guide Product Guide By clicking Download Product Guide, Do you know what your employees really want for the holidays? Health care is also one of the most significant expenses consumers face, eating up about 8 percent of a consumers annual budget, or about $5,452. Unless youre lucky enough to work from home, you will need to factor in transportation costs when deciding where to live. For example, if you live in Bakersfield, your cost of living is 4 percent higher than the national average, but if you live in San Francisco, its 91 percent higher. For others, it involves driving your car, and that means factoring in car repairs, gas, tolls and parking. from the Council for Community and Economic Research. What is the breakdown of the cost of living? Seattle. Even if your employer is covering the cost of a move, there will still be costs that are not covered. NerdWallet Compare, Inc. NMLS ID# 1617539, NMLS Consumer Access|Licenses and Disclosures, California: California Finance Lender loans arranged pursuant to Department of Financial Protection and Innovation Finance Lenders License #60DBO-74812, Property and Casualty insurance services offered through NerdWallet Insurance Services, Inc. (CA resident license no. According to the latest BLS data, consumers average over $7,000 per year on food expenses. Health care index. Price collection by city is conducted in strict conformance with standard specifications at specified times. One of the most important aspects to a good quality of life is good healthcare. For someone working in a FAANG+ company, would the difference be much smaller? It may also include such expenses as transportation, health care, entertainment and education. This expense may be a mortgage or rent, and it is typically the single biggest expense for consumers. Written by Mia Taylor | Edited by Troy Segal. Also, remember that some of the outputs on the cost of living calculator like medical visits are for a single person, so youll need to adjust the calculations if youre married or have children. Your use of this service is subject to our To maintain your standard of living in San Francisco, You don't move to the bay from Seattle for an immediate raise. And it adds up. Uber, Go to company page According to the BLS, transportation is the second-largest expense consumers have.For some, these costs include taking public transportation. knowledge handy before you move can help set expectations or help you decide to move somewhere else. living and what salary youll need to make in order to reach that standard. Once you understand what they cover, they'll look less overwhelming. Seattle, WA vs Los Angeles, CA, Copyright 2009-2023 Numbeo. If you are a renter seattle or cheaper, if you are a home owner ca is or will be cheaper.
