What is the breakdown of the cost of living? Health related expenses are 22.1% more in Sunnyvale. Goods, services and housing are all very affordable. household income. Your income will also become stretched with childcare costs if you plan on starting or expanding your family, so factor that into your decision-making when investigating where you can afford to live comfortably. Sign up or log in to compare your personalized match scores. 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. Get matched with a top agent in your area. Uber, Go to company page Healthcare in Seattle is 30% higher than the national average. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. Seattle (/sitl/ (listen) see-AT-l) is a seaport city on the West Coast of the United States. Not to mention you save thousands per year on income taxes in WA. San Francisco vs. Seattle | Comparison, Pros & Cons, Which City Is And it adds up. Choosing the right mortgage can help make your home buying journey easier and more affordable. You should factor this commuting time into your overall. Compare that to the cost of living in Texas, which is 8 percent lower than the national average, even though pricier cities like Plano have a cost of living thats above the national average. CA, you'll need a Compare the cost of living in undefined, undefined vs. undefined, undefined and see how far your salary will go to maintain your standard of living. The expenses that factor into cost of living can include housing affordability, transportation expenses, food prices and entertainment costs. The total income . Americans spend nearly the same amount each year on entertainment as they do on health insurance, according to the BLS. If you enjoy a lot of sin products ca is better. Sunnyvale housing costs are 122.5% more expensive than Seattle housing costs. 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 Feet to Buy Apartment in City Centre, Price per Square Feet to Buy Apartment Outside of Centre, Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate. 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. To maintain your standard of living in Seattle, WA, you'll need a household income of: $40,827 The cost of living is 18% lower in Seattle, WA See Seattle's complete City Life page. 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. Cost of Living in Seattle, WA: rent, food, transport [2023] A low rate can save you hundreds each year. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. 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. According to the BLS, transportation is the second-largest expense consumers have.For some, these costs include taking public transportation. For example, the cost of living in San Francisco is twice that of Boise, Idaho. Our cost of living calculator will help you figure out if your move will work for your budget and salary. than your current city. In 2021, American households spent an average of $8,289 on food, or 10 percent of their budget, according to the Consumer Expenditure Survey. Seattle has grocery prices that are 25% higher than the national average. This category of expenses could include clothing, entertainment and personal care such as haircuts and more. Overall I would not regret the move at all. Compare some of America's most popular cities. Should you accept an early retirement offer? Let us help you make an informed decision about what it will cost to live and work in the city of your dreams! 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. While other resources provide basic cost comparisons,NerdWallets cost of living calculatorand accompanying city life tool go one step further by offering information on schools, quality of life and demographics, giving users a one-stop shop to explore new cities. Answer some questions to get offerswith no impact to your credit score. Good. Decreasing steadily. 2023 Bankrate, LLC. If you are planning to drive to work, you will be spending a lot of time and gas to get there. Just like with food costs, you can curb how much you spend on entertainment by altering your behavior. lower in San Francisco, The renters in the city have an income of about $51,326, which would make their monthly maximum allowable rental costs $1,198. Regarding how much of your income you should apply to what costs, theres a general principle known as the 50/30/20 budget rule. Costs of goods and services are declining. Do these housing costs seem low to you? Consequently, whatever the circumstances in the housing market, whether you should rent or buy is a highly individual decision. Households spent an average of $10,961or $913 per monthon transportation expenses. Copyright 2009-2023 Numbeo. In Seattle,WA, my friend pays $1646 for a large 2 bedroom apartment. According to MITs living wage calculator, food costs in Florida and Texas run $3,351 per year for a single adult. How Much Down Payment Do You Need to Buy a Home. Cities ranking. 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. Whether thats a mortgage or rent, a large percentage of your salary will go toward your housing expenses each month. Washington state income tax is 100% lower than the national average. However you could get a significant cut if you move to Florida instead. 10 nationally. The cost of living is the total amount of money required to live in a certain area and cover your basic necessities. Each person must take stock of their financial health, lifestyle requirements and future goals. Walkability and public transit scores were obtained from, Monthly bus pass costs were obtained from the individual websites of the public transit system for each city. It is possible that electric rates may fluctuate depending on consumption rates, government regulations and even the weather. 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 (1kg) (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 85m2 Apartment, 1 min. Just enter your salary and job title as well as your current location and the city where you're considering a move. Quality of life data (gyms, bars and beauty salons per 1,000 residents) were collected from the Yellow Pages. The expenses that factor into cost of living can include housing affordability, transportation expenses, food prices and entertainment costs. The guideline advises you to devote 50% of your post-tax income to must-have needs, 30% to wants and 20% to savings. We use the Consumer Price Index (CPI) and salary differentials of over 300+ US cities to give you a comparison of costs and salary. Seattle vs. Bay Area - Mountain Project In those areas you will be sure to find lots of free or cheap events to go to and plenty of cheap places to eat. Items on which the index is based have been carefully chosen to reflect the different categories of consumer expenditures., C2ER was founded in 1961, and continues to exist today as a nonprofit organization, comprising research staff of chambers of commerce, economic development organizations and agencies, and related organizations throughout the United States. C2ER has published its quarterly Cost of Living Index since 1968. If you plan to drive to work, also do some research on average traffic in your destination town or city. According to the U.S. Bureau of Labor Statistics, the largest bill consumers pay each month is for housing. Monthly bus pass costs were obtained from the individual websites of the public transit system for each city. For instance, itll cost you considerably less to live in Fort Smith, Arkansas compared to Fort Lauderdale, Florida. Home equity line of credit (HELOC) calculator. 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. Get free guidance on changes you can make to afford more home, without spending more. You could eat out less, cut back on takeout and cook more often. Go to company page ago It also includes such consumer expenses as water and sewer service fees and sales and excise taxes. Seattle (/ s i t l / see-AT-l) is a seaport city on the West Coast of the United States.It is the seat of King County, Washington.With a 2020 population of 737,015, it is the largest city in both the state of Washington and the Pacific Northwest region of North America. Seattle vs Tampa comparison: Cost of Living, Salary, Prices living and what salary youll need to make in order to reach that standard. According to MIT's living wage calculator, food costs in Florida and Texas run $3,351 per year for a single adult. 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. For example, if you, A general rule of thumb is to keep your spending on necessities, such as housing and food, to no more than 50 percent of your take-home pay. Use our tool to get a personalized report on your market worth. All financial products, shopping products and services are presented without warranty. Nov 20, 2020 0. On the other hand, if you need to be location-flexible or dont have enough funds built up yet for a down payment, renting is probably the better option. The cost of living in Seattle is 57% higher than the national average. Our partners compensate us. But even then, the price of groceries is going to significantly influence your cost of living. Whether youre looking for a fresh start on an opposite coast, heading to a new region for work or moving closer to family, cost of living will play a big role in how much house you can afford while maintaining your desired standard of living. The rule of thumb is not to spend more than 30% of your total income on housing. Terms of Use and There are various cost of living indexes available online including: In addition, the U.S. Bureau of Labor Statistics publishes the widely referenced Consumer Price Index, or CPI. According to the council, C2ER produces the Cost of Living Index to provide a useful and reasonably accurate measure of living cost differences among urban areas. Umm I would not say pay is mostly the same in Seattle vs bay. These include: Housing is considered a necessity, an essential cost of living that cannot be avoided.