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This is how much you would need to earn in. A cost of living comparison can estimate how far your salary will go based on location. Decreasing steadily. You don't move to the bay from Seattle for an immediate raise. This can vary depending on the time of day, day of week, and the weather and road conditions. Whether thats a mortgage or rent, a large percentage of your salary will go toward your housing expenses each month. 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. The total income needed is $14,200 Proximity to employment is an important consideration because it can drastically impact your cost of living. Other necessities in the 50% must-have needs category include groceries, utilities, car payments and healthcare. These expenses included public transit and motor vehicle-related costs like auto purchases, parts, fuels, rentals, leases and insurance. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website. Households spent an average of $10,961or $913 per monthon transportation expenses. How much should I spend on necessities including housing? When comparing a new location against the base city, the resulting numerical score indicates where the cost of living will likely be higher or lower between the two locations. So when deciding where to live, determine whether your income level will be able to keep pace with cost of living increases. 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. For others, it involves driving your car, and that means factoring in car repairs, gas, tolls and parking. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,601 per month to avoid calamity and poverty. When evaluating offers, please review the financial institutions Terms and Conditions. Chicago vs NYC vs Seattle vs Bay Area, my two requirements are - Reddit The biggest factors in any move are the standard of Total annual household expenditures averaged $66,928 in 2021, according to the Bureau of Labor Statistics (BLS). Consequently, comparing expenses between cities or towns offers you more clarity on your homebuying journey by helping you better target the regions where you can afford to live that also provide the standard of living you enjoy. Demographics data (including population, age, ethnicity, education and gender breakdown) were compiled from the, Quality of life data (gyms, bars and beauty salons per 1,000 residents) were collected from the Yellow Pages. Do these housing costs seem low to you? Expenses can vary dramatically from place to place, especially as inflation continues to impact the economy and housing market. Highlights. Cost of Living Comparison Between Seattle, WA, United States - Numbeo 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. Comparisons improve with every new data that you enter. Here are some common categories and general estimated costs to factor in when figuring out where you can afford to live. The cost of living in Seattle is 57% higher than the national average, Washington general sales tax is 28% higher than the national average, Washington state income tax is 100% lower than the national average. This information is important when job searching or when considering relocating or purchasing a home in a new part of the country, or even the world. We help you decide by comparing all the largest . That's probably because we're measuring average costs for the larger metro area, not just the city limits. I can barely keep up with the increasing prices. This information may be different than what you see when you visit a financial institution, service provider or specific products site. This information can also help you determine whether or not you can afford to live in a particular location at all. In a couple of decades or even less than that, Seattle with its natural resources will be the place to go and it will be much more longed for than bay area ( think about global warming, drought, water shortage, wild fires, etc etc ) .. Seattle wins hands down. San Francisco, CA. What your skills are worth in the job market is constantly changing. 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