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Price of Living Calculator

Use Salary.com's Cost of Living Figurer to easily compare the cost of living in your current location to the cost of living in a new location. We use the Consumer Price Index (CPI) and salary differentials of over 300+ US cities to requite you a comparing of costs and bacon. Let united states of america help you make an informed determination about what it will price to live and piece of work in the city of your dreams!

The federal minimum wage is $7.25 per 60 minutes in 2022. Await at the minimum wage values compared with the cost of living in your location by visiting Minimum Wage Values in the Us

Cost of Living Index in Major Cities of the United States

A comparison of the Cost of Living indexes across major United states Cities compared to the national average. The calculations are based on the total cost of energy, food, healthcare, housing and transportation, among other factors. New York Metropolis consistently ranks #1 as the nation's highest cost of living.

Cost of Living by Land

Cost of Living by Major Cities

Click to see the cost of living for these major U.South. cities.

If you'd like to know the toll of living in other cities, and then delight select a city in

Price of Living Oft Asked Questions

What is a Price of Living index and how is it used?

In the simplest terms, a Cost of Living index is the estimated amount that represents the cost of the basic necessities required for an individual to live. A toll of living or COL judge may typically include estimates for housing, food, energy, medical care, transportation, taxes, and other necessities. A COL index may be used to measure what the cost difference would be for a person living in a certain location compared to another location. This cost of living comparison helps individuals brand decisions about where they would like to alive and what they can afford based on the costs in that location. A cost of living comparing tin can provide guidance about how an increase or decrease in these basic living expenses impacts necessary spending for an individual or a family. ( 2022-02-25 bacon.com )

What factors are included in estimating your price of living?

The Salary.com toll of living calculator estimate is based on information related to five general categories: housing , food , healthcare , transportation , and energy . These are the universally recognized core components of whatsoever toll of living estimate and represent those expenses that apply to anybody. Plainly, at that place may be other factors that could contribute to your particular cost of living situation and not everyone has the same spending habits. For case, education and/or childcare costs might not apply to everyone, only for those who have those expenses, they could be significant and should be considered when you evaluate your cost of living comparison. ( 2022-02-25 salary.com )

The Salary.com cost of living computer is unique in that it as well incorporates electric current salary data for thousands of jobs specific to a called dwelling house or work location to provide a more refined estimate of the toll of living variations. You tin see how your chore and your salary volition be impacted by a modify of location. If you live in 1 location but work in another, the cost of living calculator will brand those adjustments to provide an accurate estimate of the change in COL. The Bacon.com cost of living calculator helps yous to brand cost of living comparisons cost comparisons hands and quickly. ( 2022-02-25 salary.com )

Review the cost of living categories used by the computer

Housing

Housing is a large office of any cost of the living estimate. This category includes your hire, mortgage payment including interest and belongings insurance or other fees. About households spend the largest share of overall expenses on housing. Average housing costs accept recently been increasing everywhere in the United States. There are certain areas of the country where the cost of housing has increased much more rapidly than other locations and the cost of living calculator will assistance you to place those locations. Upkeep tip: The rule of pollex estimate is that housing expense should be between 25 - 30 % of net income (after taxes).

Food

Another category of the cost of living is food. This includes the overall cost of nutrient items purchased in grocery stores and food consumed away from domicile. The cost of groceries is a significant piece of the cost of living estimate.

Budget tip: Nutrient expenses should range between 10-15% of income.

Transportation

Transportation is included in the toll of living gauge and consists of any expenses related to travel including commuting. The costs of operating a auto, such every bit gas, maintenance, repairs, tires, insurance, motor vehicle licensing or registration fees are part of the approximate. The costs of utilizing public transportation are also included in this category.

Upkeep tip: two-5% of income is a proficient spending target for transportation costs.

Healthcare

The healthcare category of the cost of living estimate consists of premiums for health insurance, medical care or professional medical services like a physician or dentist, and hospital, prescriptions and other health-related services.

Budget tip: It is hard to budget for healthcare expenses due to the sometimes unexpected nature of the need for healthcare services. Hopefully, you will remain healthy. Based on typical spending, 7-x% of income should be budgeted for Healthcare expenses.

Energy

The free energy category of the cost of living guess consists of the cost of electricity and other utilities like natural gas or dwelling heating oil. Where you live can impact this category, in very cool or warm locations, energy costs tin be much college than the national average.

Budget tip: Energy utilities should range between 2-10% of income. In some cases, some of your energy costs may exist included with rent.

Think near some other factors that might impact your price of living

Taxes

Taxes come in the form of income taxes (federal, state, city), sales taxes, property taxes, and licenses or fees collected by various local authorities entities. Some taxes, like a sales tax on fuel or food, are included in the overall COL category estimates. Required income taxes volition be deducted from pay and reduce the spendable income bachelor to a person. A state with loftier state income taxes will take a bigger share of your pay than a country with depression or no state income tax rates. Licenses or fees can differ by individual. Examples of fees could be a canis familiaris license, boat license, special parking permits, or another local tax.

Childcare

For those with children, child care can be a significant expense that is higher up and beyond a typical cost of living estimate. The blazon of child care needed, for example, hiring an individual caregiver or live in nanny for an infant, or enrolling in an later on school program for an older child or for several children, tin can vary in cost. Those expenses might impact your overall toll of living.

Apparel and personal services

If you lot spend a lot on new clothing or personal services like dazzler services or gym memberships you will need to think of those boosted expenses and include them in your price of living estimates.

Pets

Pet expenses are too not included in the basic cost of living gauge, depending on the blazon of pet you lot have, these costs can exist significant. Think about veterinarian visits, nutrient, licenses, grooming, and even doggy daycare. All these costs will add to your overall toll of living.

Recreation

If you take special hobbies or spend a lot on recreational pursuits, those expenses, whether they are for travel, lessons, equipment, memberships, or admissions should be considered part of your overall cost of living. Include these activities in your price of living estimates. It is possible that a move could reduce the costs of your activity, for instance, if you similar to ski and you motility to the mountains, you could eliminate the costs of travel and lodging to the slopes.

Don't forget- Savings

Finally, think of how much you should gear up bated for savings and make sure your price of living planning includes your savings.

Last Update: 2022-02-25

Source: https://www.salary.com/research/cost-of-living

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