An Overview of Cost of Living in Hazel Dell, WA
Are you thinking about relocating, but curious about the potential cost of living in Hazel Dell? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Hazel Dell stands at 123, making it 23% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.
If you prioritize affordability when seeking a new place to live, Hazel Dell may not be your ideal choice, as it ranks among the most expensive locations in the entire United States. A very small amount of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Hazel Dell falls into this category, which may not align with your preferences for a budget-friendly living environment.
Housing costs are a very significant part of the Hazel Dell cost of living index and generally encompass a large percentage of take-home income. Unfortunately, in this area, the housing costs for both homes and rentals were 57.5% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.
The substantial and relentless rise in grocery prices definitely warrants some attention. Over the past two years, grocery expenses have escalated by more than 10%. Having said that, the situation in Hazel Dell is even less favorable, with grocery prices here being 10.5% higher than the national average.
Is Hazel Dell Affordable?
Wondering if Hazel Dell is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Hazel Dell, for example, the median home price is 67.2% higher than what folks pay nationally, and monthly rent is 34.8% higher than the usual rates. Plus, income levels matter too, with Hazel Dell boasting a median household income of $65,742, which is 18.8% higher than the national average.
What Factors can Influence the Cost of Living in Hazel Dell?
Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Hazel Dell, healthcare costs are 9.6% higher than the national average.
Transportation: If public transportation is limited or not available, residents may need to own and maintain vehicles, which can add to the cost of living. Gas, insurance, regular maintenance and potentially lease or finance payments will all need to be paid on a monthly basis. In Hazel Dell, the transportation index is 26.3% higher than the national average.
Taxes: Cities that enforce higher taxes, covering both sales taxes and income taxes, can be a factor contributing to a higher cost of living. Paying more in taxes for everyday essentials like clothing and food inevitably leads to higher expenses. A higher income tax rate can further contribute to an overall elevated cost of living. In Hazel Dell, the baseline sales tax rate begins at 6.5%, and income tax rates start at 0%.
Where is the Data From?
The cost of living data in Hazel Dell displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.
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